Lightstone Value Plus Real Estate Investment Trust Iii, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 12, 2020 at 03:48 pm EST
Share
Lightstone Value Plus Real Estate Investment Trust III, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced operating loss was USD 1.440 million compared to operating Income of USD 1.262 million a year ago. Net loss was USD 2.462 million compared to USD 156,089 a year ago. Basic loss per share from continuing operations was USD 0.19 compared to USD 0.01 a year ago. For the nine months, operating loss was USD 4.407 million compared to operating Income of USD 1.819 million a year ago. Net loss was USD 101,243 compared to USD 3.911 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.29 a year ago.
Lightstone Value Plus REIT III, Inc. is a real estate investment trust (REIT). The Company conducts its business through Lightstone Value Plus REIT III LP, a Delaware limited partnership (the Operating Partnership). Through the Operating Partnership, the Company owns, operates, and develops commercial properties and makes real estate-related investments. It has primarily acquired, developed, and operated commercial hospitality properties, principally consisting of limited-service hotels and one full-service hotel, all located in the U.S. Its primary objective is to achieve capital appreciation with a secondary objective of income without subjecting the principal to undue risk. The Company may invest up to 20% of its net assets in collateralized debt obligations, commercial mortgage-backed securities (CMBS) and mortgage and mezzanine loans secured, directly or indirectly, by the same types of properties which it may acquire directly. Its advisor is Lightstone Value Plus REIT III LLC.
LIGHTSTONE VALUE PLUS REIT III, INC. 
