Lightstone Value Plus REIT V, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 15, 2022 at 02:30 am IST
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Lightstone Value Plus REIT V, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 12.01 million compared to USD 11.19 million a year ago. Net loss was USD 2.11 million compared to USD 2.1 million a year ago. Basic loss per share from continuing operations was USD 0.11 compared to USD 0.1 a year ago.
For the nine months, sales was USD 34.82 million compared to USD 30.86 million a year ago. Net loss was USD 6.61 million compared to net income of USD 25.38 million a year ago. Basic loss per share from continuing operations was USD 0.33 compared to basic earnings per share from continuing operations of USD 1.26 a year ago.
Lightstone Value Plus REIT V, Inc. is a real estate investment trust (REIT). The Company is formed primarily to acquire and operate commercial real estate and real estate-related assets. The Company holds interests in various commercial properties, such as office, industrial, retail, hospitality, multifamily, and student housing, and other real estate-related investments, such as mortgage loans and mezzanine loans. The Company's business is conducted through Lightstone REIT V OP LP (Operating Partnership). The Company has eight wholly owned real estate investments (multi-family apartment complexes) and one real estate-related investment (mezzanine loan). The Companyâs properties include Arbors Harbor Town, Parkside Apartments, Flats at Fishers, Axis at Westmont, Valley Ranch Apartments, Autumn Breeze Apartments, BayVue Apartments, and Citadel Apartments. The Companyâs business is externally managed by LSG Development Advisor LLC (the Advisor).