Lightstone Value Plus Real Estate Investment Trust V, Inc. announced that Thomas P. Kennedy notified of his decision to resign, effective October 12, 2017, as the President of the company and its subsidiaries and all other officer positions with the company's sponsor Lightstone Group and its affiliates. The Board of Directors of the company elected David Lichtenstein as Chairman of the Board of Directors and Mitchell C. Hochberg as Chief Executive Officer. Mitchell C. Hochberg is President of Lightstone.

He is currently a Principal in partnership with Marriott International and Ian Schrager Company in the rollout of Edition. Mr. Hochberg currently serves on the Board of Directors of Belmond Ltd., as Chairman of the Investment Committee and member of the Audit and Nominating and Governance Committees. Mr. Lichtenstein, 56, is Chairman and Chief Executive Officer of the Company's external advisor.

Mr. Lichtenstein founded both American Shelter Corporation and The Lightstone Group. From 1988 to the present, Mr. Lichtenstein has served as Chairman of the Board of Directors and Chief Executive Officer of The Lightstone Group, directing all aspects of the acquisition, financing and management of a diverse portfolio of multifamily, lodging, retail and industrial properties located in 20 states and Puerto Rico. From June 2004 to the present, Mr. Lichtenstein has served as the Chairman of the Board of Directors and Chief Executive Officer of Lightstone Value Plus Real Estate Investment Trust, Inc. and Chief Executive Officer of Lightstone Value Plus REIT LLC, its advisor.

From April 2008 to the present, Mr. Lichtenstein has served as the Chairman of the Board of Directors and Chief Executive Offer of Lightstone Value Plus Real Estate Investment Trust II, Inc. and Lightstone Value Plus REIT II LLC, its advisor. From September 2014 to the present, Mr. Lichtenstein has served as Chairman of the Board of Directors and Chief Executive Officer of Lightstone Real Estate Income Trust Inc., and as Chief Executive Officer of Lightstone Real Estate Income LLC, its advisor. From June 2015 to the present, Mr. Lichtenstein has served as Chairman of the Board of Directors and Chief Executive Officer of Hamilton National Income Trust, Inc., and as Chief Executive Officer of Hamilton National Income Trust LLC, its advisor.

From July 2015 to the present, Mr. Lichtenstein has served as a member of the Board of Directors of the New York City Economic Development Corporation, New York City's primary economic development vehicle.