On June 26, 2020, Lightstone Value Plus Real Estate Investment Trust V, Inc. (the “Company”), through a majority owned subsidiary of the Company’s operating partnership, entered into a ten-year, $35.7 million non-recourse mortgage loan (the "Lakes of Margate Mortgage"). The Lakes of Margate Mortgage bears interest at LIBOR + 2.98% and requires monthly interest-only payments through the first four years of the term and thereafter, monthly payments of principal and interest based upon a 30-year amortization. The Lakes of Margate Mortgage is collateralized by a 280-unit multifamily property located in Margate, Florida (the “Lakes of Margate”). In connection with the acquisition, the Company’s advisor, an affiliate of the Lightstone Group, LLC, received approximately $0.3 million in debt financing fees.