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Lightstone Value Plus REIT II Increases Dividend

Lightstone Value Plus REIT II, a publicly registered, non-traded real estate investment trust focused on hospitality properties, will increase its annual distribution rate from 6.5 percent to 7 percent. This increase in the monthly paid distribution is effective in the fourth quarter of 2015 and payable in January 2016.

“We are very pleased to announce this meaningful dividend increase for our shareholders. It’s reflective of the confidence the board of directors has in the performance and management of the portfolio. According to Robert A. Stanger & Co., this is the first time a REIT has increased the dividend payout after an offering has closed,” said Lightstone president, Mitchell Hochberg.

According to a filing with the Securities and Exchange Commission, the REIT’s modified funds from operations were $4.6 million for the three months ended June 30th. The company paid just $3 million in distributions during the quarter, a healthy payout ratio of just 65 percent.

Lightstone Value Plus REIT II is sponsored by The Lightstone Group and is currently closed to new investors. The Lightstone Group’s $2 billion portfolio currently includes more than 6 million square feet of office, retail and industrial commercial properties, 10,500 residential units and 3,200 hotel keys. It also owns more than 12,000 land lots across the country. Headquartered in New York City, Lightstone continues to grow its local presence with $1.7 billion worth of projects currently under development in the residential and hospitality sectors.