Public, non-traded REIT Lightstone Value Plus Real Estate Investment Trust, Inc. (Value Plus) filed its annual 10-K today.
Through June 30, 2014, the REIT valued its common shares owned by non-affiliates at $257.1 million. Value Plus sold its common shares for $10 each, during its public offering. On February 26, 2015, its Board of Directors approved an estimated value per share of $11.82.
25.9 million shares of common stock were held by non-affiliates as of March 23, 2015 or $306.1 million in aggregate value.
On March 27, 2015, the REIT’s Board of Directors declared a $0.0019178 per share per day distribution for the three-month period ended March 31, 2015 payable to stockholders of record on the close of business each day during the quarter, payable on April 15, 2015.
Value Plus owns and continues to seek investment opportunities in “fee interests in multi-tenant, community, power and lifestyle shopping centers, and in malls located in highly trafficked retail corridors, high-barrier to entry markets, and sub-markets with constraints on the amount of additional property supply.”
The REIT also owns and would consider future investments in lodging and multi-tenant industrial and office properties located near major transportation routes, plus middle market multifamily properties.
The REIT is closed to new investors.
For view the filing, click here.