Lightstone Value Plus REIT V Declares Net Asset Value Per Share
Lightstone Value Plus REIT V Inc., a publicly registered non-traded real estate investment trust, has declared its annual net asset value per share for its common stock, as of September 30, 2021.
Lightstone Value Plus REIT V Inc., a publicly registered non-traded real estate investment trust, has declared its annual net asset value per share for its common stock, as of September 30, 2021.
As of September 30, 2021, the REIT’s shares were valued at $12.91, an increase of approximately 37 percent compared to last year’s NAV per share of $9.42.
The valuation is based on the estimated values of the REIT’s assets, less its liabilities, divided by the number of shares outstanding, as of September 30, 2021. Capright Property Advisors LLC, an independent third-party valuation firm, assisted with the valuation process.
On a per share basis, investments in real estate increased from $19.99 at September 2020 to $24.52 at September 2021. Cash and cash equivalents increased from $1.38 to $1.89 year-over-year, while restricted cash decreased from $0.36 to $0.35. Marketable securities remained unchanged at $0.18, while notes receivable increased from $0.61 to $0.68.
Notes payable increased from ($12.45) in September 2020 to ($13.73) in September 2021. Other assets and liabilities increased from ($0.23) to ($0.32) year-over-year, and non-controlling interests increased from ($0.42) to ($0.66).
In other company news, last month, Lightstone Value Plus REIT V purchased the Citadel Apartments, a 293-unit multifamily property located in Houston, Texas, for approximately $66 million.
Lightstone Value Plus Real Estate Investment Trust V, formerly known as Behringer Harvard Opportunity REIT II, launched in January 2008 and closed in March 2012 after raising $265 million in investor equity.
The company’s portfolio is comprised of seven multifamily properties and one student housing complex, as of September 30, 2021. Its estimated NAV was approximately $260.1 million as of September 30, 2021.
