Lightstone Value Plus Real Estate Investment Trust III, Inc. Reports Unaudited Consolidated Earnings Results for the Year Ended December 31, 2015
June 07, 2016 at 08:50 pm
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Lightstone Value Plus Real Estate Investment Trust III, Inc. reported unaudited consolidated earnings results for the year ended December 31, 2015. For the year, the company reported rental revenue of USD 6,203,000. Operating income was USD 573,000. Net loss applicable to company's common shares was USD 340,000 or USD 0.20 per basic and diluted share. On pro forma basis, rental revenue was USD 12,781,000. Operating income was USD 2,442,000. Net income applicable to company's common shares was USD 1,456,000 or USD 0.87 per basic and diluted share.
Lightstone Value Plus REIT III, Inc. is a real estate investment trust (REIT). The Company conducts its business through Lightstone Value Plus REIT III LP, a Delaware limited partnership (the Operating Partnership). Through the Operating Partnership, the Company owns, operates, and develops commercial properties and makes real estate-related investments. It has primarily acquired, developed, and operated commercial hospitality properties, principally consisting of limited-service hotels and one full-service hotel, all located in the U.S. Its primary objective is to achieve capital appreciation with a secondary objective of income without subjecting the principal to undue risk. The Company may invest up to 20% of its net assets in collateralized debt obligations, commercial mortgage-backed securities (CMBS) and mortgage and mezzanine loans secured, directly or indirectly, by the same types of properties which it may acquire directly. Its advisor is Lightstone Value Plus REIT III LLC.
LIGHTSTONE VALUE PLUS REIT III, INC. 
