Lightstone Value Plus Real Estate Investment Trust V, Inc. announces an Equity Buyback for 300,000 shares, for $0.68 million.
June 16, 2020 at 03:13 pm
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Lightstone Value Plus Real Estate Investment Trust V, Inc. announces a share repurchase program. Under the program, the company will repurchase up to 300,000 shares for a total of $0.68 million. The shares will be repurchased at a purchase price of $2.25 per share. The company intends to cancel or retire shares purchased under the offer. The company intends to fund the repurchases from available cash. The offer is designed to provide additional liquidity to holders of shares. If more than 300,000 shares are properly tendered and not properly withdrawn, the company will repurchase all other shares properly tendered on a pro rata basis. The offer will expire on July 24, 2020. As of May 29, 2020, the company had 20,200,000 shares of common stock outstanding.
Lightstone Value Plus REIT V, Inc. is a real estate investment trust (REIT). The Company is formed primarily to acquire and operate commercial real estate and real estate-related assets. The Company holds interests in various commercial properties, such as office, industrial, retail, hospitality, multifamily, and student housing, and other real estate-related investments, such as mortgage loans and mezzanine loans. The Company's business is conducted through Lightstone REIT V OP LP (Operating Partnership). The Company has eight wholly owned real estate investments (multi-family apartment complexes) and one real estate-related investment (mezzanine loan). The Companyâs properties include Arbors Harbor Town, Parkside Apartments, Flats at Fishers, Axis at Westmont, Valley Ranch Apartments, Autumn Breeze Apartments, BayVue Apartments, and Citadel Apartments. The Companyâs business is externally managed by LSG Development Advisor LLC (the Advisor).