Lightstone Value Plus REIT IV, Inc. Files 2023 Annual Report

TL;DR

<b>Lightstone Value Plus REIT IV, Inc. has filed its 2023 10-K report detailing its financial performance and corporate information.</b>

AI Summary

Lightstone Value Plus REIT IV, Inc. (LTSV) filed a Annual Report (10-K) with the SEC on March 26, 2024. Lightstone Value Plus REIT IV, Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The company is incorporated in Maryland and its fiscal year ends on December 31. Its business and mailing address is 1985 Cedar Bridge Avenue, Suite 1, Lakewood, NJ 07735. The company was formerly known as Lightstone Real Estate Income Trust Inc., with a name change on September 11, 2014. The filing includes data related to various entities and joint ventures, including Williamsburg Moxy Hotel Joint Venture and Forty East End Ave Pref LLC.

Why It Matters

For investors and stakeholders tracking Lightstone Value Plus REIT IV, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of the company's financial health, operational activities, and strategic positioning for the fiscal year 2023. Investors and stakeholders can use this report to assess the REIT's performance, understand its asset portfolio, and evaluate potential risks and opportunities.

Risk Assessment

Risk Level: — Lightstone Value Plus REIT IV, Inc. shows moderate risk based on this filing. The company operates in the real estate investment trust sector, which is subject to market fluctuations, interest rate changes, and economic downturns, as indicated by the nature of its business and the broad industry context.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand the company's performance and outlook for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-03-26 — Filing Date (Date of submission)
• 1985 Cedar Bridge Avenue, Suite 1 — Business Address (Company location)
• NJ — State of Incorporation (State of incorporation)

Key Players & Entities

• Lightstone Value Plus REIT IV, Inc. (company) — Filer
• Lightstone Real Estate Income Trust Inc. (company) — Former company name
• David Lichtenstein (person) — Associated individual
• Williamsburg Moxy Hotel Joint Venture (company) — Associated entity
• Forty East End Ave Pref LLC (company) — Associated entity

FAQ

Risk Factors

• Market Risks [medium — market]: The company's operations are subject to general economic conditions and real estate market fluctuations.
• Financing Risks [medium — financial]: Reliance on debt financing and interest rate changes can impact financial performance.
• Operational Challenges [medium — operational]: Management of real estate assets and joint ventures presents operational complexities.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-03-26: Filing Date — Date the 10-K report was officially submitted to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This filing provides the official annual financial and business overview for Lightstone Value Plus REIT IV, Inc.)

REIT

Real Estate Investment Trust. A company that owns, operates, or finances income-generating real estate. (Indicates the business sector and investment focus of Lightstone Value Plus REIT IV, Inc.)

Key Financial Figures

• $0.01 — (g) of the Exchange Act: Common Stock, $0.01 par value per share Indicate by check
• $9.47 — are of the Registrant's common stock of $9.47 per share derived from the estimated va
• $200,000 — ember 12, 2014, the Advisor contributed $200,000 to Lightstone REIT IV in exchange for 2
• $10.00 — es of common stock ("Common Shares") at $10.00 per share. Mr. Lichtenstein also owns 2
• $2.0 m — which were issued on June 15, 2015 for $2.0 million, or $9.00 per share. Subject to t
• $9.00 — d on June 15, 2015 for $2.0 million, or $9.00 per share. Subject to the oversight of
• $12.6 million — or made aggregate principal advances of $12.6 million to us through March 31, 2017 (the termi
• $14.0 million — ances and related accrued interest were $14.0 million and $13.8 million, respectively, which
• $13.8 m — accrued interest were $14.0 million and $13.8 million, respectively, which are classifi
• $186,954 — consolidated balance sheet. We accrued $186,954 of interest expense on the outstanding

Filing Documents

• lightstonereit4_10k.htm (10-K) — 937KB
• lightstonereit4_ex21.htm (EX-21) — 2KB
• lightstonereit4_ex31-1.htm (EX-31.1) — 17KB
• lightstonereit4_ex31-2.htm (EX-31.2) — 17KB
• lightstonereit4_ex32-1.htm (EX-32.1) — 5KB
• lightstonereit4_ex32-2.htm (EX-32.2) — 6KB
• 0001829126-24-001904.txt (&nbsp;) — 3735KB
• lrit-20231231.xsd (EX-101.SCH) — 27KB
• lrit-20231231_cal.xml (EX-101.CAL) — 36KB
• lrit-20231231_def.xml (EX-101.DEF) — 94KB
• lrit-20231231_lab.xml (EX-101.LAB) — 250KB
• lrit-20231231_pre.xml (EX-101.PRE) — 205KB
• lightstonereit4_10k_htm.xml (XML) — 333KB

Business

Business 1 Item 1B. Unresolved Staff Comments 6 Item 1C. Cybersecurity 6 Item 2.

Properties

Properties 7 Item 3.

Legal Proceedings

Legal Proceedings 8 Item 4. Mine Safety Disclosures 8 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 9 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 8.

Financial Statements

Financial Statements F-1 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 32 Item 9A.

Controls and Procedures

Controls and Procedures 32 Item 9B. Other Information 33 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 33 PART III Item 10. Directors and Executive Officers of the Registrant 34 Item 11.

Executive Compensation

Executive Compensation 36 Item 12.

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management 37 Item 13. Certain Relationships and Related Transactions 37 Item 14. Principal Accounting Fees and Services 41 PART IV Item 15. Exhibits 45 Item 16. Form 10-K Summary 45

Signatures

Signatures 46 i Special Note Regarding Forward-Looking Statements This Annual Report on Form 10-K (the "Annual Report"), together with other statements and information publicly disseminated by Lightstone Value Plus REIT IV, Inc. ("Lightstone REIT IV"), contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and include this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words "believe," "expect," "intend," "anticipate," "estimate," "project" or similar expressions. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond our control and which could materially affect actual results, performances or achievements. Factors which may cause actual results to differ materially from current expectations include, but are not limited to, (i) the availability of suitable acquisition/investment opportunities, (ii) financing risks, such as the inability to obtain equity, debt, or other sources of financing on favorable terms, (iii) the level and volatility of interest rates, (iv) increases in operating costs and (v) changes in governmental laws and regulations. Accordingly, there is no assurance that our expectations will be realized. Forward-looking statements in this Annual Report reflect our management's view only as of the date of this Annual Report, and may ultimately prove to be incorrect. We undertake no obligation to upd

BUSINESS

ITEM 1. BUSINESS: General Description of Business and Structure Lightstone REIT IV is a Maryland corporation, formed on September 9, 2014, which elected to qualify as a real estate investment trust ("REIT") for United States ("U.S.") federal income tax purposes beginning with the taxable year ending December 31, 2016. Lightstone REIT IV, together with its subsidiaries is collectively referred to as the "Company" and the use of "we," "our," "us" or similar pronouns refers to Lightstone REIT IV or the Company as required by the context in which any such pronoun is used. We have and currently expect to continue to seek opportunities to invest in real estate and real estate-related investments. Our real estate investments may include operating properties and development projects and our real estate-related investment may include mezzanine loans, mortgage loans, bridge loans and preferred equity interests, with a focus on development-related investments, including investments intended to finance development or redevelopment opportunities. We may also invest in debt and derivative securities related to real estate assets. A portion of our investments may be secured by or related to properties or entities advised by, or wholly or partially, directly or indirectly owned by (i) The Lightstone Group, LLC (the "Sponsor"), which served as our sponsor during our initial public offering (the "Offering"), which terminated on March 31, 2017, (ii) its affiliates and/or (iii) other real estate investment programs it sponsors. Although we expect that most of our investments will be of these various types, we may also make other investments. In fact, we may invest in whatever types of investments that we believe are in our best interests. We currently have one operating segment. As of December 31, 2023, we majority owned and consolidated the operating results of Bedford Avenue Holdings LLC (the "Williamsburg Moxy Hotel Joint Venture"), a joint venture in which we have a 75% memb

View Full Filing

View this 10-K filing on SEC EDGAR