Lightstone REIT V Files Q2 2025 10-Q, Confirms Compliance

TL;DR

**Lightstone REIT V is just checking boxes, no financial news to move the needle here.**

AI Summary

Lightstone Value Plus REIT V, Inc. filed its 10-Q for the quarter ended June 30, 2025, indicating continued operations as a non-accelerated and smaller reporting company. The filing confirms the company has met all SEC reporting requirements under Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months. The company's business address remains 1985 Cedar Bridge Avenue, Suite 1, Lakewood, New Jersey 08701, with a business phone number of (888) 808-7348. No specific revenue or net income figures were provided in the excerpt, nor were any key business changes or strategic outlooks detailed. The filing primarily focuses on regulatory compliance and company identification. The company's securities are not registered pursuant to Section 12(b) of the Act, as indicated by 'None'.

Why It Matters

For investors, this filing confirms Lightstone Value Plus REIT V, Inc.'s adherence to SEC reporting obligations, which is a baseline for transparency and good governance. The lack of specific financial data in the excerpt means investors cannot assess performance, but the 'None' for Section 12(b) securities registration suggests it's not a publicly traded entity on major exchanges, limiting direct market impact. Employees and customers are less directly affected by this specific compliance filing, but consistent regulatory adherence builds trust. In a competitive real estate investment trust market, consistent compliance is a minimum expectation, not a differentiator.

Risk Assessment

Risk Level: low — The risk level is low because the filing indicates full compliance with SEC reporting requirements, specifically stating 'Yes' to having filed all required reports and submitting Interactive Data Files. There are no red flags regarding regulatory non-compliance or financial distress mentioned in the provided excerpt.

Analyst Insight

Investors should note the company's compliance but understand this filing offers no financial performance data. Further due diligence into the full 10-Q document is necessary to assess the REIT's financial health, asset performance, and dividend prospects before making any investment decisions.

Key Numbers

• 000-53650 — Commission File Number (Identifies the company's filing with the SEC)
• 20250630 — Conformed Period of Report (Indicates the quarter ending June 30, 2025, for which the report is filed)
• 20250811 — Filed As Of Date (The date the 10-Q was officially filed with the SEC)

Key Players & Entities

• Lightstone Value Plus REIT V, Inc. (company) — Registrant filing the 10-Q
• SEC (regulator) — United States Securities and Exchange Commission
• June 30, 2025 (date) — End of the quarterly period reported
• August 11, 2025 (date) — Date the 10-Q was filed
• 000-53650 (identifier) — Commission file number
• 1985 Cedar Bridge Avenue, Suite 1, Lakewood, New Jersey 08701 (address) — Principal executive offices
• (888) 808-7348 (phone_number) — Registrant's telephone number
• Maryland (location) — State of incorporation or organization
• 20-8198863 (identifier) — I.R.S. Employer Identification No.

FAQ

Industry Context

Lightstone Value Plus REIT V, Inc. operates within the Real Estate Investment Trusts (REITs) sector, specifically classified under SIC Code 6798. This industry is characterized by its focus on owning, operating, or financing income-producing real estate. REITs are known for their potential to provide investors with income through dividends and capital appreciation, but they are also sensitive to interest rate fluctuations, real estate market cycles, and property-specific performance.

Regulatory Implications

As a non-accelerated and smaller reporting company, Lightstone Value Plus REIT V, Inc. is subject to specific SEC filing requirements under Section 13 or 15(d) of the Securities Exchange Act of 1934. The filing confirms compliance with these requirements for the preceding 12 months. The absence of securities registered under Section 12(b) suggests the company's securities are not listed on a major exchange, which may impact liquidity and investor access.

What Investors Should Do

1. Seek additional financial disclosures
2. Review prior filings for trend analysis

Key Dates

• 2025-06-30: Quarterly period end — Marks the end of the reporting period for the 10-Q filing.
• 2025-08-11: 10-Q Filing Date — Indicates the official submission date of the quarterly report to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC) that provides a comprehensive update on a company's financial performance. (This document is the specific filing being analyzed for Lightstone Value Plus REIT V, Inc.)

Non-accelerated filer

A company that does not meet the criteria for accelerated or large accelerated filer status, typically based on public float and filing history. (Classifies Lightstone Value Plus REIT V, Inc. and indicates it is subject to less stringent reporting requirements.)

Smaller reporting company

A company with a public float below a certain threshold, also subject to scaled disclosure requirements. (Further categorizes Lightstone Value Plus REIT V, Inc., suggesting a smaller market capitalization and potentially less extensive financial disclosures.)

Section 13 or 15(d) of the Securities Exchange Act of 1934

These sections mandate periodic reporting requirements for companies whose securities are traded on public exchanges. (Confirms that Lightstone Value Plus REIT V, Inc. is fulfilling its ongoing disclosure obligations.)

SIC Code 6798

Standard Industrial Classification code for Real Estate Investment Trusts. (Identifies the primary business sector of Lightstone Value Plus REIT V, Inc.)

Year-Over-Year Comparison

This excerpt does not provide comparative data from previous filings, making it impossible to assess year-over-year changes in revenue, margins, or other key financial metrics. The filing confirms ongoing compliance with reporting requirements, but specific performance trends or shifts in risk factors compared to prior periods cannot be determined from this information alone.

Filing Documents

• ltsv510q063025.htm (10-Q) — 684KB
• ltsv510qex31-1.htm (EX-31.1) — 10KB
• ltsv510qex31-2.htm (EX-31.2) — 10KB
• ltsv510qex32-1.htm (EX-32.1) — 4KB
• ltsv510qex32-2.htm (EX-32.2) — 4KB
• 0001185185-25-000928.txt ( ) — 3813KB
• lvvp-20250630.xsd (EX-101.SCH) — 39KB
• lvvp-20250630_cal.xml (EX-101.CAL) — 32KB
• lvvp-20250630_def.xml (EX-101.DEF) — 143KB
• lvvp-20250630_lab.xml (EX-101.LAB) — 298KB
• lvvp-20250630_pre.xml (EX-101.PRE) — 162KB
• ltsv510q063025_htm.xml (XML) — 406KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024 3 Consolidated Statements of Operations and Comprehensive Income for the Three and Six Months Ended June 30, 2025 and 2024 4 Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 30, 2025 and 2024 5 Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2025 and 2024 7

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8 Item 2.

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 4.

Controls and Procedures

Controls and Procedures 32 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 3. Defaults Upon Senior Securities 33 Item 4. Mine Safety Disclosures 33 Item 5. Other Information 33 Item 6. Exhibits 33 Table of Contents PART I FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. Lightstone Value Plus REIT V, Inc. Consolidated Balance Sheets (Dollars in thousands, except per share amounts) June 30, 2025 December 31, 2024 (unaudited) Assets Investment property: Land and improvements $ 88,126 $ 95,445 Building and improvements 360,206 399,472 Furniture, fixtures and equipment 12,940 13,127 Gross investment property 461,272 508,044 Less accumulated depreciation ( 78,493 ) ( 77,709 ) Net investment property 382,779 430,335 Cash and cash equivalents 39,621 21,406 Marketable securities, available for sale 3,948 3,827 Restricted cash 17,878 6,391 Prepaid expenses and other assets 3,625 4,063 Total Assets $ 447,851 $ 466,022 Liabilities and Stockholders' Equity Notes payable, net $ 299,011 $ 323,168 Accounts payable and accrued and other liabilities 7,351 9,200 Total liabilities 306,362 332,368 Commitments and Contingencies Stockholders' Equity: Company's stockholders' equity: Preferred stock, $ .0001 par value per share; 50.0 million shares authorized, none issued and outstanding - - Convertible stock, $ .0001 par value per share; 1,000 shares authorized, issued and outstanding - - Common stock, $ .0001 par value per share; 350.0 million shares authorized, 18.6 million and 18.9 million shares issued and outstanding, respectively 2 2 Additional paid-in-capital 151,846 155,846 Accumulated other comprehensive income/(loss) 50 ( 31 ) Accumulated deficit ( 10,409 ) ( 22,163 ) Total Stockholders' Equity 141,489 133,654 Total Liabilities and Stockholders' Equity $ 447,851 $ 466,022 See Notes to Consolidated Financial Statements. 3 Table of Contents Lightstone Value Plus REIT V, Inc. Consolidated Statements of Operations and Comprehensive Income (Dollars and shares in thousands, except per share amounts) (unaudited) For the Three Months Ended June 30, For the Six Months Ended June 30, 2025 2024 202

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) (Dollar amounts in thousands, except per share data and where indicated in millions) 1. Business and Organization

Business

Business Lightstone Value Plus REIT V, Inc. ("Lightstone REIT V," which may also be referred to as the "Company," "we," "us," or "our"), was organized as a Maryland corporation on January 9, 2007 and has elected to be taxed, and currently qualifies, as a real estate investment trust ("REIT") for United States ("U.S"). federal income tax purposes. The Company was formed primarily to acquire and operate commercial real estate and real estate-related assets on an opportunistic and value-add basis. In particular, the Company has focused generally on acquiring commercial properties with significant possibilities for capital appreciation, such as those requiring development, redevelopment, or repositioning, those located in markets and submarkets with high growth potential, and those available from sellers who are distressed or face time-sensitive deadlines. Since its inception, the Company has acquired a wide variety of commercial properties, including office, industrial, retail, hospitality, multifamily residential and student housing. The Company has purchased existing, income-producing properties, and newly-constructed properties. The Company has also invested in other real estate-related investments such as mortgage and mezzanine loans. The Company has made its investments in or in respect of real estate assets located in the U.S. and other countries based on its view of existing market conditions. Substantially all of the Company's business is conducted through Lightstone REIT V OP LP, a limited partnership organized in Delaware (the "Operating Partnership"). As of June 30, 2025, the Company's wholly-owned subsidiary, BHO II, Inc., a Delaware corporation, owned a 0.1 % partnership interest in the Operating Partnership as its sole general partner. As of June 30, 2025, the Company's wholly-owned subsidiary, BHO Business Trust II, a Maryland business trust, was the sole limited partner of the Operating Partnership and owned the remaining 99.9 % interest in the Oper

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) (Dollar amounts in thousands, except per share data and where indicated in millions) The Company's Common Shares are not currently listed on a national securities exchange. The timing of a liquidity event for the Company's stockholders will depend upon then prevailing market conditions and the Board of Directors' assessment of the Company's investment objectives and liquidity options for the Company's stockholders. On August 7, 2025, the Board of Directors extended the targeted timeline for the Company to commence a liquidity event until June 30, 2033 based on their assessment of the Company's investment objectives and liquidity options for the Company's stockholders. The Company can provide no assurances as to the actual timing of the commencement of an actual liquidity event for its stockholders or the ultimate liquidation of the Company. Furthermore, the Company will seek stockholder approval prior to liquidating its entire portfolio. Current Environment The Company's operating results and financial condition are substantially impacted by the overall health of local, U.S. national and global economies and may be influenced by market and other challenges. Additionally, its business and financial performance may be adversely affected by current and future economic and other conditions; including, but not limited to, availability or terms of financings, financial markets volatility and banking failures, political upheaval or uncertainty, natural and man-made disasters, terrorism and acts of war, unfavorable changes in laws, ordinances and regulations, outbreaks of contagious diseases, cybercrime, technological advances and challenges, such as the use and impact of artificial intelligence and machine learning, loss of key relationships, inflation, tariffs and recession. The Company's overall performance depends in part on worldwide economic and geopolitical conditions and their impacts on consumer behavi

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) (Dollar amounts in thousands, except per share data and where indicated in millions) Tax Status and Income Taxes The Company elected to be taxed as a REIT commencing with the taxable year ended December 31, 2008. If the Company remains qualified as a REIT, it generally will not be subject to U.S. federal income tax on its net taxable income that it distributes currently to its stockholders. To maintain its REIT qualification under the Internal Revenue Code of 1986, as amended, the Company must meet a number of organizational and operational requirements, including a requirement that it annually distribute to its stockholders at least 90% of its REIT taxable income (which does not equal net income, as calculated in accordance with GAAP), determined without regard to the deduction for dividends paid and excluding any net capital gain. If the Company fails to remain qualified for taxation as a REIT in any subsequent year and does not qualify for certain statutory relief provisions, its income for that year will be taxed at regular corporate rates, and it may be precluded from qualifying for treatment as a REIT for the four-year period following its failure to qualify as a REIT. Such an event could materially adversely affect its net income and net cash available for distribution to its stockholders, if any. Additionally, even if the Company continues to qualify as a REIT for U.S. federal income tax purposes, it may still be subject to some U.S. federal, state and local taxes on its taxable income and property and to U.S. federal income taxes and excise taxes on its undistributed taxable income, if any. To maintain its qualification as a REIT, the Company may engage in certain activities through a wholly-owned taxable REIT subsidiary. As such, the Company may be subject to U.S. federal and The Company's income tax expense and benefits are included in ot

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) (Dollar amounts in thousands, except per share data and where indicated in millions) 3. Real Estate Properties The following table presents certain information about the Company's wholly owned and consolidated multifamily real estate properties as of June 30, 2025: Property Name Location Date Acquired Number of Units Arbors Harbor Town Memphis, Tennessee December 20, 2011 345 The Aster (formerly Parkside) Apartments Sugar Land, Texas August 8, 2013 240 Axis at Westmont Westmont, Illinois November 27, 2018 400 Valley Ranch Apartments Ann Arbor, Michigan February 14, 2019 384 BayVue Apartments Tampa, Florida July 7, 2021 368 Citadel Apartments Houston, Texas October 6, 2021 293 Camellia Apartments St. Augustine, Florida December 19, 2023 210 Discovery at Space Coast Apartments Rockledge, Florida December 19, 2024 240 2,480 Disposition of the Autumn Breeze Apartments On February 27, 2025, the Company completed the disposition of a 280-unit multifamily residential property located in Noblesville, Indiana (the "Autumn Breeze Apartments") to an unrelated third party for a contractual sales price of $ 59.5 million. In connection with the disposition of the Autumn Breeze Apartments, its non-recourse mortgage loan (the "Autumn Breeze Apartments Mortgage") of $ 28.8 million was fully defeased at a total cost of $ 28.1 million. The Company's net proceeds from the disposition of the Autumn Breeze Apartments were $ 30.5 million, after the aforementioned defeasance of the Autumn Breeze Apartments Mortgage, pro rations, and closing and other related transaction costs. In connection with the disposition of Autumn Breeze Apartments, the Company recognized a gain on sale of investment property of $ 18.1 million during the first calendar quarter of 2025. In connection with the sale of the Autumn Breeze Apartments, the Company funded $ 31.0 million into an escrow account with a qualified intermediary in order

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) (Dollar amounts in thousands, except per share data and where indicated in millions) 4. Marketable Securities, Derivative Financial Instruments and Fair Value Measurements Marketable Securities The following is a summary of the Company's available for sale marketable securities as of the dates indicated: As of June 30, 2025 Adjusted Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Debt securities: Corporate and Government Bonds $ 3,898 $ 105 $ ( 55 ) $ 3,948 As of December 31, 2024 Adjusted Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Debt securities: Corporate and Government Bonds $ 3,858 $ 53 $ ( 84 ) $ 3,827 As of June 30, 2025, the Company has not recognized an allowance for expected cred

View Full Filing

View this 10-Q filing on SEC EDGAR