Lightstone Value Plus Real Estate Investment Trust V Inc
Lightstone Value Plus Real Estate Investment Trust V — Investor Presentation (September 2017)
38 slides from Lightstone Value Plus Real Estate Investment Trust V's investor presentation, Sep 28, 2017
Slide 1: Lightstone Value Plus REIT V Investor Presentation
LIGHTSTONE LIGHTSTONE VALUE PLUS REIT V Investor Presentation September 28, 2017
Slide 2: Lightstone Value Plus REIT V
LIGHTSTONE VALUE PLUS REIT V Investor Presentation September 28, 2017 1
Slide 3: Forward-Looking Statements
Forward - Looking Statements 2 This presentation contains forward - looking statements, including discussion and analysis of the financial condition of us and our subsidiaries and other matters. These forward - looking statements are not historical facts but are the intent, belief or current expecta
Slide 4: Forward-Looking Statements
Forward - Looking Statements 3 Factors that could cause actual results to differ materially from any forward - looking statements made in the presentation includ e but are not limited to: • market and economic challenges experienced by the U.S. and global economies or real estate industry as a whole
Slide 5: Dial-in and Replay Information
Dial - in and Replay Information To listen to today’s call: Dial: 800 - 704 - 9804 Passcode: 9536213# Webinar Link: https :// www.anywhereconference.com WEB LOGIN: 415403565 Participant PIN Code: 9536213 For a replay of today’s call: Dial : 800 - 298 - 0807 Passcode : 9536213# 4
Slide 6: Agenda
AGENDA Executive Summary • Lightstone Transition • Operational Performance • Courtyard Kauai at Coconut Beach Sale • Amendment of Share Redemption Program • Investment Theme 5
Slide 7: 330 Employees
330Employees LIG! HTSTONE
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ve @ 5 . 9 om : trios * 75 A Oo le % fo g aA a LIGHTSTONE
Slide 9: Investment Strategy
OSS ACQUIRE IMPROVE EXIT *= There will beno assurancesthat we will successfully execute our investment strategy Investment Strategy* Ze ‘+ Target well located assets priced at a discount to replacement cost ‘+ Screen for opportunities with controllable investment drivers like operationalrepositionin
Slide 10: Investment Strategy
Investment Strategy* 9 * There will be no assurances that we will successfully execute our investment strategy.
Slide 11: REIT Platform
REIT Platform* + Lightstone a major sponsor of public, non-traded REITs. Total AUM of $1.67 billion as 0 06/30/2017. + To date, Lightstone has raised more than $600 million of investor capital from four programsand delivered strong NAV and MFFO performance. — Lightstone Value Plus Real Estate Invest
Slide 12: REIT Platform
REIT Platform* 11 • Lightstone a major sponsor of public, non - traded REITs. Total AUM of $1.67 billion as o 06/30/2017. • To date, Lightstone has raised more than $600 million of investor capital from four programs and delivered strong NAV and MFFO performance . – Lightstone Value Plus Real Estate
Slide 13: REIT Platform - Continued
REIT Platform - Continued 12 • Advisory Management – Lightstone was appointed Advisor of Behringer Harvard Opportunity REIT I & II to provide asset management, acquisition and advisory, debt financing, developments, and accounting services. AUM of $572 million. • Regulation Compliance – Six separate
Slide 14: Lightstone Executive Management Team: David Lichtenstein
Lightstone Executive Management Team 13 David Lichtenstein Founder, Chairman and CEO David Lichtenstein is Chairman and CEO of Lightstone, which he founded in 1988. Mr. Lichtenstein personifies Lightstone’s commitment to the highest standards of quality, integrity, and value. In addition to chairing
Slide 15: Lightstone Executive Management Team: Mitchell Hochberg
Lightstone Executive Management Team 14 Mitchell Hochberg President Mitchell C. Hochberg is President of Lightstone. He has more than 30 years of experience in every facet of real estate development and operations, including the residential, hospitality, commercial, gaming and mixed - use sectors. H
Slide 16: Lightstone Executive Management Team: Donna Brandin
Lightstone Executive Management Team 15 Donna Brandin Chief Financial Officer & Treasurer Donna Brandin is the Chief Financial Officer and Treasurer at Lightstone, where she brings over 25 years of experience in leading corporate finance operations. Prior to joining Lightstone, Ms. Brandin served as
Slide 17: Lightstone Executive Management Team: Joseph E. Teichman
Lightstone Executive Management Team 16 Joseph E. Teichman Executive Vice President & General Counsel Joseph E. Teichman is Executive Vice President and General Counsel at Lightstone, where he is responsible for overseeing and managing the legal affairs of the company and its operating entities. Mr.
Slide 18: Lightstone Transition
Lightstone Transition • February 10, 2017: Lightstone Group selected as new external advisor and property manager in effort to maximize value • Q2 2017: Completed transition of the advisory and property management services • July 20, 2017: Behringer Harvard Opportunity REIT II, Inc. renamed Lightsto
Slide 19: Board of Directors
Board of Directors • On September 18, 2017, the Company held its annual meeting of stockholders. At the annual meeting, stockholders elected seven directors: Andreas K . Bremer* Diane S. Detering - Paddison* Jeffrey F. Joseph* Jeffery P. Mayer* Cynthia Pharr Lee* Steven Spinola* David Lichtenstein 1
Slide 20: History of the REIT V
History of the REI * Fund raising began in January 2008 + Fund raising closed in March 2012 and raised $265.3 million * NAV as of 10/31/2016: $7.80/share + Lightstone Group was selected as new external advisor and property manager on 02/10/2017 + Leverage as of 06/30/2017: 44.7% * Cash balance as of
Slide 21: History of the REIT V
History of the REIT V 20 • Fund raising began in January 2008 • Fund raising closed in March 2012 and raised $265.3 million • NAV as of 10/31/2016: $7.80/share • Lightstone Group was selected as new external advisor and property manager on 02/10/2017 • Leverage as of 06/30/2017: 44.7% • Cash balance
Slide 22: Lakes of Margate
Lake of Margate 21 Occupancy % as of June 30 Effective Monthly Rent Per Unit ($) 2017 2016 2017 2016 95% 96% $1,305.40 $1,254.28 Property Name Lakes of Margate Location Margate, Florida Property Type Multifamiy Total Area 280 Units Date Acquisition 10/19/2011 Ownership 92.5% Debt Balance ($M) $14.1
Slide 23: Arbors Harbor Town
Arbors Harbor Town 22 Occupancy % as of June 30 Effective Monthly Rent Per Unit ($) 2017 2016 2017 2016 94% 97% $1,231.39 $1,145.36 Property Name Arbors Harbor Town Location Memphis, Tennessee Property Type Multifamiy Total Area 345 Units Date Acquisition 12/20/2011 Ownership 94% Debt Balance ($M) $
Slide 24: Parkside Apartments
Parkside Apartment 23 Occupancy % as of June 30 Effective Monthly Rent Per Unit ($) 2017 2016 2017 2016 90% 88% $1,180.25 $1,094.63 Property Name Parkside Apartments Location Sugar Land. Texas Property Type Multifamiy Total Area 240 Units Date Acquisition 8/8/2013 Ownership 90% Debt Balance ($M)* $9
Slide 25: River Club Student Housing
River Club Student Housing 24 Occupancy % as of June 30 Effective Monthly Rent Per Bed ($) 2017 2016 2017 2016 92% 92% $409.50 $389.79 Property Name River Club and the Townhomes at River Club Location Athens, Georgia Property Type Student Housing Total Area 1,128 beds Date Acquisition 4/25/2011 Owne
Slide 26: Exchange Student Housing
22 Exchange Student Housing 25 Occupancy % as of June 30 Effective Monthly Rent Per Bed ($) 2017 2016 2017 2016 88% 88% $567.17 $575.72 Property Name 22 Exchange Location Akron, Ohio Property Type Student Housing Total Area 471 Beds Date Acquisition 4/16/2013 Ownership 90% Debt Balance ($M) $19.1
Slide 27: Gardens Medical Office Building
Gardens Medical Office Building 26 Occupancy % as of June 30 Effective Monthly Lease Per Square Foot ($) 2017 2016 2017 2016 75% 66% $2.09 $2.06 Property Name Gardens Medial Pavilion Location Palm Beach Gardens, Florida Property Type Medical Office Building Total Area 75,374 Square Foot Date Acquisi
Slide 28: Prospect Park (The Huron) Mezz Loan
Prospect Park (The “Huron”) Mezz Loan 27 Property Name The Huron Location Denver, Colorado Property Type Multifamily Investment Mezzanine Loan Rate 11% Date Investment 5/23/2013 Carrying Value ($M) $14.7
Slide 29: Operational Performance Q2 2017 Rental Revenue and Expenses
Operational Performance 28 Q2 2017 Rental Revenue and Expenses Disposition of Lakewood Flats occurred on August 16, 2016
Slide 30: Operational Performance YTD 2017 Rental Revenue and Expenses
Operational Performance 29 YTD 2017 Rental Revenue and Expenses Disposition of Lakewood Flats occurred on August 16, 2016
Slide 31: Courtyard Kauai at Coconut Beach Sale
Courtyard Kauai at Coconut Beach Sale 30
Slide 32: Courtyard Kauai at Coconut Beach Sale
31 Courtyard Kauai at Coconut Beach Sale Kauai Sale • Sold Courtyard Kauai at Coconut Beach on August 15, 2017. • Contract sales price of $62.0 million. • Buyer assumed the existing outstanding mortgage indebtedness of $36.0 million. • Net proceeds from the disposition were approximately $ 27.0 mill
Slide 33: 1031 Exchange
32 Courtyard Kauai at Coconut Beach Sale 1031 Exchange • Targeting to deploy Kauai sales proceeds through a 1031 exchange. • The REIT should be able to defer the recognition of taxable gain through the use of a Section 1031 like - kind exchange by acquiring replacement property valued at $ 62 millio
Slide 34: Amendment of Share Redemption Program
Amendment of Share Redemption Program 33
Slide 35: Amendment of Share Redemption Program
Amendment of Share Redemption Program • On August 9, 2017 the Board approved a new share redemption program effective July 1, 2018. • The a mended s hare r edemption p rogram will fundamentally change the way that we redeem shares : 34 ‒ Beginning July 1, 2018 all redemptions will be redeemed on the
Slide 36: Investment Theme
Invest Theme + With the Board’s election to extend the target timeline for liquidity for another six years to June 30, 2023, managementis focused on a commitmentto enhancing shareholders total return through: — Improving performance through more aggressive property management — Looking to growinvest
Slide 37: Investment Theme
Investment Theme * • With the Board’s election to extend the target timeline for liquidity for another six years to June 30, 2023, management is focused on a commitment to enhancing shareholders’ total return through: – Improving performance through more aggressive property management – Looking to g
Slide 38: Q&A
Q&A • If you have any questions, please submit them to – [email protected] – 888 - 808 - 7348 37 Playback Information • A dial - in playback will be available at 800 - 298 - 0807; use passcode 9536213# • Playbacks will be available until October 30, 2017 38
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