Lightstone Value Plus Real Estate Investment Trust V Inc
Lightstone Value Plus Real Estate Investment Trust V — Corporate Update (February 2020)
21 slides from Lightstone Value Plus Real Estate Investment Trust V's corporate update, Feb 13, 2020
Slide 1: Recent Events Update February 2020
Lightstone Value Plus Real Estate Investment Trust V Recent Events Update February 2020 1
Slide 2: Forward-Looking Statements
Forward - Looking Statements Forward - Looking Statements This presentation includes forward - looking statements. These statements include statements regarding the intent, belief or current expectations of the company and members of its management team, as well as the assumptions on which such stat
Slide 3: Agenda
Agenda • Asset Performance Summary • Key Accomplishments • Self Tender Offer to Buy Back Shares • Extension of the REIT 3
Slide 4: Asset Performance Summary
Asset Performance Summary 4
Slide 5: Investments Summary
Investments Summary 5 Appraised Fair Value of Investments As of September 30, 2019 Assets acquired since Lightstone was appointed as the Advisor: • Flats at Fishers • Axis at Westmont • Valley Ranch • 500 West 22 nd (mezzanine loan)
Slide 6: Legacy Investments
Legacy Investments 6 1 Gardens Medical was sold in January 2020. O ccupancy is inclusive of all existing and new leases executed at the time of sale. 2 Current occupancy as of September 30, 2019. 3 Flats at Fishers – was acquired on November 30, 2017 after Lightstone took over management of the Comp
Slide 7: Flats at Fishers Marketplace
Flats at Fishers Marketplace 7 • The property is located in Hamilton County within the greater Indianapolis metro area. • Hamilton County benefits from its major employers in the insurance, finance, and health care industries . • These employers attract professionals within higher income demographic
Slide 8: Axis at Westmont
Axis at Westmont 8 • The property is located within DuPage County, a part of the greater Chicago area, and is the second most populous county in Illinois. The property is within convenient commuting distance to downtown Chicago. • DuPage County is one of the largest and most diverse employment cente
Slide 9: Valley Ranch
Valley Ranch 9 • The property is located in Ann Arbor near the University of Michigan, a powerhouse college that drives the rental market’s low vacancies and strong rent growth . • Ann Arbor is consistently ranked as #1 among the “Best Places to Live in America,” “ Nation’s Most Educated MSA,” and “
Slide 10: 500 West 22nd Mezzanine Loan
500 West 22 nd Mezzanine Loan 10 Mezzanine Loan Investment • Provided a $12M loan amount for a ground up 10 - unit condo building with corner retail, in a prime West Chelsea area of Manhattan. • Date of Loan: April 2019 • Term: 30 months plus two six - month extension options. • Borrower is currentl
Slide 11: Gardens Medical
Gardens Medical 11 The Company sold the property in January 2020 for $24.3M , after Lightstone successfully executed on its strategy to significantly increase the occupancy of the building and improve the value of the property. – Originally acquired in 2010, the historical occupancy ranged between 6
Slide 12: Key Accomplishments
Key Accomplishments 12
Slide 13: Key Accomplishments: Lightstone took over as advisor February 2017
Key Accomplishments Lightstone took over as advisor of the Company on February 10, 2017 13 • The annualized return for the Company from January 2017 1 to September 2019 was 6.0% , while the yield on the 10 Year Treasury bond decreased from 2.4% to 1.7% during the same period. • The NAV increased fro
Slide 14: Key Accomplishments: Acquired three multifamily properties
Key Accomplishments 14 Acquired three multifamily properties with aggregate purchase price of $166 million during 2018 and early 2019. • Flats at Fishers Marketplace – Acquired a 306 - unit multifamily property located in Fishers, Indiana for $36.9M and subsequently obtained a $28.8M mortgage loan o
Slide 15: Key Accomplishments: Exited legacy investments
Key Accomplishments 15 S uccessfully exited legacy investments, providing capital and opportunity to rebalance the portfolio • Sold Courtyard Kauai Coconut Beach Hotel for $62M in 2017, with net proceeds after paydown of debt of approximately $24M. • Received $32.5M of proceeds, including interest a
Slide 16: Self Tender Offer to Buy Back Shares
Self Tender Offer to Buy Back Shares 16
Slide 17: Self-Tender Offer
Self - Tender Offer 17 December 2, 2019 A third party investment firm commenced an unsolicited tender offer to purchase up to 1,200,000 shares of the outstanding common stock of the Company, at a price of $6.00 per share, or approximately 66% of the current NAV of $9.10. December 13, 2019 The Board
Slide 18: Extension of the REIT
Extension of the REIT 18
Slide 19: Extension of the REIT
Extension of the REIT • On January 9, 2020, the Board of Directors elected to extend the targeted timeline to commence liquidation of the REIT until June 30, 2028 based on their assessment of the Company’s investment objectives and liquidity options for stockholders . • The Company had previously ex
Slide 20: Key benefits of extending the life of the REIT
Extension of the REIT Key benefits of extending the life of the REIT • Superior performance achieved by Lightstone Advisor to date as evidenced by the NAV growth and other key accomplishments. • The Board of Directors and management believe that the forward - looking IRRs are accretive to investors.
Slide 21: Investor Services / Questions
Investor Services: 888 - 808 - 7348 [email protected] Questions 21
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