Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


July 31, 2015 1:14 AM ET

Real Estate Investment Trusts (REITs)

Company Overview of Lightstone Value Plus Real Estate Investment Trust Inc.

Company Overview

Lightstone Value Plus Real Estate Investment Trust, Inc. operates as a real estate investment trust. The company engages in investing and owning commercial and residential real estate properties in the United States and Puerto Rico. As a REIT, it would not be subject to federal tax to the extent that it distributes at least 90% of its taxable income to its shareholders. The company was founded in 2004 and is based in Lakewood, New Jersey. Lightstone Value Plus Real Estate Investment Trust Inc. operates as a subsidiary of The Lightstone Group LLC.

326 Third Street

Lakewood, NJ 08701

United States

Founded in 2004

Phone:

732-367-0129

Key Executives for Lightstone Value Plus Real Estate Investment Trust Inc.

Founder, Chairman of The Board, Chief Executive Officer and Chief Executive officer of Lightstone Value Plus Reit Llc-Advisor
Age: 54
President
Age: 63
Advisor
Age: 45
Chief Operating Officer, Senior Vice President, Secretary, Director, Chief Operating Officer of Lightstone Value Plus REIT LLC - Advisor, Senior Vice President of Lightstone Value Plus REIT LLC - Advisor and Secretary of Lightstone Value Plus REIT LLC - Advisor
Age: 69
Chief Investment Officer, Vice President, Chief Investment Officer of Lightstone Value Plus REIT LLC - Advisor and Vice President of Lightstone Value Plus REIT LLC
Age: 53
Compensation as of Fiscal Year 2015.

Lightstone Value Plus Real Estate Investment Trust Inc. Key Developments

Lightstone Value Plus Real Estate Investment Trust Inc. Nominates Miriam Weinstein to Serve as an Independent Director

Lightstone Value Plus Real Estate Investment Trust Inc. announced that on February 26, 2015, the independent members of the board of directors of the company nominated Miriam Weinstein to serve as an independent director until the company's next annual meeting of stockholders in accordance with the company's charter and bylaws. The Board of Directors expects to appoint Ms. Weinstein to the Audit Committee of the Board of Directors as well.

Lightstone Value Plus Real Estate Investment Trust Inc. Announces Unaudited Pro-Forma Consolidated Earnings Results for the Nine Months Ended September 30, 2014

Lightstone Value Plus Real Estate Investment Trust Inc. announced unaudited pro-forma consolidated earnings results for the nine months ended September 30, 2014. For the period, the company reported total revenues of $52,759,000, operating income of $8,058,000, net income from continuing operations of $23,088,000, net income of $24,708,000, net income attributable to common shares of $22,985,000, basic and diluted earnings per common share from continuing operations of $0.83 and basic and diluted net earnings per common share of $0.89.

Lightstone Value Plus Real Estate Investment Trust II Provides Approval to Form Joint Venture with Lightstone Value Plus Real Estate Investment Trust

On January 19, 2015, the board of directors of Lightstone Value Plus Real Estate Investment Trust II, Inc. (the "Company") provided approval for the company to form a joint venture (the "Joint Venture") with Lightstone Value Plus Real Estate Investment Trust, Inc. ("Lightstone I"), a real estate investment trust also sponsored by the Company's sponsor, The Lightstone Group, and for the Joint Venture to acquire Lightstone I's membership interest in 11 limited service hotels for approximately $122.4 million, plus closing and other third party transaction costs, contingent upon lender approval. On January 29, 2015 the company through its operating partnership, entered into an agreement to form the Joint Venture with Lightstone I whereby the company and Lightstone I have 97.5% and 2.5% membership interests in the Joint Venture, respectively. The company is the managing member. Each member may receive distributions and make future capital contributions based upon its respective ownership percentage, as required. On January 29, 2015, the company, through the Joint Venture, and Lightstone I, through a wholly owned subsidiary of Lightstone Value Plus REIT LP, entered into five separate contribution agreements pursuant to which the Joint Venture agreed to acquire Lightstone I's membership interest in a portfolio of five limited service hotels (the "Hotel Portfolio") for approximately $64.6 million, excluding transaction costs. The Hotel Portfolio represents five of the 11 limited service hotels to be acquired previously approved by the Board of Directors. The limited service hotels included in the Hotel Portfolio are as follows: a 90-room limited service hotel which operates as a Courtyard by Marriott located in Willoughby, Ohio; a 102-room limited service hotel which operates as a Fairfield Inn & Suites by Marriott located in West Des Moines, Iowa; a 97-suite limited service hotel which operates as a SpringHill Suites by Marriott located in West Des Moines, Iowa; a 126-room limited service hotel which operates as a Hampton Inn located in Miami, Florida; a 104-room limited service hotel which operates as a Hampton Inn & Suites located in Fort Lauderdale, Florida.

Similar Private Companies By Industry

Company Name Region
Foundation Capital Resources Inc. United States
Forsyth Capital Mortgage Corp. United States
CBG Florida REIT Corporation United States
LodgeCap, Inc. United States
Provident Preferred Capital Corp United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 4, 2015
11 Limited Service Hotels
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
NYC2012, Inc. United States
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Lightstone Value Plus Real Estate Investment Trust Inc., please visit --. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.