8-K: Lightstone Value Plus REIT V Completes $59.5 Million Sale of Autumn Breeze Apartments

Lightstone Value Plus REIT V, Inc. finalized the sale of its Autumn Breeze Apartments in Noblesville, Indiana, for $59.5 million on February 27, 2025.

Summary

• Lightstone Value Plus REIT V, Inc. completed the disposition of the Autumn Breeze Apartments on February 27, 2025.
• The 280-unit multifamily property located in Noblesville, Indiana, was sold to Independence Realty Operating Partnership, LP for $59.5 million.
• A non-recourse mortgage loan of $28.9 million was defeased at a cost of $28.0 million in connection with the disposition.
• The company's net proceeds from the sale were $29.9 million after defeasance costs, transaction costs, and pro rations.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as the company successfully completed a planned asset sale, generating net proceeds. There are no indications of distress or negative impacts.

Positives

• The completion of the sale provides Lightstone Value Plus REIT V, Inc. with $29.9 million in net proceeds.
• The sale allows the company to reallocate capital to other investment opportunities.

Industry Context

The sale reflects ongoing activity in the multifamily property market, with REITs adjusting their portfolios to optimize returns and capital allocation.

Stakeholder Impact

• Shareholders will see the benefit of the capital reallocation.
• Employees at the Autumn Breeze Apartments will likely transition under the new ownership.

Key Dates