Summary of Key Points

Overview:

• Lightstone Value Plus REIT V, Inc. is a real estate investment trust (REIT) that acquires and operates commercial real estate and real estate-related assets on an opportunistic and value-add basis.
• The company’s current investments are all located in the U.S. and primarily consist of multifamily residential properties.
• Lightstone Value Plus REIT V is externally managed by the Advisor, an affiliate of Lightstone, and has no employees.

Financial Performance:

• For the three months ended March 31, 2025, the company reported:
  • Rental revenues of $13.6 million, up 10% from the prior year period
  • Property operating expenses of $4.4 million, up 14%
  • Net income of $15.0 million, compared to a loss of $2.5 million in the prior year period
  • Funds from Operations (FFO) of $1.2 million and Modified Funds from Operations (MFFO) of $1.5 million
• The increase in revenue and net income was primarily due to the acquisition of the Discovery at Space Coast Apartments in December 2024, partially offset by the disposition of the Autumn Breeze Apartments in February 2025.

Liquidity and Capital Resources:

• As of March 31, 2025, the company had $18.1 million in cash and cash equivalents, $3.9 million in marketable securities, and $36.8 million in restricted cash.
• The company intends to refinance its maturing mortgage debt over the next 12 months, and does not currently expect any issues in doing so.
• The company’s share redemption program allows for up to $2 million in quarterly redemptions, subject to certain limitations.

Outlook:

• The company’s operating results and financial condition are impacted by the overall health of the economy, including factors such as inflation, interest rates, and the availability of financing.
• The company will continue to focus on acquiring and operating commercial real estate assets on an opportunistic and value-add basis to achieve its investment objectives.