Lightstone Value Plus REIT IV, Inc., a real estate investment trust focused on real estate and real estate-related investments, has released its Form 10-Q report for the third quarter of 2025. The report provides a comprehensive overview of the company's financial performance and operational activities for the period ended September 30, 2025.
Financial Highlights
Total Revenue: $8.2 million for the three months ended September 30, 2025, compared to $8.5 million for the same period in 2024. The decrease was primarily due to a reduction in food, beverage, and other revenues.
Net Loss: $(374) thousand for the three months ended September 30, 2025, compared to $(1,369) thousand for the same period in 2024. The improvement was driven by a decrease in interest expense and a net casualty gain.
Net Loss Per Company’s Common Shares, Basic and Diluted: $(0.05) for the three months ended September 30, 2025, compared to $(0.14) for the same period in 2024.
Total Revenue: $21.9 million for the nine months ended September 30, 2025, compared to $21.3 million for the same period in 2024. The increase was due to higher room revenues reflecting improved occupancy and ADR.
Net Loss: $(3,979) thousand for the nine months ended September 30, 2025, compared to $(8,165) thousand for the same period in 2024. The reduction in net loss was attributed to lower interest expenses and a net casualty gain.
Net Loss Per Company’s Common Shares, Basic and Diluted: $(0.39) for the nine months ended September 30, 2025, compared to $(0.79) for the same period in 2024.
Business Highlights
[Hotel Operations]: The Williamsburg Moxy Hotel, a 216-room Marriott branded hotel located in Brooklyn, New York, experienced a high occupancy rate of 91% for the nine months ended September 30, 2025. The hotel reported a RevPAR of $244.77 and an ADR of $270.11, indicating strong performance in room revenue.
[Casualty Event and Recovery]: The Williamsburg Moxy Hotel suffered damage from a fire in December 2024, affecting one of its food and beverage venues. The hotel has filed an insurance claim and received advances totaling $1.5 million, with expectations of further recoveries related to business interruption.
[Joint Venture Developments]: The Williamsburg Moxy Hotel Joint Venture, in which the company holds a 75% interest, continues to be a significant part of operations. Lightstone REIT III holds the remaining 25% interest, and the joint venture is managed by the company.
[Real Estate Development]: The 40 East End Ave. Joint Venture, in which the company holds a 33.3% interest, has sold 27 out of 29 units in its luxury residential condominium project in Manhattan, New York. The remaining two units are expected to contribute to future cash flows.
[Future Outlook]: The company anticipates that cash flows from the Williamsburg Moxy Hotel and potential sales from the 40 East End Ave. Joint Venture will be sufficient to meet operational and financial obligations over the next 12 months. The company is also considering additional capital contributions from Lightstone REIT III if necessary.
[Operational Strategy]: The company continues to focus on real estate and real estate-related investments, including operating properties and development projects. The strategy includes potential investments in mezzanine loans, mortgage loans, and preferred equity interests, with a focus on development-related opportunities.
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