Form 8-K - Current report
22 December 2023 - 5:44AM
Edgar (US Regulatory)
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0001387061
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2023-12-19
2023-12-19
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UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): December 19, 2023
LIGHTSTONE VALUE PLUS REIT V, INC.
(Exact
Name of Registrant as Specified in Its Charter)
Maryland |
|
000-53650 |
|
20-8198863 |
(State
or other jurisdiction of
incorporation or organization) |
|
(Commission
File
Number) |
|
(I.R.S.
Employer
Identification
No.) |
1985 Cedar Bridge Avenue, Suite 1
Lakewood, New Jersey 08701
(Address
of principal executive offices) (Zip Code)
(732)
367-0129
(Registrant’s telephone number, including area code)
None
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ | Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act: None.
Title of each class | |
Trading Symbol(s) | |
Name of each exchange on which registered |
None | |
N/A | |
N/A |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
| Item
5.02 | Departure
of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. |
On
December 19, 2023, the board of directors (the “Board”) of Lightstone Value Plus REIT V, Inc. (the “Company”)
increased its size from seven members to eight members and appointed David Lichtenstein to fill the vacancy created thereby. Mr. Lichtenstein
had previously served on the Board from September 2017 through August 2021 as Chairman. After Mr. Lichtenstein resigned from the Board
in August 2021, he was designated Chairman Emeritus. Mr. Lichtenstein has served and will continue to serve as Chief Executive Officer
of the Company’s external adviser LSG Development LLC and LSG-BH II Property Manager LLC, the Company’s external property
management company.
Mr.
Lichtenstein, 63, founded both American Shelter Corporation and The Lightstone Group, LLC. From 1988 to the present, Mr. Lichtenstein
has served as Chairman of the Board of Directors and Chief Executive Officer of The Lightstone Group, LLC, directing all aspects of the
acquisition, financing and management of a diverse portfolio of multi-family, lodging, retail and industrial properties located in 20
states and Puerto Rico. From June 2004 to the present, Mr. Lichtenstein has served as the Chairman of the board of directors and Chief
Executive Officer of Lightstone Value Plus REIT I, Inc. and Lightstone Value Plus REIT LLC, its advisor. From April 2008 to the present,
Mr. Lichtenstein has served as the Chairman of the Board of Directors and Chief Executive Offer of Lightstone Value Plus REIT II, Inc.
and Lightstone Value Plus REIT II LLC, its advisor. From October 2012 to the present, Mr. Lichtenstein has served as the Chairman of
the board of directors of Lightstone Value Plus REIT III, Inc. and from April 2013 to the present, as the Chief Executive Officer of
Lightstone Value Plus REIT III, Inc. and of Lightstone Value Plus REIT III LLC, its advisor. From September 2014 to the present, Mr.
Lichtenstein has served as Chairman of the Board of Directors and Chief Executive Officer of Lightstone Value Plus REIT IV, Inc., , and
as Chief Executive Officer of Lightstone Real Estate Income LLC, its advisor. From October 2014 to the present, Mr. Lichtenstein has
served as Chairman of the Board of Directors and Chief Executive Officer of Lightstone Enterprises Limited. From July 2015 to the present,
Mr. Lichtenstein has served as a member of the Board of Directors of the New York City Economic Development Corporation. Mr. Lichtenstein
is also a member of the International Council of Shopping Centers and the National Association of Real Estate Investment Trusts, Inc.,
an industry trade group, as well as a member of the Board of Trustees of Touro College and New York Medical College.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
LIGHTSTONE
VALUE PLUS REIT V, INC. |
|
|
|
Dated: December
21, 2023 |
By: |
/s/
Seth Molod |
|
|
Seth Molod |
|
|
Chief Financial
Officer & Executive Vice President |
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