Thu, Nov 14, 7:58 PM (236 days ago)
**Lightstone Value Plus REIT II, Inc. (LVP REIT II) - Q3 2024 Summary** For the quarter ending September 30, 2024, Lightstone Value Plus REIT II, Inc. reported a revenue decrease to $12.1 million from $12.6 million in Q3 2023, primarily due to the sale of two Florida hotels. The company incurred a net loss of $1.3 million, slightly improving from a loss of $1.4 million year-over-year. Profit margins remained stable, with operating expenses down to $8.7 million, reflecting reduced costs from the disposed properties. Cash flow from operations was positive at $0.4 million, contrasting with a negative cash flow of $0.8 million in the prior year. The REIT's total assets decreased to $197.1 million, with cash and equivalents at $27.7 million, down from $36.2 million at year-end 2023. The company maintained a mortgage payable of $101.1 million, with an interest rate of 8.41%. Looking ahead, the company's operations face uncertainties from economic conditions, including inflation and interest rate fluctuations. The REIT's future cash needs will be supported by operational revenues and potential asset sales, but management remains cautious regarding market conditions impacting performance.