Lightstone Value Plus Real Estate Investment Trust (LVPR), a publicly registered non-traded real estate investment trust, has reported an estimated net asset value per share of USD11.80 as of 30 September 2012.
This is an increase of USD1.15 per share, or 10.8 per cent, above its previous estimated NAV per share of USD10.65 as of 31 December 2011 and USD1.80 per share, or 18.0 per cent, above its initial offering price per share of USD10.00.
"We are extremely proud of the efforts which resulted in the 10.8 per cent increase in LVPR’s NAV per share. Coupled with our 7.0 per cent distribution rate, the yield to our stockholders was 17.8 per cent for 2012 and those stockholders that invested at our inception have now received cumulative distributions equal to 48.7 per cent of their initial investment," says David Lichtenstein (pictured), LVPR’s chairman and chief executive. "We believe these accomplishments are a reflection of our unique ability to identify and target value creation opportunities in real estate investments and successfully deliver results."
On 21 December 2012, LVPR’s board of directors determined and approved LVPR’s estimated NAV of approximately USD359.3m and resulting NAV per common share of USD11.80, both as of 30 September 2012.