Lightstone Value Plus REIT IV, Inc. ("Lightstone REIT IV''), is a Maryland corporation, formed on September 9, 2014, which elected to qualify as a real estate investment trust ("REIT") for United States ("U.S.") federal income tax purposes beginning with the taxable year ended December 31, 2016. Lightstone REIT IV, together with its subsidiaries is collectively referred to as the ''Company'' and the use of ''we,'' ''our,'' ''us'' or similar pronouns refers to Lightstone REIT IV or the Company as required by the context in which any such pronoun is used. The Company has and currently expects to continue to seek opportunities to invest in real estate and real estate-related investments. The Company's real estate investments may include operating properties and development projects and its real estate-related investment may include mezzanine loans, mortgage loans, bridge loans and preferred equity interests, with a focus on development-related investments, including investments intended to finance development or redevelopment opportunities. The Company may also invest in debt and derivative securities related to real estate assets. A portion of the Company's investments may be secured by or related to properties or entities advised by, or wholly or partially, directly or indirectly owned by (i) The Lightstone Group, LLC (the "Sponsor"), which served as our sponsor during our initial public offering (the "Offering"), which terminated on March 31, 2017, (ii) its affiliates and/or (iii) other real estate investment programs it sponsors. Although the Company expects that most of its investments will be of these various types, it may also make other investments. In fact, it may invest in whatever types of investments that it believes are in its best interests. The Company currently has one operating segment. As of March 31, 2024, the Company majority owned and consolidated the operating results of Bedford Avenue Holdings LLC (the "Williamsburg Moxy Hotel Joint Venture"), a joint venture in which it has a 75% membership interest, and held an unconsolidated approximate 33.3% membership interest in 40 East End Ave. Pref Member LLC (the "40 East End Ave. Joint Venture"). The Company accounts for its unconsolidated membership interest in the 40 East End Ave. Joint Venture in accordance with the equity method of accounting.