Lightstone Value Plus REIT IV, Inc., is a Maryland corporation, formed on September 9, 2014, which elected to qualify as a real estate investment trust for United States federal income tax purposes beginning with the taxable year ended December 31, 2016. 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, which served as our sponsor during our initial public 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 has one operating segment. As of June 30, 2025, the Company majority owned and consolidated the operating results of Bedford Avenue Holdings LLC, 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 Company accounts for its unconsolidated membership interest in the 40 East End Ave. Joint Venture in accordance with the equity method of accounting.