Lightstone Value Plus REIT II (LVPR) 10-K31 Mar 142013 FY Annual reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013	Mar. 15, 2014	Jun. 30, 2013
Document and Entity Information [Abstract]	'	'	'
Document Type	'10-K	'	'
Amendment Flag	'false	'	'
Document Period End Date	31-Dec-13	'	'
Entity Registrant Name	'LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II INC	'	'
Entity Central Index Key	'0001436975	'	'
Current Fiscal Year End Date	'--12-31	'	'
Document Fiscal Year Focus	'2013	'	'
Document Fiscal Period Focus	'FY	'	'
Entity Filer Category	'Smaller Reporting Company	'	'
Entity Common Stock, Shares Outstanding	'	8.7	'
Entity Current Reporting Status	'Yes	'	'
Entity Well-known Seasoned Issuer	'No	'	'
Entity Voluntary Filers	'No	'	'
Entity Public Float	'	'	$60.70

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Investment property:	'	'
Land and improvements	$8,942	$7,140
Building and improvements	35,567	27,284
Furniture and fixtures	8,706	2,589
Construction in progress	3,542	323
Gross investment property	56,757	37,336
Less accumulated depreciation	-2,670	-850
Net investment property	54,087	36,486
Investments in unconsolidated affiliated entities	3,834	5,950
Cash and cash equivalents	26,520	8,152
Marketable securities, available for sale	8,134	8,144
Restricted escrows	2,294	2,799
Notes receivable from affiliate	'	2,340
Prepaid expenses and other assets	957	863
Total assets	95,826	64,734
Liabilities and Stockholders' Equity	'	'
Accounts payable and other accrued expenses	1,356	1,017
Margin loan	1,906	2,716
Mortgages payable	24,260	11,157
Due to sponsor	107	113
Distributions payable	1,172	860
Total liabilities	28,801	15,863
Commitments and contingencies (Note 13)	'	'
Company's stockholders' equity:	'	'
Preferred shares, $0.01 par value, 10,000 shares authorized, none issued and outstanding	'	'
Common stock, $0.01 par value; 100,000 shares authorized, 7,643 and 5,311 shares issued and outstanding in 2013 and 2012, respectively	76	53
Additional paid-in capital	60,755	41,652
Subscription receivable	-25	'
Accumulated other comprehensive income	399	229
Accumulated (deficit)/surplus	-1,781	939
Total Company stockholders' equity	59,424	42,873
Noncontrolling interests	7,601	5,998
Total Stockholders' Equity	67,025	48,871
Total Liabilities and Stockholders' Equity	$95,826	$64,734

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
CONSOLIDATED BALANCE SHEETS [Abstract]	'	'
Preferred shares, par value	$0.01	$0.01
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	'	'
Preferred stock, shares outstanding	'	'
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	100,000	100,000
Common stock, shares issued	7,643	5,311
Common stock, shares outstanding	7,643	5,311

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]	'		'		'
Rental revenue	$13,058		$5,942		$2,978
Expenses:	'		'		'
Property operating expenses	8,464		3,329		1,500
Real estate taxes	648		216		173
General and administrative costs	1,583		1,953		1,579
Depreciation and amortization	1,822		558		295
Total operating expenses	12,517		6,056		3,547
Operating income/(loss)	541		-114		-569
Interest and dividend income	856		1,665		1,332
Gain on disposition of unconsolidated affiliated entity	'		741		'
Bargain purchase gain	1,263		7,857		'
Interest expense	-1,035		-535		-19
Other expense, net	-241		-9		-27
(Loss)/income from investments in unconsolidated affiliated entities	-14		159		-287
Net income	1,370	[1]	9,764	[2]	430
Less: net income attributable to noncontrolling interests	-40		-555		-28
Net income applicable to Company's common shares	$1,330		$9,209		$402
Net income/per Company's common share, basic and diluted	$0.21		$1.84		$0.10
Weighted average number of common shares outstanding, basic and diluted	6,235		5,016		3,978

[1]	Net income for the year ended December 31, 2013 includes a bargain purchase gain of $1.2 million in the 2nd quarter of 2013 in connection with the purchase of the Arkansas Hotel Portfolio. (See Note 3)
[2]	Net income for the year ended December 31, 2012 includes a bargain purchase gain of $7.8 million which includes a bargain purchase gain recorded in the 4th quarter of 2012 of $4.3 million in connection with the purchase of the Fairfield Inn - East Rutherford and a bargain purchase gain recorded in the 3rd quarter of 2012 of $3.5 million in connection with the purchase of the SpringHill Suites - Peabody. (See Note 3)

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) [Abstract]	'		'		'
Net income /(loss)	$1,370	[1]	$9,764	[2]	$430
Other comprehensive income/(loss):	'		'		'
Unrealized gain/(loss) on available for sale securities	165		2,443		-2,214
Reclassification adjustment for gains included in net income	5		'		'
Other comprehensive income/(loss)	170		2,443		-2,214
Comprehensive income/(loss)	1,540		12,207		-1,784
Less: Comprehensive income attributable to non-controlling interests	-40		-555		-28
Comprehensive income/(loss) attributable to the Company's common shares	$1,500		$11,652		($1,812)

[1]	Net income for the year ended December 31, 2013 includes a bargain purchase gain of $1.2 million in the 2nd quarter of 2013 in connection with the purchase of the Arkansas Hotel Portfolio. (See Note 3)
[2]	Net income for the year ended December 31, 2012 includes a bargain purchase gain of $7.8 million which includes a bargain purchase gain recorded in the 4th quarter of 2012 of $4.3 million in connection with the purchase of the Fairfield Inn - East Rutherford and a bargain purchase gain recorded in the 3rd quarter of 2012 of $3.5 million in connection with the purchase of the SpringHill Suites - Peabody. (See Note 3)

CONSOLIDATED_STATEMENTS_OF_STO

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $)	Total		Common Shares [Member]	Additional Paid-In Capital [Member]	Subscription Receivable [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	Accumulated Surplus/(Deficit) [Member]	Total Noncontrolling Interests [Member]
In Thousands	Total		Common Shares [Member]	Additional Paid-In Capital [Member]	Subscription Receivable [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	Accumulated Surplus/(Deficit) [Member]	Total Noncontrolling Interests [Member]
BALANCE at Dec. 31, 2010	$28,221		$35	$28,067	($366)	'	($2,817)	$3,302
BALANCE, shares at Dec. 31, 2010	'		3,467	'	'	'	'	'
Net income	430		'	'	'	'	402	28
Other comprehensive income/(loss)	-2,214		'	'	'	-2,214	'	'
Distributions declared	-2,587		'	'	'	'	-2,587	'
Distributions paid	-39		'	'	'	'	'	-39
Units issued to noncontrolling interests in exchange for investment in unconsolidated affiliated real estate entity	548		'	'	'	'	'	548
Contributions from noncontrolling interests	896		'	'	'	'	'	896
Proceeds from offering	9,833		10	9,561	262	'	'	'
Proceeds from offering, shares	'		960	'	'	'	'	'
Selling commissions and dealer manager fees	-943		'	-943	'	'	'	'
Other offering costs	-1,611		'	-1,611	'	'	'	'
Redemption and cancellation of shares	-434		-1	-433	'	'	'	'
Redemption and cancellation of shares, shares	'		-48	'	'	'	'	'
Shares issued from distribution reinvestment program	1,182		1	1,181	'	'	'	'
Shares issued from distribution reinvestment program, shares	'		124	'	'	'	'	'
Notes receivable issued to noncontrolling interests	'		'	'	'	'	'	'
BALANCE at Dec. 31, 2011	33,282		45	35,822	-104	-2,214	-5,002	4,735
BALANCE, shares at Dec. 31, 2011	'		4,503	'	'	'	'	'
Net income	9,764	[1]	'	'	'	'	9,209	555
Other comprehensive income/(loss)	2,443		'	'	'	2,443	'	'
Distributions declared	-3,268		'	'	'	'	-3,268	'
Distributions paid	-306		'	'	'	'	'	-306
Units issued to noncontrolling interests in exchange for investment in unconsolidated affiliated real estate entity	911		'	'	'	'	'	911
Contributions from noncontrolling interests	103		'	'	'	'	'	103
Proceeds from offering	7,152		7	7,041	104	'	'	'
Proceeds from offering, shares	'		706	'	'	'	'	'
Selling commissions and dealer manager fees	-715		'	-715	'	'	'	'
Other offering costs	-1,495		'	-1,495	'	'	'	'
Redemption and cancellation of shares	-458		-1	-457	'	'	'	'
Redemption and cancellation of shares, shares	'		-51	'	'	'	'	'
Shares issued from distribution reinvestment program	1,458		2	1,456	'	'	'	'
Shares issued from distribution reinvestment program, shares	'		153	'	'	'	'	'
Notes receivable issued to noncontrolling interests	'		'	'	'	'	'	'
BALANCE at Dec. 31, 2012	48,871		53	41,652	'	229	939	5,998
BALANCE, shares at Dec. 31, 2012	'		5,311	'	'	'	'	'
Net income	1,370	[2]	'	'	'	'	1,330	40
Other comprehensive income/(loss)	170		'	'	'	170	'	'
Distributions declared	-4,050		'	'	'	'	-4,050	'
Distributions paid	-175		'	'	'	'	'	-175
Contributions from noncontrolling interests	2,060		'	'	'	'	'	2,060
Proceeds from offering	21,966		22	21,969	-25	'	'	'
Proceeds from offering, shares	'		2,218	'	'	'	'	'
Selling commissions and dealer manager fees	-2,023		'	-2,023	'	'	'	'
Other offering costs	-1,937		'	-1,937	'	'	'	'
Redemption and cancellation of shares	-696		-1	-695	'	'	'	'
Redemption and cancellation of shares, shares	'		-75	'	'	'	'	'
Shares issued from distribution reinvestment program	1,791		2	1,789	'	'	'	'
Shares issued from distribution reinvestment program, shares	'		189	'	'	'	'	'
Notes receivable issued to noncontrolling interests	-322		'	'	'	'	'	-322
BALANCE at Dec. 31, 2013	$67,025		$76	$60,755	($25)	$399	($1,781)	$7,601
BALANCE, shares at Dec. 31, 2013	'		7,643	'	'	'	'	'

[1]	Net income for the year ended December 31, 2012 includes a bargain purchase gain of $7.8 million which includes a bargain purchase gain recorded in the 4th quarter of 2012 of $4.3 million in connection with the purchase of the Fairfield Inn - East Rutherford and a bargain purchase gain recorded in the 3rd quarter of 2012 of $3.5 million in connection with the purchase of the SpringHill Suites - Peabody. (See Note 3)
[2]	Net income for the year ended December 31, 2013 includes a bargain purchase gain of $1.2 million in the 2nd quarter of 2013 in connection with the purchase of the Arkansas Hotel Portfolio. (See Note 3)

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:	'		'		'
Net income	$1,370	[1]	$9,764	[2]	$430
Adjustments to reconcile net income to net cash provided by operating activities:	'		'		'
Depreciation and amortization	1,822		558		295
Amortization of deferred financing costs	83		65		'
Gain on disposition of investment in unconsolidated affiliated entity	'		-741		'
Bargain purchase gain	-1,263		-7,857		'
Loss/(income) from investments in unconsolidated affiliated entities	14		-159		287
Other non-cash adjustments	145		'		'
Changes in assets and liabilities:	'		'		'
Decrease in restricted escrows	157		136		474
Decrease/(increase) in prepaid expenses and other assets	24		-429		-86
Increase in accounts payable and other accrued expenses	400		330		15
(Decrease)/increase in due to sponsor	-6		39		-10
Net cash provided by operating activities	2,746		1,706		1,405
CASH FLOWS FORM INVESTING ACTIVITIES:	'		'		'
Purchase of investment property, net	-18,158		-9,808		-12,564
Purchase of marketable securities, net of margin loan	'		'		-4,575
Purchase of investments in unconsolidated affiliated entities	'		'		-3,993
Proceeds from sale of marektable securities	190		'		'
Purchase of restricted escrow	'		-835		'
Proceeds from disposition of investment in unconsolidated affiliated entity	'		560		'
Collections on note receivable from affiliate	2,340		60		'
Release/(funding) of restricted escrows	348		-1,807		'
Distributions from unconsolidated affiliated entities	2,103		289		'
Collections on mortgage loan receivable	'		'		60
Net cash used in investing activities	-13,177		-11,541		-21,072
CASH FLOWS FROM FINANCING ACTIVITIES:	'		'		'
Proceeds from mortgage financings	24,420		11,273		'
Payments on mortgages payable	-11,317		-116		'
Payment of loan fees and expenses	-359		-242		-30
Payment on margin loans	-810		-624		'
Proceeds from issuance of common stock	21,966		7,152		9,833
Payment of commissions and offering costs	-4,021		-2,242		-2,391
Redemption and cancellation of common stock	-696		-458		-434
Notes receivable from affiliates	-322		'		'
Contribution of noncontrolling interests	2,060		103		896
Distributions to noncontrolling interests	-175		-306		-39
Distributions to common stockholders	-1,947		-1,667		-1,231
Net cash provided by financing activities	28,799		12,873		6,604
Net change in cash and cash equivalents	18,368		3,038		-13,063
Cash and cash equivalents, beginning of year	8,152		5,114		18,177
Cash and cash equivalents, end of year	$26,520		$8,152		$5,114

[1]	Net income for the year ended December 31, 2013 includes a bargain purchase gain of $1.2 million in the 2nd quarter of 2013 in connection with the purchase of the Arkansas Hotel Portfolio. (See Note 3)
[2]	Net income for the year ended December 31, 2012 includes a bargain purchase gain of $7.8 million which includes a bargain purchase gain recorded in the 4th quarter of 2012 of $4.3 million in connection with the purchase of the Fairfield Inn - East Rutherford and a bargain purchase gain recorded in the 3rd quarter of 2012 of $3.5 million in connection with the purchase of the SpringHill Suites - Peabody. (See Note 3)

Organization

Organization	12 Months Ended
Organization	Dec. 31, 2013
Organization [Abstract]	'
Organization	'
	1. *Organization*

	Lightstone Value Plus Real Estate Investment Trust II, Inc. (the "Lightstone REIT II") is a Maryland corporation formed on April 28, 2008, which has qualified as a real estate investment trust ("REIT") for U.S. federal income tax purposes since its taxable year ending December 31, 2009. The Lightstone REIT II was formed primarily for the purpose of engaging in the business of investing in and owning commercial and residential real estate properties, as well as other real estate-related investments, located principally in North America.

	The Lightstone REIT II is structured as an umbrella partnership REIT, or UPREIT, and substantially all of its current and future business is and will be conducted through Lightstone Value Plus REIT II LP (the "Operating Partnership"), a Delaware limited partnership formed on April 30, 2008.

	The Lightstone REIT II and the Operating Partnership and its subsidiaries are collectively referred to as the ''Company'' and the use of ''we,'' ''our,'' ''us'' or similar pronouns refers to the Lightstone REIT II, its Operating Partnership or the Company as required by the context in which such pronoun is used.

	Offering and Structure

	Our sponsor David Lichtenstein ("Lichtenstein"), who does business as the Lightstone Group (the "Sponsor") and majority owns the limited liability company of that name with a diversified portfolio of over 100 properties containing approximately 10,600 multifamily units, 1.3 million square feet of office space, 2.2 million square feet of industrial space, 17 hotels and 3.3 million square feet of retail space. The residential, office, industrial and retail properties are located in 20 states, the District of Columbia and Puerto Rico. Based in New York, and supported by regional offices in New Jersey, Maryland and Illinois, our sponsor employs approximately 400 staff and professionals.

	Our advisor is Lightstone Value Plus REIT II LLC (the "Advisor"), which is wholly owned by our Sponsor. Our Advisor, together with our Board of Directors, is and will continue to be primarily responsible for making investment decisions and managing our day-to-day operations. Through his ownership and control of The Lightstone Group, Mr. Lichtenstein is the indirect owner of our Advisor and the indirect owner and manager of Lightstone SLP II LLC, the associate general partner of our Operating Partnership. Mr. Lichtenstein also acts as our Chairman and Chief Executive Officer. As a result, he controls both the general partner and associate general partner of our Operating Partnership and is the decision-maker of our Operating Partnership.

	We do not have and will not have any employees that are not also employed by our Sponsor or its affiliates. We depend substantially on our Advisor, which generally has responsibility for our day-to-day operations. Under the terms of the advisory agreement, the Advisor also undertakes to use its commercially reasonable best efforts to present to us investment opportunities consistent with our investment policies and objectives as adopted by our Board of Directors.

	We have two affiliated property managers (our "Property Managers"), which may manage the properties we acquire. We also use other unaffiliated third-party property managers, principally for the management of our hospitality properties. Our Property Managers are Paragon Retail Property Management LLC ("Paragon") and Beacon Property Management LLC ("Beacon"), all of which are majority owned and controlled by our Sponsor. Paragon develops and redevelops all the factory outlet malls and certain retail properties controlled by our Sponsor. Beacon is a significant manager in the multi-family residential housing sector and oversees the management of approximately 11,000 multifamily units.

	On April 24, 2009, we commenced an initial public offering (the "Offering") to sell a maximum of 51.0 million shares of common stock at a price of $10 per share (the "Primary Offering") and 6.5 million shares of common stock available pursuant to our distribution reinvestment program (the "DRIP"). We also have 75,000 shares reserved for issuance under our stock option plan and 255,000 shares reserved for issuance under our employee and director incentive restricted share plan. Our Registration Statement on Form S-11 (the "Registration Statement") was declared effective under the Securities Act of 1933 on February 17, 2009, and on April 24, 2009, we began offering our shares of common stock for sale to the public.

	The Offering, which terminated on August 15, 2012, raised aggregate gross proceeds of approximately $49.8 million from the sale of approximately 5.0 million shares of common stock. After allowing for the payment of approximately $5.2 million in selling commissions and dealer manager fees and $4.5 million in organization and other offering expenses, the Offering generated aggregate net proceeds of approximately $40.1 million. In addition, through August 15, 2012 (the termination date of the Offering), the Company had issued approximately 0.3 million shares of common stock under its DRIP, representing approximately $2.9 million of additional proceeds.

	The Company's registration statement on Form S-11 (the "Follow-On Offering"), pursuant to which it is offering to sell up to 30,000,000 shares of its common stock for $10.00 per share, subject to certain volume discounts (exclusive of 2,500,000 shares available pursuant to its DRIP at an initial purchase price of $9.50 per share and 255,000 shares reserved for issuance under its Employee and Director Incentive Restricted Share Plan) was declared effective by SEC under the Securities Act of 1933 on September 27, 2012. As of December 31, 2013, we had received aggregate gross proceeds of approximately $22.8 million from the sale of approximately 2.3 million shares of our common stock in our Follow-On Offering. The Company intends to sell shares of its common stock under the Follow-On Offering until the earlier of the date on which all the shares are sold, or September 27, 2014, two years from the date the Follow-On Offering was declared effective by the SEC. The Company reserves the right to reallocate the shares of common stock it is offering between the Primary Offering and the DRIP. Additionally, the Follow-On Offering may be terminated at any time.

	Effective July 8, 2011, ICON Securities Corp. ("ICON Securities") became the dealer manager ("Dealer Manager") of the Company's Offering pursuant to an Assignment and Amendment of Dealer Manager Agreement (the "Assignment and Amendment"). Pursuant to the Assignment and Amendment, ICON Securities was assigned the Dealer Manager Agreement between Lightstone Securities LLC ("Lightstone Securities") and the Company dated February 17, 2009 and assumed all of Lightstone Securities' rights and obligations thereunder from and after the effective date of the Assignment and Amendment. Prior to July 8, 2011, Lightstone Securities served as the dealer manager for the Company's Offering. As of July 8, 2011, upon effectiveness of the Assignment and Amendment, the Wholesaling Agreement between the Company, Lightstone Securities and ICON Securities was terminated.

	Effective September 27, 2012, Orchard Securities, LLC ("Orchard Securities") became the Dealer Manager of the Company's Follow-On Offering.

	All further references to the Dealer Manager will be deemed to refer to either Lightstone Securities, ICON Securities or Orchard Securities during the respective period of time that each was serving in such capacity.

	As of December 31, 2013, the Advisor owned 20,000 shares of common stock which were issued on May 20, 2008 for $200, or $10.00 per share. In addition, as of September 30, 2009, the Company had reached the minimum offering under its Offering by receiving subscriptions of its common shares, representing gross offering proceeds of approximately $6.5 million, and effective October 1, 2009 investors were admitted as stockholders and the Operating Partnership commenced operations. Through December 31, 2013, cumulative gross offering proceeds of $72.6 million were released to the Company. The Company invested the proceeds received from the Offering, the Follow-On Offering and the Advisor in the Operating Partnership, and as a result, held a 99.9% general partnership interest as of December 31, 2013 in the Operating Partnership's common units.

	The Company's shares of common stock are not currently listed on a national securities exchange. The Company may seek to list its shares of common stock for trading on a national securities exchange only if a majority of its independent directors believe listing would be in the best interest of its stockholders. The Company does not intend to list its shares at this time. The Company does not anticipate that there would be any market for its shares of common stock until they are listed for trading. In the event the Company does not obtain listing prior to the tenth anniversary of the completion or termination of its Offering, its charter requires that the Board of Directors must either (i) seek stockholder approval of an extension or amendment of this listing deadline; or (ii) seek stockholder approval to adopt a plan of liquidation of the corporation.

	Noncontrolling Interest - Partners of Operating Partnership

	The noncontrolling interests consist of (i) parties of the Company that hold units in the Operating Partnership and (ii) certain interests in LVP Metairie JV LLC, LVP East Rutherford LLC, LVP TPS Little Rock Holdings LLC and LVP TPS Fayetteville Holdings LLC which are not owned by the Company.

	On May 20, 2008, the Advisor contributed $2 to the Operating Partnership in exchange for 200 limited partner common units in the Operating Partnership. The limited partner has the right to convert Operating Partnership common units into cash or, at our option, an equal number of shares of our common stock, as allowed by the limited partnership agreement.

	Lightstone SLP II LLC, which is wholly owned by our Sponsor, committed to purchase subordinated profits interests in our Operating Partnership ("Subordinated Profits Interests") at a cost of $100,000 per unit for each $1.0 million in subscriptions up to ten percent of the proceeds from the primary shares under the Offering and Follow-On Offering on a semi-annual basis beginning with the quarter ended June 30, 2010. Lightstone SLP II LLC may elect to purchase the Subordinated Profits Interests with either cash or an interest in real property of equivalent value. Any proceeds received from the cash sale of the Subordinated Profits Interests will be used to offset payments made by the Company from offering proceeds to pay the dealer manager fees, selling commissions and organization and other offering expenses.

	From our inception through December 31, 2013, our Sponsor contributed cash of approximately $1.6 million and elected to contribute equity interests totaling 48.6% in Brownmill, LLC ("Brownmill") in exchange for 64.0 Subordinated Profits Interests with an aggregate value of $6.4 million. See "Sponsor's Contribution of Equity Interests in Brownmill" below for additional information. Our Sponsor may continue to elect to contribute interests in real property in lieu of cash in exchange for Subordinated Profits Interests in order to fulfill its semi-annual commitment.

	Operations - Operating Partnership Activity

	Our Operating Partnership commenced its operations on October 1, 2009. Since then we have and will continue to seek to acquire and operate commercial, residential, and hospitality properties, principally in North America through our Operating Partnership. Our commercial holdings will consist of retail (primarily multi-tenanted shopping centers), lodging, industrial and office properties. All such properties may be acquired and operated by us alone or jointly with another party. In addition, we may invest up to 20% of our net assets in collateralized debt obligations, commercial mortgage-backed securities ("CMBS") and mortgage and mezzanine loans secured, directly or indirectly, by the same types of properties which it may acquire directly.

	Related Parties

	Our Advisor, Property Managers and Dealer Manager are each related parties. Each of these entities have or will receive compensation and fees for services related to the Offering and will continue to receive compensation and fees and services for the investment and management of our assets. These entities will receive fees during the offering, acquisition, operational and liquidation stages. The compensation levels during the offering, acquisition and operational stages are based on percentages of the offering proceeds sold, the cost of acquired properties and the annual revenue earned from such properties, and other such fees outlined in each of the respective agreements. See Note 12 for additional information.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2013
Summary of Significant Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	2. *Summary of Significant Accounting Policies*

	Basis of Presentation

	The consolidated financial statements include the accounts of Lightstone REIT II and the Operating Partnership and its subsidiaries (over which Lightstone REIT exercises financial and operating control). As of December 31, 2013, the Company had a 99.9% general partnership interest in the Operating Partnership. All inter-company balances and transactions have been eliminated in consolidation.

	The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). GAAP requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during a reporting period. The most significant assumptions and estimates relate to the valuation of real estate and investments in other real estate entities, depreciable lives of long-lived assets and revenue recognition. Application of these assumptions requires the exercise of judgment as to future uncertainties and, as a result, actual results could differ from these estimates.

	Investments in other real estate entities where the Company has the ability to exercise significant influence, but does not exercise financial and operating control, and is not considered to be the primary beneficiary will be accounted for using the equity method. Investments in other real estate entities where the Company has virtually no influence will be accounted for using the cost method.

	Cash and Cash Equivalents

	The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. All cash equivalents are held in commercial paper and money market funds.

	Supplemental disclosure of cash flow information:		Year Ended December 31,
			2013			2012				2011

	Cash paid for interest		$	939		$	413			$	-
	Distributions declared		$	4,050		$	3,268			$	2,587
	Marketable securities purchased with margin loan, net		$	-		$	-			$	3,340
	Noncash commissions and other offering costs in accounts payable and other accrued expenses		$	193		$	254			$	286
	Subscription receivable		$	25		$	(104	)		$	(262	)
	Value of shares issued from distribution reinvestment program		$	1,791		$	1,458			$	1,182
	Issuance of units in exchange for investment in unconsolidated affiliated entities		$	-		$	911			$	548
	Restricted escrow deposits and related liability initially established related to acquisition of mortgage loan receivable		$	-		$	-			$	205
	Note receivable received in connection with disposition of investment in unconsolidated affiliated entity		$	-		$	2,400			$	-
	Satisfaction of promissory note		$	-		$	7,029			$	-

	Marketable Securities

	Marketable securities consist of equity securities and corporate bonds that are designated as available-for-sale and are recorded at fair value. Unrealized holding gains or losses will be reported as a component of accumulated other comprehensive income (loss). Realized gains or losses resulting from the sale of these securities will be determined based on the specific identification of the securities sold. An impairment charge will be recognized when the decline in the fair value of a security below the amortized cost basis is determined to be other-than-temporary. The Company will consider various factors in determining whether to recognize an impairment charge, including the duration and severity of any decline in fair value below our amortized cost basis, any adverse changes in the financial condition of the issuers and our intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value. The Board has authorized the Company from time to time to invest the Company's available cash in marketable securities of real estate related companies. The Board of Directors has approved investments up to 30% of the Company's total assets to be made at the Company's discretion, subject to compliance with any REIT or other restrictions.

	Revenue Recognition

	The Company invests in real estate assets that generate rental income. Minimum rents will be recognized on a straight-line accrual basis, over the terms of the related leases. The capitalized above-market lease values and the capitalized below-market lease values will be amortized as an adjustment to rental income over the initial lease term. Percentage rents, which are based on commercial tenants' sales, will be recognized once the sales reported by such tenants exceed any applicable breakpoints as specified in the tenants' leases. Recoveries from commercial tenants for real estate taxes, insurance and other operating expenses, and from residential tenants for utility costs, will be recognized as revenues in the period that the applicable costs are incurred. Revenues from the operations of the hotel are recognized when the services are provided.

	Accounts Receivable

	The Company makes estimates of the uncollectability of its accounts receivable related to base rents, expense reimbursements and other revenues. The Company analyzes accounts receivable and historical bad debt levels, customer credit worthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. In addition, tenants in bankruptcy are analyzed and estimates are made in connection with the expected recovery of pre-petition and post-petition claims. The Company's reported net income or loss is directly affected by management's estimate of the collectability of accounts receivable.

	Investment in Real Estate

	Accounting for Acquisitions

	When the Company makes an investment in real estate, the fair value of the real estate acquired is allocated to the acquired tangible assets, consisting of land, building and tenant improvements, and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases for acquired in-place leases and the value of tenant relationships, based in each case on their fair values. Purchase accounting is applied to assets and liabilities related to real estate entities acquired based upon the percentage of interest acquired. Fees incurred related to acquisitions are expensed as incurred and recorded in general and administrative costs in the consolidated statements of operation. Transaction costs incurred related to the Company's investments in unconsolidated affiliated entities, accounted for under the equity method of accounting, are capitalized as part of the cost of the investment.

	Upon the acquisition of real estate operating properties, the Company estimates the fair value of acquired tangible assets and identified intangible assets and liabilities and certain liabilities such as assumed debt and contingent liabilities, at the date of acquisition, based on evaluation of information and estimates available at that date. Based on these estimates, the Company allocates the initial purchase price to the applicable assets, liabilities and noncontrolling interests, if any. As final information regarding fair value of the assets acquired, liabilities assumed and noncontrolling interests is received and estimates are refined, appropriate adjustments are be made to the purchase price allocation. The allocations are finalized as soon as all the information necessary is available and in no case later than within twelve months from the acquisition date.

	In determining the fair value of the identified intangible assets and liabilities of an acquired property, above-market and below-market in-place lease values are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management's estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of the lease. The capitalized above-market lease values and the capitalized below-market lease values are amortized as an adjustment to rental income over the initial non-cancelable lease term and any fixed-rate renewal periods, which are reasonably assured, in the respective leases.

	The aggregate value of in-place leases is determined by evaluating various factors, including an estimate of carrying costs during the expected lease-up periods, current market conditions and similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses, and estimates of lost rental revenue during the expected lease-up periods based on current market demand. Management also estimates costs to execute similar leases including leasing commissions, legal and other related costs. Optional renewal periods are not considered.

	The aggregate value of other acquired intangible assets includes tenant relationships. Factors considered by management in assigning a value to these relationships include: assumptions of probability of lease renewals, investment in tenant improvements, leasing commissions and an approximate time lapse in rental income while a new tenant is located. The value assigned to this intangible asset is amortized over the remaining lease terms.

	Carrying Value of Assets

	The amounts capitalized as a result of periodic improvements and additions to real estate property, when applicable, and the periods over which the assets are depreciated or amortized, are determined based on the application of accounting standards that may require estimates as to fair value and the allocation of various costs to the individual assets. Differences in the amount attributed to the assets can be significant based upon the assumptions made in calculating these estimates.

	Impairment Evaluation

	Management evaluates the recoverability of its investments in real estate assets at the lowest identifiable level, the individual property level. Long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. An impairment loss is recognized only if the carrying amount of a long-lived asset is not recoverable and exceeds its fair value.

	The Company evaluates the long-lived assets for potential impairment on a quarterly basis and records an impairment charge when there is an indicator of impairment and the undiscounted projected cash flows are less than the carrying amount for a particular property. The estimated cash flows used for the impairment analysis and the determination of estimated fair value are based on the Company's plans for the respective assets and the Company's views of market and economic conditions. The estimates consider matters such as current and historical rental rates, occupancies for the respective properties and comparable properties, and recent sales data for comparable properties. Changes in estimated future cash flows due to changes in the Company's plans or views of market and economic conditions could result in recognition of impairment losses, which, under the applicable accounting guidance, could be substantial. As of December 31, 2013 and 2012, the Company did not recognize any impairment charges.

Depreciation and Amortization

Depreciation expense is computed based on the straight-line method over the estimated useful life of the applicable real estate asset. We generally use estimated useful lives of up to thirty-nine years for buildings and improvements and five to ten years for furniture, fixtures and equipment. Expenditures for tenant improvements and construction allowances paid to commercial tenants are capitalized and amortized over the initial term of each lease. Expenditures for ordinary maintenance and repairs are charged to expense as incurred.

Deferred Costs

The Company capitalizes initial direct costs associated with financing and leasing activities. The costs are capitalized upon the execution of the loan or lease and amortized over the initial term of the corresponding loan or lease. Amortization of deferred loan costs begins in the period during which the loan is originated using the effective interest method over the term of the loan. Deferred leasing costs are not amortized to expense until the earlier of the store opening date or the date the tenant's lease obligation begins.

Investments in Unconsolidated Affiliated Entities

The Company evaluates its investments in other entities for consolidation. The percentage interest in the joint venture, evaluation of control and whether a variable interest entity ("VIE") exists are all considered in determining if the investment qualifies for consolidation.

The Company accounts for its investments in unconsolidated affiliated entities using the equity or cost method of accounting, as appropriate. Under the equity method, the investment is recorded initially at cost, and subsequently adjusted for equity in net income/(loss) and cash contributions and distributions. The net income/(loss) of each investor is allocated in accordance with the provisions of the applicable operating agreements of the entities. The allocation provisions in these agreements may differ from the ownership interest held by each investor. Differences between the carrying amount of the Company's investment in the respective joint venture and the Company's share of the underlying equity of such unconsolidated affiliated entities are amortized over the respective lives of the underlying assets as applicable. These items are reported as a single line item in the consolidated statements of operations as income or loss from investments in unconsolidated affiliated entities. Under the cost method of accounting, the investment is recorded initially at cost, and subsequently adjusted for cash contributions and distributions resulting from any capital events. Dividends earned from the underlying entities are recorded as interest income in the consolidated statements of operations.

On a quarterly basis, the Company assesses whether the value of the investments in unconsolidated affiliated entities has been impaired. An investment is impaired only if management's estimate of the fair value of the investment is less than the carrying value of the investment, and such decline in value is deemed to be other than temporary. To the extent impairment has occurred, the loss shall be measured as the excess of the carrying amount of the investment over the fair value of the investment. Management's estimate of value for each investment is based on a number of assumptions that are subject to economic and market uncertainties. As these factors are difficult to predict and are subject to future events that may alter our assumptions, the values estimated by management in the impairment analysis may not be realized. Any decline that is not considered temporary will result in the recording of an impairment charge. Management believes no impairment of its investments in unconsolidated affiliated entities existed as of December 31, 2013 and 2012.

Income Taxes

We elected to be taxed as a REIT in conjunction with the filing of our 2009 U.S. federal income tax return. If we remain qualified as a REIT, we generally will not be subject to U.S. federal income tax on our net taxable income that we distribute currently to our stockholders. To maintain our REIT qualification under the Internal Revenue Code of 1986, as amended, or the Code, we must meet a number of organizational and operational requirements, including a requirement that we annually distribute to our stockholders at least 90% of our REIT taxable income (which does not equal net income, as calculated in accordance with GAAP), determined without regard to the deduction for dividends paid and excluding any net capital gain. If we fail to remain qualified for taxation as a REIT in any subsequent year and do not qualify for certain statutory relief provisions, our income for that year will be taxed at regular corporate rates, and we may be precluded from qualifying for treatment as a REIT for the four-year period following our failure to qualify as a REIT. Such an event could materially adversely affect our net income and net cash available for distribution to our stockholders.

The tax years subsequent to and including 2010 remain open to examination by the major taxing jurisdictions to which we are subject.

Additionally, even if we qualify as a REIT for U.S. federal income tax purposes, we may still be subject to some U.S. federal, state and local taxes on our income and property and to U.S. federal income taxes and excise taxes on our undistributed income.

Fair Value of Financial Instruments

The carrying amounts of cash and cash equivalents, restricted escrows, prepaid expenses and other assets, accounts payable and other accrued expenses, the margin loan, due to sponsor, and distributions payable approximated their fair values as of December 31, 2013 because of the short maturity of these instruments. The estimated fair value of our mortgages payable is as follows:

		As of December 31, 2013							As of December 31, 2012
(Dollars in thousands)		Carrying Amount			Estimated Fair				Carrying Amount				Estimated Fair
					Value								Value
Mortgages payable		$	24,260		$	23,898			$	11,157			$	11,157

Selling Commission, Dealer Manager Fees and Organization and Other Offering Costs

Selling commissions and dealer manager fees paid to the Dealer Manager, and other third-party offering expenses such as registration fees, due diligence fees, marketing costs, and professional fees are accounted for as a reduction against additional paid-in capital ("APIC") as costs are incurred. Any organization costs are expensed as general and administrative costs. Through December 31, 2013, the Company has incurred approximately $7.3 million in selling commissions and dealer manager fees and $7.9 million of other offering costs. From the commencement of the offering through December 31, 2013, the Company has recorded approximately $15.2 million of these costs against APIC.

Accounting for Derivative Financial Investments and Hedging Activities.

The Company may enter into derivative financial instrument transactions in order to mitigate interest rate risk on a related financial instrument. The Company may designate these derivative financial instruments as hedges and apply hedge accounting. The Company will record all derivative instruments at fair value on the consolidated balance sheet.

Derivative instruments designated in a hedge relationship to mitigate exposure to variability in expected future cash flows, or other types of forecasted transactions, will be considered cash flow hedges. The Company will formally document all relationships between hedging instruments and hedged items, as well as our risk- management objective and strategy for undertaking each hedge transaction. The Company will periodically review the effectiveness of each hedging transaction, which involves estimating future cash flows. Cash flow hedges will be accounted for by recording the fair value of the derivative instrument on the consolidated balance sheet as either an asset or liability, with a corresponding amount recorded in accumulated other comprehensive income (loss) within stockholders' equity. Amounts will be reclassified from other comprehensive income (loss) to the consolidated statement of operations in the period or periods the hedged forecasted transaction affects earnings. Derivative instruments designated in a hedge relationship to mitigate exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, will be considered fair value hedges. The effective portion of the derivatives gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings when the transaction affects earnings. The ineffective portion of the gain or loss is reported in earnings immediately.

Stock-Based Compensation

The Company has an Employee and Director Incentive Restricted Share Plan. Awards, if any, will be granted at the fair market value on the date of the grant with fair value estimated using the Black-Scholes-Merton option valuation model, which incorporates assumptions surrounding the volatility, dividend yield, the risk-free interest rate, expected life, and the exercise price as compared to the underlying stock price on the grant date. As stock-based compensation expense recognized in the consolidated statements of operations will be based on awards ultimately expected to vest, the amount of expense will be reduced for forfeitures estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Forfeitures will be estimated based on historical experience. The tax benefits associated with these share-based payments will be classified as financing activities in the consolidated statement of cash flows. The Company has not granted any stock-based incentive awards.

Concentration of Risk

The Company maintains its cash in bank deposit accounts, which, at times, may exceed U.S. federally insured limits. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents.

Basic and Diluted Net Earnings per Common Share

The Company had no potentially dilutive securities outstanding during the periods presented. Accordingly, earnings per share is calculated by dividing net income/(loss) attributable to common shareholders by the weighted-average number of shares of common stock outstanding during the applicable period.

New Accounting Pronouncements

The Company has determined that no new accounting pronouncement issued or effective during the period had or is expected to have a material impact on its consolidated financial position, results of operations and cash flows, or do not apply to its operations.

Reclassifications

Certain prior period amounts may have been reclassified to conform to the current year presentation.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2013
Acquisitions [Abstract]	'
Acquisitions	'
	3. *Acquisitions*

	Arkansas Hotel Portfolio

	On June 18, 2013, the Company, through LVP TPS Little Rock Holdings LLC and LVP TPS Fayetteville Holdings, LLC, both joint venture subsidiaries of our Operating Partnership, completed the portfolio acquisition of 95% ownership interests in two 92-room limited service hotels (the "Arkansas Hotel Portfolio"), which operate as TownePlace Suites by Marriott, located in Little Rock, which we refer to as the TownePlace Suites - Little Rock, and Johnson/Springdale, Arkansas, which we refer to as the TownePlace Suites - Fayetteville, from certain limited liability companies controlled by the same seller, an unrelated third party. The remaining 5% ownership interests were acquired by TPSLR, LLC for the TownePlace Suites - Little Rock and TPSFN, LLC for the TownePlace Suites - Fayetteville, respectively, both unrelated third parties.

	The Arkansas Hotel Portfolio was acquired as part of a transaction in which the third party sellers sold a portfolio of four hotel properties, two of which comprise the Arkansas Hotel Portfolio, and two hotel properties acquired by Lightstone Value Plus Real Estate Investment Trust, Inc. ("Lightstone REIT I"). The aggregate purchase price paid for the four properties was $29.1 million, of which $10.7 million related to the Arkansas Hotel Portfolio and such amount was determined based on an internal allocation of the purchase price which was approved by the separate boards of directors of the Company and Lightstone REIT I. Additionally, in connection with the acquisition, our advisor received an acquisition fee equal to 0.95% of the contractual purchase price of $10.7 million, or approximately $102. The fair value of the assets acquired of $11.9 million exceeded the aggregate cost of $10.7 million, resulting in the recognition of a bargain purchase gain of approximately $1.2 million in the consolidated statements of operations during the second quarter of 2013.

	The acquisition was funded with $3.7 million in cash and a $7.0 million demand note, or the Demand Note, entered into between our Operating Partnership and Lightstone Value Plus Real Estate Investment Trust, Inc. ("Lightstone REIT I"). The Demand Note was due on demand and bore interest at a floating rate of LIBOR plus 4.95%. We paid $3.0 million of the Demand Note's balance in June 2013 and repaid the remaining $4.0 million on July 30, 2013.

	We established a separate taxable REIT subsidiary, or TRS for both the TownePlace Suites - Fayetteville and the TownePlace Suites - Little Rock, respectively, which have each entered into operating lease agreements for each respective hotel. At closing, each TRS entered into a separate management agreement with a management company controlled by the minority owner of each hotel for the management of the respective hotel. Additionally, each TRS entered into a 20-year franchise agreement, or the Franchise Agreement, with Marriott, pursuant to which the TownePlace Suites - Fayetteville and the TownePlace Suites - Little Rock Hotel will both continue to operate as a "TownePlace Suites by Marriott," which commenced on June 18, 2013.

	The acquisition of the Arkansas Hotel Portfolio was accounted for under the purchase method of accounting with the Company treated as the acquiring entity. Accordingly, the consideration paid by the Company to complete the acquisition of the Arkansas Hotel Portfolio has been allocated to the assets acquired based upon their estimated fair values as of the date of the acquisition. There was no contingent consideration related to this acquisition. Approximately $2.0 million was allocated to land and improvements, $8.0 million was allocated to building and improvements, and $1.9 million was allocated to furniture and fixtures and other assets.

	The aggregate capitalization rate for the Arkansas Hotel Portfolio as of the closing of the acquisition was approximately 10.6%. We calculate the capitalization rate for a real property by dividing net operating income of the property by the purchase price of the property, excluding costs. For purposes of this calculation, net operating income is determined using the projected or budgeted net operating income based upon then-current projections. Additionally, net operating income is all gross revenues from the property less all operating expenses, including property taxes and management fees but excluding depreciation.

	SpringHill Suites - Peabody

	On July 13, 2012, the Company entered into an Assignment and Assumption of Purchase and Sale Agreement (the "Assignment") with Lightstone Acquisitions V LLC (the "Assignor"), an affiliate of the Company's Sponsor. Under the terms of the Assignment, the Company was assigned the rights and assumed the obligations of the Assignor with respects to certain Purchase and Sale Agreement (the "Purchase Agreement"), dated March 12, 2012, made between the Assignor as the Purchaser and Springhill Peabody HH LLC as the Seller, as amended, whereby the Assignor contracted to purchase a six story, 164-suite, limited services hotel located in Peabody, Massachusetts which operates as a SpringHill Suites by Marriott (the "SpringHill Suites - Peabody") which was constructed and commenced operations in July 2002.

	On July 13, 2012, the Company completed the acquisition of the SpringHill Suites - Peabody from the Seller, an unrelated third party. In connection with the acquisition, the Company assumed the existing Management Agreement with Marriott and simultaneously gave the requisite 30-day notice for early termination, which required the payment of a termination fee (the "Termination Fee") of approximately $1.2 million to Marriott. Contemporaneously, the Company entered into a 20-year franchise agreement (the "Franchise Agreement") with Marriott, pursuant to which the SpringHill Suites - Peabody continued to operate as a SpringHill Suites by Marriott commencing on August 11, 2012. The Company has established a TRS, which has entered into an operating lease agreement for the SpringHill Suites - Peabody. The TRS has also entered into a new management agreement (the "SSH Peabody Management Agreement") with an unrelated third party for the management of the SpringHill Suites - Peabody which commenced on August 11, 2012.

	The SSH Peabody Management Agreement has an initial term of one-year and automatically renews for additional one-year terms on the anniversary date provided 60-day advance written notice is not provided by either party. The SSH Peabody Management Agreement provides for (i) a basic management fee equal to 3% of total revenues, (ii) a centralized accounting services fee of $3 per month, subject annual increases based on the consumer price index, and (iii) an incentive management fee equal to 15% of the amount by which gross operating profit, as defined, exceeds a prescribed threshold, subject to a cap of 2.0% of total annual revenues.

	The aggregate cost for the SpringHill Suites - Peabody was approximately $10.1 million, including the Termination Fee and approximately $0.8 million for a furniture, fixtures and equipment reserve (the "FFE Reserve") held in escrow by Marriott. In connection with the acquisition, the Company's incurred closing and other transaction costs of approximately $0.2 million, including an acquisition fee equal to 0.95% of the contractual purchase price less the Termination Fee, or approximately $85, paid to the Company's advisor. The acquisition was funded in part with cash and proceeds from a $5.3 million mortgage obtained by the Company from the Bank of the Ozarks. The FFE Reserve was subsequently released from escrow by Marriott in October 2012 as a result of the termination of the existing Management Agreement.

	The acquisition was accounted for under the purchase method of accounting with the Company treated as the acquiring entity. Accordingly, the consideration paid by the Company to complete the acquisition has been allocated to the assets acquired based upon their fair values as of the date of the acquisition. The fair value of the assets acquired of $13.6 million exceeded the aggregate cost of $10.1 million, resulting in the recognition of a bargain purchase gain of approximately $3.5 million in the consolidated statements of operations during the third quarter of 2012. There was no contingent consideration related to this acquisition. Approximately $2.8 million was allocated to land, $9.0 million was allocated to building and improvements and $1.0 million was allocated to furniture and fixtures. Additionally, the FFE Reserve was recorded at its cost of approximately $0.8 million.

	The capitalization rate for the SpringHill Suites - Peabody as of the closing of the acquisition was 10.5%. We calculate the capitalization rate for a real property by dividing net operating income of the property by the purchase price of the property, excluding costs. For purposes of this calculation, net operating income was determined using the projected or budgeted net operating income of the property based upon then-current projections. Additionally, net operating income is all gross revenues from the property less all operating expenses, including property taxes and management fees but excluding depreciation.

	Restructuring of Mortgage Loan Secured by a Limited Service Hotel Located in East Rutherford, New Jersey (the "Fairfield Inn - East Rutherford") and Simultaneous Acquisition of the Hotel.

	On December 31, 2012, the Company, and LVP East Rutherford, LLC ("LVP East Rutherford"), a newly formed majority-owned subsidiary, entered into a Restructuring Agreement (the "Restructuring Agreement") with a syndicate of unrelated third-party investors, including Moody National FFI Meadowlands Rollup LLC (collectively, the "Borrowers") and Moody National FFI Meadowlands MT, LLC (together with the Borrowers, the "Borrower Parties"). The Borrowers were the owners of the Fairfield Inn - East Rutherford, which operates as a Fairfield Inn under a franchise agreement with Marriott International Inc. ("Marriott") and is managed by an unrelated third party under a management agreement with an initial term that expires in August 2017.

	Previously, on June 29, 2010, the Company purchased a fixed-rate, nonrecourse mortgage note (the "Loan") with an original principal balance of $18.7 million for $7.9 million from an unrelated third-party financial institution. The Loan, which was secured by the Fairfield Inn - East Rutherford, had been in default since February 2009 and the carrying value of the Company's investment in the Loan was approximately $7.0 million as of December 30, 2012. Additionally, during the year ended December 31, 2011, the Company applied $0.1 million of excess cash received to outstanding principal. During the years ended December 31, 2012 and 2011 the Company recognized approximately $0.8 million and $1.0 of interest income, respectively.

	Under the terms of the Restructuring Agreement, the Borrowers contributed the Fairfield Inn - East Rutherford to LVP East Rutherford and the Borrower Parties and the Company received 17.4% and 82.6%, respectively, of the outstanding common units in LVP East Rutherford. Additionally, the Company issued a promissory note (the "Promissory Note") in the principal amount of $6.3 million to LVP East Rutherford which is secured by the Fairfield Inn - East Rutherford. The Promissory Note has an initial maturity date of January 6, 2021, bears interest at 9.00%, and requires monthly principal and interest payments pursuant to a 30-year amortization schedule through its stated maturity. LVP East Rutherford also has an option to further extend the maturity of the Promissory Note for two additional one-year periods. Upon consummation of the transactions provided for in the Restructuring Agreement, all existing obligations under the Loan were satisfied in full.

	On December 31, 2012, the transactions provided for in the Restructuring Agreement were consummated. Simultaneously, the Company purchased an additional 5.1% of the outstanding common units of LVP East Rutherford for $0.1 million from various Borrowers that chose not to participate in the Restructuring Agreement. As a result, the Company holds in the aggregate 87.7% of the outstanding common units of LVP East Rutherford.

	Under the terms of the operating agreement of LVP East Rutherford, the Company is the majority holder and manager of, and has the ability to make all major decisions regarding, LVP East Rutherford, unless they relate to certain agreements with affiliated parties or amendments to the operating agreement that may adversely affect a minority interest holder in a disproportionate manner to other members of the same class of stock. LVP East Rutherford has two authorized classes of stock consisting of preferred units, none of which have been issued at this time, and common units. Distributions will be first to the preferred units, if any, and then to the common units in proportion to their ownership interests.

	The Fairfield Inn - East Rutherford, which opened in 1997 and was renovated in 2007, has 141 rooms, including 39 king guestrooms, 89 double/double guestrooms, nine double rooms, and four suites. Located at 850 Paterson Plank Road in East Rutherford, NJ, the Fairfield Inn - East Rutherford is in immediate proximity to Teterboro Airport and Meadowlands Sports Complex, seven miles west of New York City and 15 miles from Newark International Airport.

	The Company has established a TRS, which has entered into an operating lease agreement for the Fairfield Inn - East Rutherford and a relicensing franchise agreement (the "Franchise Agreement") with Marriott for the Fairfield Inn - East Rutherford which runs through 2025.

	The aggregate cost for the Fairfield Inn - East Rutherford was approximately $7.4 million. The acquisition was accounted for under the purchase method of accounting with the Company treated as the acquiring entity. Accordingly, the consideration paid by the Company to complete the acquisition has been allocated to the assets acquired based upon their fair values as of the date of the acquisition. The fair value of the assets acquired of $11.7 million exceeded the aggregate cost of $7.4 million, resulting in the recognition of a bargain purchase gain of approximately $4.3 million in the consolidated statements of operations during the year ended December 31, 2012. There was no contingent consideration related to this acquisition.

	Approximately $2.5 million was allocated to land, $8.4 million was allocated to building and improvements and $0.8 million was allocated to furniture and fixtures.

	The capitalization rate for the Fairfield Inn - East Rutherford as of the closing of the acquisition was 8.0%. We calculate the capitalization rate for a real property by dividing net operating income of the property by the purchase price of the property, excluding costs. For purposes of this calculation, net operating income was determined using the projected or budgeted net operating income of the property based upon then-current projections. Additionally, net operating income is all gross revenues from the property less all operating expenses, including property taxes and management fees but excluding depreciation.

	TownePlace Suites - Metairie

	On January 19, 2011, the Company, through LVP Metairie JV, LLC ("LVP Metairie JV"), a joint venture, completed the acquisition of a 95% ownership interest in a four-story, limited service extended-stay hotel located in Harahan, Louisiana ("TownePlace Suites - Metairie") from Citrus Suites, LLC (the "Seller"). The remaining 5% ownership interest was acquired by TPS Metairie, LLC, an unrelated third party. During the three months ended March 31, 2011, TPS Metairie LLC contributed $0.7 million to LVP Metairie JV. The TownePlace Suites - Metairie, which has immediate access to the New Orleans Airport, will operate as a "TownePlace Suites" pursuant to a Relicensing Franchise Agreement ("Franchise Agreement") with Marriott International, Inc. ("Marriott"). The Seller was not affiliated with the Company or its subsidiaries.

	The aggregate purchase price for the TownePlace Suites - Metairie was approximately $12.2 million, inclusive of closing and other transaction-related costs. Additionally, in connection with the acquisition, the Company's advisor received an acquisition fee of $0.1 million which was equal to 0.95% of the Company's proportionate share of the total contract price of $12.0 million, or $11.4 million. The acquisition was funded with cash proceeds from the sale of the Company's common stock.

	We established a TRS which has entered into an operating lease agreement for the TownePlace Suites - Metairie. The TRS has also entered into a management agreement (the "TownePlace Suites Management Agreement") with an unrelated third party for the management of the TownePlace Suites - Metairie, and the Franchise Agreement with Marriott.

	The capitalization rate for the acquisition of the TownePlace Suites during 2011 was 10.7%. The Company calculates the capitalization rate for real property by dividing the net operating income of the property by the purchase price of the property, excluding costs. For purposes of this calculation, net operating income was determined using the projected or budgeted net operating income of the property based upon then-current projections. Additionally, net operating income is all gross revenues from the property less all operating expenses, including property taxes and management fees but excluding depreciation and amortization.

	The Company's interest in LVP Metairie JV is a managing interest. Generally, quarterly distributions have been made, beginning on May 10, 2011, (i) initially, to the Company and TPS Metairie, LLC on a pro rata basis in proportion to each member's equity interest percentage until an annualized preferred return of 12% is achieved on their invested capital and (ii) thereafter, 85% to the Company and TPS Metairie, LLC pro rata in accordance with their respective ownership interest and 15% to the Sherman Family Trust, a third party related to TPS Metairie, LLC but not related to the Company. Beginning on January 19, 2011, the Company has consolidated the operating results and financial condition of TownePlace Suites and accounted for the ownership interest of TPS Metairie, LLC and any allocations of earnings and distributions to the Sherman Family Trust as noncontrolling interests.

During the year ended December 31, 2013, LVP Metairie JV made total distributions of approximately $3,319 ($3,144 and $306 to the Company and TPS Metairie, LLC, respectively). The 2013 distributions consisted of approximately $600 ($561 and $39 to the Company and TPS Metairie LLC, respectively) of annualized preferred returns and approximately $2,719 ($2,583 and $136 to the Company and LVP Metairie LLC, respectively) of return of invested capital. During the year ended December 31, 2012, LVP Metairie JV made total distributions of approximately $6,120 ($5,814 and $306 to the Company and TPS Metairie, LLC, respectively). The 2012 distributions consisted of approximately $1,575 ($1,497 and $78 to the Company and TPS Metairie LLC, respectively) of annualized preferred returns and approximately $4,545 ($4,317 and $228 to the Company and LVP Metairie LLC, respectively) of return of invested capital. The 2012 distributions include the net proceeds from a $6.0 million mortgage loan obtained on March 14, 2012 (see Note 6). During the year ended December 31, 2011, LVP Metairie JV made total distributions of approximately $784 ($745 and $39 to the Company and TPS Metairie, LLC, respectively), all of which related to the annualized preferred return.

The acquisition was accounted for under the purchase method of accounting with the Company treated as the acquiring entity. Accordingly, the consideration paid by the Company to complete the acquisition has been allocated to the assets acquired based upon their fair values as of the date of the acquisition. There was no contingent consideration related to this acquisition.

Approximately $1.8 million was allocated to land, $9.7 million was allocated to building and improvements and $0.5 million was allocated to furniture and fixtures.

Financial Information

The following table provides the total amount of rental revenue and net income included in the Company's consolidated statements of operations from the TownePlace Suites - Metairie, the SpringHill Suites - Peabody, the Fairfield Inn - East Rutherford and the Arkansas Hotel Portfolio since their respective dates of acquisition for the periods indicated:

		For the Years Ended December 31,
		2013		2012		2011
Rental revenue		$	13,058	$	5,942	$	2,978
Net income⁽¹⁾⁽²⁾		$	1,084	$	8,005	$	536

Note:
	-1	Includes the $7.9 million bargain purchase gain recorded in the year ended December 31, 2012 in connection with the acquisitions of the SpringHill Suites - Peabody and the Fairfield Inn - East Rutherford.
	-2	Includes the approximately $1.3 million bargain purchase gain recorded in the year ended December 31, 2013 in connection with the acquisition of the Arkansas Hotel Portfolio.

The following table provides unaudited pro forma results of operations for the periods indicated, as if the TownePlace Suites - Metairie, the SpringHill Suites - Peabody, the Fairfield Inn - East Rutherford and the Arkansas Hotel Portfolio had been acquired at the beginning of the earliest period presented. Such pro forma results are not necessarily indicative of the results that actually would have occurred had these acquisitions been completed on the dates indicated, nor are they indicative of the future operating results of the combined company.

		For the Years Ended December 31,
		2013		2012		2011
Pro forma rental revenue		$	14,699	$	15,254	$	13,957
Pro forma net income/(loss) per Company's common share ⁽³⁾⁽⁴⁾		$	295	$	115	$	(1,123	)
Pro forma net income/(loss) per Company's common share, basic and diluted⁽³⁾⁽⁴⁾		$	0.05	$	0.05	$	(0.28	)

Note:
	-3	Excludes $7.9 million bargain purchase gain recorded in the year ended December 31, 2012 in connection with the acquisitions of the SpringHill Suites - Peabody and the Fairfield Inn - East Rutherford.
	-4	Excludes the approximately $1.3 million bargain purchase gain recorded in the year ended December 31, 2013 in connection with the acquisition of the Arkansas Hotel Portfolio.

Investments_in_Unconsolidated_

Investments in Unconsolidated Affiliated Entities	12 Months Ended
Investments in Unconsolidated Affiliated Entities	Dec. 31, 2013
Investments in Unconsolidated Affiliated Entities [Abstract]	'
Investments in Unconsolidated Affiliated Entities	'
		4	Investments in Unconsolidated Affiliated Entities

	The entities listed below are or were partially owned by the Company. The Company accounts or accounted for these investments under the equity method of accounting as the Company exercises or exercised significant influence, but does not or did not exercise financial and operating control, and is not or was not considered to be the primary beneficiary of these entities. A summary of the Company's investments in unconsolidated affiliated entities is as follows:

									As of
	Entity		Date of Ownership		Ownership %				31-Dec-13				31-Dec-12
	Brownmill LLC ("Brownmill")		Various			48.58	%		$	3,834			$	4,076
	LVP Rego Park, LLC ("Rego Park Joint Venture")		12-Apr-11			10	%			-				1,874
	Total investments in unconsolidated affiliated entities								$	3,834			$	5,950

	Brownmill

	During 2010, 2011 and 2012, the Company entered into five separate contribution agreements with Lightstone Holdings LLC (''LGH''), a wholly-owned subsidiary of the Company's Sponsor, pursuant to which LGH contributed to the Company an approximate aggregate 48.6% equity interest (34.4%, 5.6% and 8.6% in 2010, 2011 and 2012, respectively) in Brownmill in order to fulfill the Sponsor's semi-annual commitment to purchase Subordinated Profits Interests with cash or contributed property. In exchange, the Company issued an aggregate of 48 units (33, 6 and 9 in 2010, 2011 and 2012, respectively) of Subordinated Profits Interests, at $100,000 per unit (at an aggregate total value of $4.8 million, of which $3.3 million, $0.6 million and $0.9 million were in 2010, 2011 and 2012, respectively), to Lightstone SLP II LLC.

	The aggregate fair value of the Company's 48.6% interest in Brownmill, based on estimated fair values as of the effective dates of the applicable contributions, was approximately $15.5 million, of which $4.8 million was in the form of equity and $10.7 million was in the form of mortgage indebtedness.

	As a result of these contributions in exchange for Subordinated Profit Interests, as of December 31, 2013, the Company owns a 48.6% membership interest in Brownmill. The Company's interest in Brownmill is a non-managing interest. An affiliate of the Company's Sponsor is the majority owner and manager of Brownmill. Profit and cash distributions are allocated in accordance with each investor's ownership percentage. The Company recorded its investment in Brownmill in accordance with the equity method of accounting. Accordingly, its portion of Brownmill's total indebtedness is not included in the investment. In connection with the contributions of the ownership interests in Brownmill, the Company did not incur any transactions fees. During the years ended December 31, 2013 and 2012, Brownmill made distributions of $150 and $300, respectively, to its members, of which the Company's share was $73 and $135, respectively. Brownmill did not make distributions during the years ended December 31, 2011.

	Brownmill owns two retail properties known as Browntown Shopping Center, located in Old Bridge, New Jersey, and Millburn Mall, located in Vauxhaull, New Jersey, which collectively, are referred to as the "Brownmill Properties."

	Brownmill Condensed Financial Information

	The Company's carrying value of its interest in Brownmill differs from its share of member's equity reported in the condensed balance sheet of Brownmill due to the Company's basis of its investment in excess of the historical net book value of Brownmill. The Company's additional basis allocated to depreciable assets is being recognized on a straight-line basis over the lives of the appropriate assets.

	The following table represents the unaudited condensed income statement for Brownmill for the period indicated:

			For the Year				For the Year				For the Year
			Ended December				Ended December				Ended December
			31, 2013				31, 2012				31, 2011
	Revenue		$	3,551			$	3,682			$	3,821

	Property operating expenses			1,377				1,361				1,723
	Depreciation and amortization			840				862				824

	Operating income			1,334				1,459				1,274

	Interest expense and other, net			(1,151	)			(1,179	)			(1,178	)

	Net income		$	183			$	280			$	96

	Company's share of net income		$	89			$	122			$	23

	Additional depreciation and amortization expense ⁽¹⁾			(259	)			(283	)			(243	)

	Company's loss from investment		$	(170	)		$	(161	)		$	(220	)

		1	Additional depreciation and amortization expense relates to the amortization of the difference between the cost of the interest in Brownmill and the amount of the underlying equity in net assets of Brownmill.

	The following table represents the unaudited condensed balance sheet for Brownmill:

			As of				As of
			31-Dec-13				31-Dec-12

	Real estate, at cost (net)		$	16,039			$	16,760
	Cash and restricted cash			1,530				947
	Other assets			1,363				1,602
	Total assets		$	18,932			$	19,309

	Mortgage payable		$	20,700			$	21,159
	Other liabilities			588				540
	Members' deficiency			(2,356	)			(2,390	)
	Total liabilities and members' deficiency		$	18,932			$	19,309

CP Boston Joint Venture

On March 21, 2011, the Company and its Sponsor's other public program, Lightstone Value Plus Real Estate Investment Trust, Inc. ("Lightstone REIT I"), acquired, through LVP CP Boston Holdings, LLC (the "CP Boston Joint Venture) a 366-room, eight-story, full-service hotel and a 65,000 square foot water park located at 50 Ferncroft Road, Danvers, Massachusetts from WPH Boston, LLC, an unrelated third party, for an aggregate purchase price of approximately $10.1 million, excluding closing and other related transaction costs. The Company and Lightstone REIT I had 20.0% and 80.0% joint venture ownership interests, respectively, in the CP Boston Joint Venture and the Company's share of the aggregate purchase price was approximately $2.0 million. Additionally, in connection with the acquisition, the Company's Advisor received an acquisition fee equal to 0.95% of the acquisition price, or approximately $19.

On February 20, 2012, the Company completed the disposition of its 20.0% joint venture ownership interest in the CP Boston Joint Venture with an effective date of January, 1, 2012, to subsidiaries of Lightstone REIT I, which now owns 100.0% of the CP Boston Joint Venture. Under the terms of the agreement, the Company received approximately $3.0 million in total consideration, consisting of approximately $0.6 million of cash and a $2.4 million unsecured 10.0% interest-bearing demand note (the "Lightstone REIT I Note") from the operating partnership of Lightstone REIT I. The Company received a principal paydown of $60 during the year ended December 31, 2012 and the remaining outstanding balance of the Lightstone REIT I Note of $2,340 was repaid in full in June 2013. During the years ended December 31, 2013 and 2012, the Company recognized $105 and $240 of interest income on the Lightstone REIT I Note, respectively.

In connection with the disposition of its 20.0% joint venture ownership interest in the CP Boston Joint Venture, the Company recognized a gain on disposition of investment in unconsolidated affiliated entity of $0.7 million in its consolidated statements of operations during the first quarter of 2012.

The Company's 20.0% joint venture ownership interest in the CP Boston Joint Venture was a non-managing interest, which it accounted for in accordance with the equity method of accounting from the date of acquisition through the date of disposition.

CP Boston Joint Venture Financial Information

The following table represents the unaudited condensed income statement for the CP Boston Joint Venture for the period indicated:

		For the Period March
		21, 2011 through
		31-Dec-11
Revenue		$	10,919

Property operating expenses			10,684
Franchise cancellation expense			1,235
Depreciation and amortization			288
Operating loss			(1,288	)
Other income			17

Net loss		$	(1,271	)

Company's share of net loss		$	(254	)

Rego Park Joint Venture

On April 12, 2011, LVP Rego Park, LLC, ("the Rego Park Joint Venture") a joint venture in which the Company and Lightstone REIT I have 10% and 90%, ownership interests, respectively, acquired a $19.5 million, nonrecourse second mortgage note (the "Second Mortgage Loan") for approximately $15.1 million from Kelmar Company, LLC (the "Seller"), an unaffiliated third party. The purchase price reflects a discount of approximately $4.4 million to the outstanding principal balance. The Company's share of the aggregate purchase price was approximately $1.5 million. The Company accounts for its investment in the Rego Park Joint Venture in accordance with the equity method of accounting.

The Second Mortgage Loan was originated by the Seller in May 2008 with an original principal balance of $19.5 million, was due May 31, 2013 and was collateralized by a 417 unit apartment complex located in Queens, New York. The Second Mortgage Loan bore interest at a fixed rate of 5.0% per annum with monthly interest only payments of approximately $0.1 million through maturity. The Rego Park Joint Venture accreted the discount using the effective interest rate method through maturity. On June 27, 2013 all amounts due to the Rego Park Joint Venture related to the Second Mortgage Loan were repaid in full.

During the year ended December 31, 2013, the Rego Park Joint Venture made aggregate distributions of approximately $21.0 million to its members, of which the Company's share was approximately $2.1 million. These distributions included the final distribution of the Rego Park Joint Venture assets and as of December 31, 2013 the Company no longer had any investment in the Rego Park Joint Venture.

Rego Park Joint Venture Financial Information

The following table represents the unaudited condensed income statement for the Rego Park Joint Venture for the period indicated:

		For the Year				For the Year				For the Period
		ended				ended				April 12, 2011
		December				December 31,				through
		31, 2013				2012				December 31,
										2011

Operating expenses		$	3			$	5			$	202
Operating loss			(3	)			(5	)			(202	)
Interest income			1,725				3,203				2,068
Net income		$	1,722			$	3,198			$	1,866
Company's share of net income before adjustment		$	172			$	320			$	187
Basis adjustment on mortgage loan			(16	)			-				-
Company's share of net income		$	156			$	320			$	187

The following table represents the unaudited condensed balance sheet for Rego Park Joint Venture:

		As of
		31-Dec-12

Cash and restricted cash		$	91
Mortgage note receivable, net			18,443
Other assets			45
Total assets		$	18,579

Members' capital		$	18,579
Total liabilities and members' capital		$	18,579

Marketable_Securities_and_Fair

Marketable Securities and Fair Value Measurements

12 Months Ended

Dec. 31, 2013

Marketable Securities and Fair Value Measurements [Abstract]

Marketable Securities and Fair Value Measurements

Marketable Securities:

The following is a summary of the Company's available for sale securities as of the dates indicated:

As of December 31, 2013

Adjusted Cost

Gross Unrealized Gains

Gross Unrealized

Fair Value

Losses

Equity Securities

7,735

399

8,134

As of December 31, 2012

Adjusted Cost

Gross Unrealized Gains

Gross Unrealized

Fair Value

Losses

Equity Securities

7,915

229

8,144

The Company has access to a margin loan from a financial institution that holds custody of certain of the Company's marketable securities. The margin loan is collateralized by the marketable securities in the Company's account. The amounts available to the Company under the margin loan are at the discretion of the financial institution and not limited to the amount of collateral in its account. The margin loan bears interest at libor plus 0.85% (1.02% at December 31, 2013) and interest expense on the margin loan was $24 and $34 for the years ended December 31, 2013 and 2012, respectively.

When evaluating the investments for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer and any changes thereto, and the Company's intent to sell, or whether it is more likely than not it will be required to sell, the investment before recovery of the investment's amortized cost basis. As of December 31, 2013 and 2012, the Company did not recognize any impairment charges.

Fair Value Measurements

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs.

The standard describes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value:

•

Level 1 - Quoted prices in active markets for identical assets or liabilities.

•

Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

•

Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

As of December 31, 2013 all of the Company's equity securities were classified as Level 1 assets and there were no transfers between the level classifications. The Company did not have any other significant financial assets or liabilities, which would require revised valuations that are recognized at fair value.

Mortgages_Payable

Mortgages Payable	12 Months Ended
Mortgages Payable	Dec. 31, 2013
Mortgages Payable [Abstract]	'
Mortgages Payable	'
		6	Mortgages Payable

	Mortgages payable consisted of the following:

												Loan Amount Outstanding
	Description		Interest Rate		Weighted				Maturity	Amount Due		As of		As of
					Average				Date	at Maturity		December 31,		December 31,
					Interest Rate							2013		2012
					as of December
					31, 2013

	TownePlace Suites Mortgage, secured by TownePlace Suites - Metairie		Libor plus 3.75%, subject to 6.00% floor									$	-	$	5,923

	SpringHill Suites Hotel Mortgage, secured by SpringHill Suites - Peabody		Libor plus 3.75%, subject to 5.75% floor										-		5,234

	Promissory Note, secured by four properties		4.94%			4.94	%		Aug-18	$	21,754		24,260		-
						4.94	%					$	24,260	$	11,157

	Promissory Note

	On July 29, 2013, the Company, through certain subsidiaries, entered into a promissory note (the "Promissory Note") with Barclays Bank PLC ("Barclays") for approximately $24.4 million. The Promissory Note has a term of five years with a maturity date of August 6, 2018, bears interest at 4.94%, and requires monthly principal and interest payments of approximately $142 through its stated maturity.

	The Promissory Note is cross-collateralized by four hotel properties consisting of the SpringHill Suites - Peabody, the TownePlace Suites - Metairie and the Arkansas Hotel Portfolio.

	Approximately $11.1 million of the financing proceeds were used to repay the outstanding balances on two mortgages secured by the TownePlace Suites - Metairie and the SpringHill Suites - Peabody and $4.0 million was used to repay the remaining outstanding balance of the Demand Note due to Lightstone REIT I. Additionally, approximately $1.0 million was held in escrow and is reserved for property improvements, repairs and real estate taxes and the Company paid approximately $400 in fees.

	Principal Maturities

	The following table, based on the initial terms of the mortgages, sets forth their aggregate estimated contractual principal maturities, including balloon payments due at maturity, as of December 31, 2013:

			2014				2015			2016		2017		2018		Thereafter		Total
	Principal maturities		$	499			$	524		$	548	$	580	$	22,109	$	-	$	24,260

	Debt Compliance

	Pursuant to the Company's debt agreements, approximately $1.3 million was held in restricted escrow accounts as of December 31, 2013. Such escrows are subject to release in accordance with the applicable debt agreement for the payment of real estate taxes, insurance and capital improvements, as required. Certain of our debt agreements also contain clauses providing for prepayment penalties and require the maintenance of certain ratios, including debt service coverage. The Company is currently in compliance with respect to all of its debt covenants.

Selling_Commission_Dealer_Mana

Selling Commission, Dealer Manager Fees and Other Offering Costs	12 Months Ended
	Dec. 31, 2013
Selling Commission Dealer Manager Fees And Other Offering Costs [Abstract]	'
Selling Commission, Dealer Manager Fees and Other Offering Costs	'
	7. Selling Commission, Dealer Manager Fees and Other Offering Costs

	Selling commissions and dealer manager fees are paid to the Dealer Manager, pursuant to various agreements, and other third-party offering expenses such as registration fees, due diligence fees, marketing costs, and professional fees are accounted for as a reduction against additional paid-in capital ("APIC") as costs are incurred. Any organizational costs are accounted for as general and administrative costs. The following table represents the selling commissions and dealer manager and other offering costs for the periods indicated:

		For the Years Ended December 31,
		2013		2012		2011

	Selling commissions and dealer manager fees	$	2,023	$	715	$	943
	Other offering costs	$	1,937	$	1,495	$	1,611

	Since commencement of its Offering through December 31, 2013, the Company has incurred approximately $7.3 million in selling commissions and dealer manager fees and $7.9 million of other offering costs.

Subscription_Receivable

Subscription Receivable	12 Months Ended
Subscription Receivable	Dec. 31, 2013
Subscription Receivable [Abstract]	'
Subscription Receivable	'
	8. *Subscription Receivable*

	The subscription receivable relates to shares issued to the Company's shareholders for which the proceeds have not yet been received by the Company solely due to a fact of timing of transfers from the escrow agent holding the funds.

Financial_Instruments

Financial Instruments	12 Months Ended
Financial Instruments	Dec. 31, 2013
Financial Instruments [Abstract]	'
Financial Instruments	'
	9. *Financial Instruments*

	The carrying amounts of cash and cash equivalents, restricted escrows, accounts receivable (included in other assets in the consolidated balance sheet), note receivable from affiliate, accounts payable and accrued expenses and the margin loan approximate their fair values as of December 31, 2013 because of the short maturity of these instruments.

Stockholders_Equity

Stockholder's Equity	12 Months Ended
Stockholder's Equity	Dec. 31, 2013
Stockholder's Equity [Abstract]	'
Stockholder's Equity	'
	10. Stockholder's Equity

	Preferred Shares

	Shares of preferred stock may be issued in the future in one or more series as authorized by the Company's Board of Directors. Prior to the issuance of shares of any series, the Board of Directors is required by the Company's charter to fix the number of shares to be included in each series and the terms, preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends or other distributions, qualifications and terms or conditions of redemption for each series. Because the Company's Board of Directors has the power to establish the preferences, powers and rights of each series of preferred stock, it may provide the holders of any series of preferred stock with preferences, powers and rights, voting or otherwise, senior to the rights of holders of our common stock. The issuance of preferred stock could have the effect of delaying, deferring or preventing a change in control of the Company, including an extraordinary transaction (such as a merger, tender offer or sale of all or substantially all of our assets) that might provide a premium price for holders of the Company's common stock. To date, the Company had no outstanding preferred shares.

	Common Shares

	All of the common stock being offered by the Company will be duly authorized, fully paid and nonassessable. Subject to the preferential rights of any other class or series of stock and to the provisions of its charter regarding the restriction on the ownership and transfer of shares of our stock, holders of the Company's common stock will be entitled to receive distributions if authorized by the Board of Directors and to share ratably in the Company's assets available for distribution to the stockholders in the event of a liquidation, dissolution or winding-up.

	Each outstanding share of the Company's common stock entitles the holder to one vote on all matters submitted to a vote of stockholders, including the election of directors. There is no cumulative voting in the election of directors, which means that the holders of a majority of the outstanding common stock can elect all of the directors then standing for election, and the holders of the remaining common stock will not be able to elect any directors.

	Holders of the Company's common stock have no conversion, sinking fund, redemption or exchange rights, and have no preemptive rights to subscribe for any of its securities. Maryland law provides that a stockholder has appraisal rights in connection with some transactions. However, the Company's charter provides that the holders of its stock do not have appraisal rights unless a majority of the Board of Directors determines that such rights shall apply. Shares of the Company's common stock have equal dividend, distribution, liquidation and other rights.

	Under its charter, the Company cannot make any material changes to its business form or operations without the approval of stockholders holding at least a majority of the shares of our stock entitled to vote on the matter. These include (1) amendment of its charter, (2) its liquidation or dissolution, (3) its reorganization, and (4) its merger, consolidation or the sale or other disposition of its assets. Share exchanges in which the Company is the acquirer, however, do not require stockholder approval.

	Distributions

	U.S. federal income tax law requires that a REIT distribute annually at least 90% of its REIT taxable income (which does not equal net income, as calculated in accordance with GAAP) determined without regard to the deduction for dividends paid and excluding any net capital gain. In order to continue to qualify for REIT status, we may be required to make distributions in excess of cash available.

	Distributions will be at the discretion of our Board of Directors. We commenced quarterly distributions beginning with the fourth quarter of 2009 and we have generally used cash proceeds from the sale of shares of our common stock to fund such distributions. We may continue to pay such distributions from the sale of shares of our common stock or borrowings if we do not generated sufficient cash flow from our operations to fund distributions. Our ability to pay regular distributions and the size of these distributions will depend upon a variety of factors. For example, our borrowing policy permits us to incur short-term indebtedness, having a maturity of two years or less, and we may have to borrow funds on a short-term basis to meet the distribution requirements that are necessary to achieve the tax benefits associated with qualifying as a REIT. We cannot assure that regular distributions will continue to be made or that we will maintain any particular level of distributions that we have established or may establish.

	We are an accrual basis taxpayer, and as such our REIT taxable income could be higher than the cash available to us. We may therefore borrow to make distributions, which could reduce the cash available to us, in order to distribute 90% of our REIT taxable income as a condition to our election to be taxed as a REIT. These distributions made with borrowed funds may constitute a return of capital to stockholders. "Return of capital" refers to distributions to investors in excess of net income. To the extent that distributions to stockholders exceed earnings and profits, such amounts constitute a return of capital for U.S. federal income tax purposes, although such distributions might not reduce stockholders' aggregate invested capital. Because our earnings and profits are reduced for depreciation and other non-cash items, it is likely that a portion of each distribution will constitute a tax-deferred return of capital for U.S. federal income tax purposes.

	On March 30, 2009, our Board of Directors declared the Annualized Distribution Rate for each quarterly period commencing 30 days subsequent to achieving the minimum offering of 500,000 shares of common stock. The distribution is calculated based on stockholders of record each day during the applicable period at a rate of $0.00178082191 per share per day, and equals a daily amount that, if paid each day for a 365-day period, would equal a 6.5% annualized rate based on the share price of $10.00.

	At the beginning of October 2009, we achieved our minimum offering of 500,000 shares of common stock and on November 3, 2009, our Board of Directors declared our first quarterly distribution at an annualized distribution rate (the "Annualized Distribution Rate") for the three-month period ending December 31, 2009. Subsequently, our Board of Directors has declared regular quarterly distributions at the Annualized Distribution Rate

	Total distributions declared during the years ended December 31, 2013, 2012 and 2011 were $4.1 million, $3.3 million and $2.6 million, respectively.

	On March 28, 2014, the our Board of Directors declared the quarterly distribution for the three-month period ended March 31, 2014 in the amount of $0.00178082191 per share per day payable to stockholders of record on the close of business each day during the quarter, which will be paid on April 15, 2014.

	Our stockholders have the option to elect the receipt of shares of common stock in lieu of cash under our DRIP.

	The amount of distributions to be paid to our stockholders in the future will be determined by our Board of Directors and are dependent on a number of factors, including funds available for payment of distributions, our financial condition, capital expenditure requirements and annual distribution requirements needed to maintain our status as a REIT under the Code.

	Equity Compensation Plans

	The Company's Employee and Director Incentive Restricted Share Plan provides for grants of awards to its directors, officers and full-time employees (in the event the Company ever has employees), full-time employees of its advisor and its affiliates, full-time employees of entities that provide services to it, directors of its advisor or of entities that provide services to it, certain of its consultants and certain consultants to the advisor and its affiliates or to entities that provide services to it. Such awards shall consist of restricted shares.

	Restricted share awards entitle the recipient to common shares from us under terms that provide for vesting over a specified period of time or upon attainment of pre-established performance objectives. Such awards would typically be forfeited with respect to the unvested shares upon the termination of the recipient's employment or other relationship with the Company. Restricted shares may not, in general, be sold or otherwise transferred until restrictions are removed and the shares have vested. Holders of restricted shares may receive cash dividends prior to the time that the restrictions on the restricted shares have lapsed. Any dividends payable in common shares shall be subject to the same restrictions as the underlying restricted shares.

	On March 30, 2012, our Board of Directors approved the termination of our stock option plan. The stock option plan was terminated by our Board of Directors as a result of a request from a state securities regulator. Prior to its termination, we had adopted a stock option plan under which our independent directors were eligible to receive annual nondiscretionary awards of nonqualified stock options. We had authorized and reserved 75,000 shares of our common stock for issuance under our stock option plan, which shares are no longer reserved for such purpose.

Noncontrolling_Interests

Noncontrolling Interests	12 Months Ended
Noncontrolling Interests	Dec. 31, 2013
Noncontrolling Interests [Abstract]	'
Noncontrolling Interests	'
	11. Noncontrolling Interests

	The noncontrolling interests consist of (i) parties of the Company that hold units in the Operating Partnership and (ii) certain interests in LVP Metairie JV, LVP East Rutherford, LVP TPS Little Rock Holdings LLC and LVP TPS Fayetteville Holdings LLC which are not owned by the Company. The units include Subordinated Profits Interests, limited partner units, and Common Units. With respect to the units in the Operating Partnership, the noncontrolling interest in the Company's consolidated balance sheets as of December 31, 2013 and 2012 include (i) the 2,000 limited partner units held by the Advisor and (ii) 64 and 50 Subordinated Profits Interests units held by Lightstone SLP II LLC as of December 31, 2013 and 2012, respectively.

	Share Description

	See Notes 1 and 3 for discussion of rights related to LVP Metairie JV, LVP East Rutherford, LVP TPS Little Rock Holdings LLC, LVP TPS Fayetteville Holdings LLC and Subordinated Profits Interests, respectively. The limited partner and Common Units of the Operating Partnership have similar rights as those of the Company's stockholders including distribution rights.

	Distributions

	During the year ended December 31, 2013, 2012 and 2011, the Company paid distributions to noncontrolling interests in LVP Metairie JV of $175, $306 and $39, respectively.

Related_Party_Transactions

Related Party Transactions

12 Months Ended

Dec. 31, 2013

Related Party Transactions [Abstract]

Related Party Transactions

12. Related Party Transactions

The Company has agreements with the Dealer Manager, Advisor and Property Managers to pay certain fees, as follows, in exchange for services performed by these entities and other affiliated entities. The Company's ability to secure financing and subsequent real estate operations are dependent upon its Advisor, Property Managers and their affiliates to perform such services as provided in these agreements.

Fees

Amount

Selling Commission

The Dealer Manager will be paid up to 7% of the gross offering proceeds before reallowance of commissions earned by participating broker-dealers. Selling commissions are expected to be approximately $21.0 million if the maximum offering of 30.0 million shares of common stock are sold under our Follow-On Offering. From our inception through December 31, 2013, approximately $4.9 million of selling commissions have been incurred.

Dealer Management Fee

The Dealer Manager will be paid up to 3% of gross offering proceeds before reallowance to participating broker-dealers. The estimated dealer management fee is expected to be approximately $9.0 million if the maximum offering of 30.0 million shares of common stock are sold under our Follow-On Offering. From our inception through December 31, 2013, approximately $2.4 million of dealer management fees have been incurred.

Reimbursement of Offering Expenses

Reimbursement of all selling commissions and dealer management fees indicated above, are estimated at approximately $30.0 million if the maximum offering of 30.0 million shares of common stock are sold under our Follow-On Offering. The Company will sell Subordinated Profits Interests to Lightstone SLP II LLC for either cash or interests in real property of equivalent value, at the Sponsor's option. The proceeds received from the cash sale of Subordinated Profits Interests, if any, will be used to pay the dealer manager fees and selling commissions, except to the extent that the proceeds from the sale of the Subordinated Profits Interests exceed the dealer manager fees and selling commissions, the Company will apply the remaining proceeds to pay for organizational and offering expenses.

Acquisition Fee

The Advisor will be paid an acquisition fee equal to 0.95% of the gross contractual purchase price (including any mortgage assumed) of each property purchased. The Advisor will also be reimbursed for expenses that it incurs in connection with the purchase of a property. The Company anticipates that acquisition expenses will be 0.45% of a property's purchase price, and acquisition fees and expenses are capped at 5% of the gross contract purchase price of the property. The actual amounts of these fees and reimbursements depend upon results of operations and, therefore, cannot be determined at the present time. However, $11.3 million may be paid as an acquisition fee and for the reimbursement of acquisition expenses if the maximum offering of 30.0 million shares of common stock are sold under our Follow-On Offering, assuming aggregate long-term permanent leverage of approximately 75%.

Property Management - Residential/Retail/

The Property Manager will be paid a monthly management fee of up to 5% of the gross revenues from residential, hospitality and retail properties. The Company may pay the Property Managers a separate fee for the one-time initial rent-up or leasing-up of newly constructed properties in an amount not to exceed the fee customarily charged in arm's length transactions by others rendering similar services in the same geographic area for similar properties as determined by a survey of brokers and agents in such area.

Hospitality

Property Management -

The Property Manager s will be paid monthly property management and leasing fees of up to 4.5% of gross revenues from office and industrial properties. In addition, the Company may pay the Property Managers a separate fee for the one-time initial rent-up or leasing-up of newly constructed properties in an amount not to exceed the fee customarily charged in arm's length transactions by others rendering similar services in the same geographic area for similar properties as determined by a survey of brokers and agents in such area.

Office/Industrial

Asset Management Fee

The Advisor or its affiliates will be paid an asset management fee of 0.95% of the Company's average invested assets, as defined, payable quarterly in an amount equal to 0.2375 of 1% of average invested assets as of the last day of the immediately preceding quarter.

Reimbursement of Other expenses

For any year in which the Company qualifies as a REIT, the Advisor must reimburse the Company for the amounts, if any, by which the total operating expenses, the sum of the advisor asset management fee plus other operating expenses paid during the previous fiscal year exceed the greater of 2% of average invested assets, as defined, for that fiscal year, or, 25% of net income for that fiscal year. Items such as property operating expenses, depreciation and amortization expenses, interest payments, taxes, non-cash expenditures, the special liquidation distribution, the special termination distribution, organization and offering expenses, and acquisition fees and expenses are excluded from the definition of total operating expenses, which otherwise includes the aggregate expense of any kind paid or incurred by the Company.

The Advisor or its affiliates will be reimbursed for expenses that may include costs of goods and services, administrative services and non-supervisory services performed directly for the Company by independent parties.

Lightstone SLP II, LLC has and will purchase Subordinated Profits Interests in the Operating Partnership. These Subordinated Profits Interests, the purchase price of which will be repaid only after stockholders receive a stated preferred return and their net investment, may entitle Lightstone SLP II, LLC to a portion of any regular distributions made by the Operating Partnership. There have been no distributions to date. Any future distributions will be paid at a 7% annualized rate of return to Lightstone SLP II, LLC and will always be subordinated until stockholders receive a stated preferred return, as described below.

The Subordinated Profits Interests may also entitle Lightstone SLP II, LLC to a portion of any liquidating distributions made by the Operating Partnership. The value of such distributions will depend upon the net sale proceeds upon the liquidation of the Company and, therefore, cannot be determined at the present time. Liquidating distributions to Lightstone SLP II, LLC will always be subordinated until stockholders receive a distribution equal to their initial investment plus a stated preferred return, as described below:

Liquidating Stage Distributions

Amount of Distribution

7% Stockholder Return Threshold

Once stockholders have received liquidation distributions, and a cumulative non-compounded 7% return per year on their initial net investment, Lightstone SLP, LLC will receive available distributions until it has received an amount equal to its initial purchase price of the Subordinated Profits Interests plus a cumulative non-compounded return of 7% per year.

Returns in Excess of 7%

Once stockholders have received liquidation distributions, and a cumulative non-compounded return of 7% per year on their initial net investment, 70% of the aggregate amount of any additional distributions from the Operating Partnership will be payable to the stockholders, and 30% of such amount will be payable to Lightstone SLP II, LLC, until a 12% return is reached.

Returns in Excess of 12%

After stockholders and Lightstone SLP II, LLC have received liquidation distributions, and a cumulative non-compounded return of 12% per year on their initial net investment, 60% of any remaining distributions from the Operating Partnership will be distributable to stockholders, and 40% of such amount will be payable to Lightstone SLP II, LLC.

Operating Stage Distributions

Amount of Distribution

7% stockholder Return Threshold

Once a cumulative non-compounded return of 7% return on their net investment is realized by stockholders, Lightstone SLP II, LLC is eligible to receive available distributions from the Operating Partnership until it has received an amount equal to a cumulative non-compounded return of 7% per year on the purchase price of the Subordinated Profits Interests. "Net investment" refers to $10 per share, less a pro rata share of any proceeds received from the sale or refinancing of the Company's assets.

Returns in excess of 7%

Once a cumulative non-compounded return of 7% per year is realized by stockholders on their net investment, 70% of the aggregate amount of any additional distributions from the Operating Partnership will be payable to the stockholders, and 30% of such amount will be payable to Lightstone SLP II, LLC until a 12% return is reached.

Returns in Excess of 12%

After the 12% return threshold is realized by stockholders and Lightstone SLP II, LLC, 60% of any remaining distributions from the Operating Partnership will be distributable to stockholders, and 40% of such amount will be payable to Lightstone SLP II, LLC.

In addition to certain related party payments made to the Dealer Manager (see Note 7), the Company also has agreements with the Advisor and the Property Managers and their affiliates to perform such services as provided in these agreements.

The following table represents the fees incurred associated with the payments to the Company's Advisor and Property Manager for the periods:

For the Years Ended December 31,

2013

2012

2011

Acquisition fees

102

141

Asset management fees

114

346

268

Development fees

Total

294

431

409

Pursuant to an Advisory Agreement, our Advisor is entitled to receive an asset management fee equal to 0.95% of our average invested assets, as defined. The asset management fee is payable quarterly and based on balances as of the end of each month in the quarterly period. Commencing with the quarter ended June 30, 2013, the Advisor has elected to waive or reduce its quarterly asset management fee to the extent our non-GAAP measure modified funds from operations available, or MFFO, as defined by the Investment Program Association, or IPA, for the preceding twelve months period ending on the last day of the current quarter is less than the distributions declared with respect to the same twelve month period. As a result, asset management fees of $0.4 million were waived by the Advisor during the year ended December 31, 2013.

As of December 31, 2013, the Company owns a 48.6% membership interest in Brownmill. Affiliates of the Company's Sponsor are the majority owners and manager of Brownmill. See Note 4.

Other Related Party Transactions

From time to time, the Company purchases title insurance from an agent in which our Sponsor owns a 50% limited partnership interest. Because this title insurance agent receives significant fees for providing title insurance, our Advisor may face a conflict of interest when considering the terms of purchasing title insurance from this agent. However, prior to the purchase by the Company of any title insurance, an independent title consultant with more than 25 years of experience in the title insurance industry reviews the transaction, and performs market research and competitive analysis on our behalf. This process results in terms similar to those that would be negotiated at an arm's length basis. During the years ended December 31, 2013, 2012 and 2011, the Company has paid approximately $106, $32 and $0 in fees to this title insurance agent, respectively.

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2013
Commitments and Contingencies [Abstract]	'
Commitments and Contingencies	'
	13. Commitments and Contingencies

	Legal Proceedings

	From time to time in the ordinary course of business, the Company may become subject to legal proceedings, claims or disputes.

	As of the date hereof, the Company is not a party to any material pending legal proceedings of which the outcome is probable or reasonably possible to have a material adverse effect on its results of operations or financial condition, which would require accrual or disclosure of the contingency and possible range of loss. Additionally, the Company has not recorded any loss contingencies related to legal proceedings in which the potential loss is deemed to be remote.

Quarterly_Financial_Data

Quarterly Financial Data	12 Months Ended
Quarterly Financial Data	Dec. 31, 2013
Quarterly Financial Data [Abstract]	'
Quarterly Financial Data	'
	14. Quarterly Financial Data (Unaudited)

	The following table presents selected unaudited quarterly financial data for each quarter during the year ended December 31, 2013 and 2012:

			2013
			Year ended			Quarter ended			Quarter ended			Quarter ended			Quarter ended
			December 31,			December 31,			September 30,			June 30,			March 31,

	Total revenue		$	13,058		$	3,335		$	4,092		$	3,308		$	2,323

	Operating income/(loss)		$	541		$	26		$	490		$	314		$	(289	)

	Net income /(loss) (a)		$	1,370		$	(238	)	$	202		$	1,535		$	(129	)

	Less (income)/loss attributable to noncontrolling interests			(40	)		16			(1	)		(66	)		11

	Net income/(loss) applicable to Company's common shares		$	1,330		$	(222	)	$	201		$	1,469		$	(118	)

	Net income/(loss) per common share, basic and diluted		$	0.21		$	(0.03	)	$	0.03		$	0.25		$	(0.02	)

		(a)	Net income for the year ended December 31, 2013 includes a bargain purchase gain of $1.2 million in the 2nd quarter of 2013 in connection with the purchase of the Arkansas Hotel Portfolio. (See Note 3)

			2012
			Year ended			Quarter ended			Quarter ended			Quarter ended			Quarter ended
			December 31,			December 31,			September 30,			June 30,			March 31,

	Total revenue		$	5,942		$	1,917		$	2,116		$	952		$	957

	Operating (loss)/income		$	(114	)	$	(308	)	$	216		$	(96	)	$	74

	Net income (b)		$	9,764		$	4,627		$	3,828		$	248		$	1,061

	Less income attributable to noncontrolling interests			(555	)		(512	)		(13	)		(13	)		(17	)

	Net income applicable to Company's common shares		$	9,209		$	4,115		$	3,815		$	235		$	1,044

	Net income/(loss) per common share, basic and diluted		$	1.84		$	0.78		$	0.74		$	0.05		$	0.22

		(b)	Net income for the year ended December 31, 2012 includes a bargain purchase gain of $7.8 million which includes a bargain purchase gain recorded in the 4th quarter of 2012 of $4.3 million in connection with the purchase of the Fairfield Inn - East Rutherford and a bargain purchase gain recorded in the 3rd quarter of 2012 of $3.5 million in connection with the purchase of the SpringHill Suites - Peabody. (See Note 3)

Subsequent_Events

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2013
Subsequent Events [Abstract]	'
Subsequent Events	'
	15. Subsequent Events

	Distribution Declaration

	On March 28, 2014, the Company's Board of Directors declared the quarterly distribution for the three-month period ended March 31, 2014, in the amount of $0.00178082191 per share per day, and will equal a daily amount that, if paid each day for a 365-day period, would equal a 6.5% annualized rate based on a share price of $10.00. The distribution will be paid in cash on April 15, 2014 to shareholders of record as of March 31, 2014. The shareholders have an option to elect the receipt of shares under our DRIP.

Schedule_III_Real_Estate_and_A

Schedule III Real Estate and Accumulated Depreciation	12 Months Ended
Schedule III Real Estate and Accumulated Depreciation	Dec. 31, 2013
Schedule III Real Estate and Accumulated Depreciation [Abstract]	'
Schedule III Real Estate and Accumulated Depreciation	'
	Schedule III
	Real Estate and Accumulated Depreciation
	31-Dec-13

										Gross amount at which
				Initial Cost (A)						carried at end of period
		Encumbrance		Land		Buildings and		Net Costs		Land and		Buildings and		Total (B)		Accumulated			Date Acquired		Depreciable
						Improvements		Capitalized &		Improvements		Improvements				Depreciation (C)					Life (D)
								Impairments
								Subsequent to
								Acquisition

	TownePlace Suites Hotel Harahan, LA	$	9,438	$	1,800	$	10,484	$	1,860	$	1,800	$	12,344	$	14,144	$	(1,063	)		1/19/11		(D)

	SpringHill Suites Hotel Peabody, MA		8,097		2,126		10,624		2,473		2,160		13,063		15,223		(994	)		7/13/12		(D)

	Fairfield Inn East Rutherford, NJ		-		2,945		8,743		3,710		2,945		12,453		15,398		(356	)		12/31/12		(D)

	TownePlace Suites Hotel Johnson, AR		2,980		990		4,710		-		990		4,710		5,700		(126	)		6/18/13		(D)

	TownePlace Suites Hotel Little Rock, AR		3,745		1,037		5,220		35		1,047		5,245		6,292		(131	)		6/18/13		(D)

	Total	$	24,260	$	8,898	$	39,781	$	8,078	$	8,942	$	47,815	$	56,757	$	(2,670	)

	Notes to Schedule III:

	(A) The initial cost to the Company represents the original purchase price of the property, including (i) bargain purchase gains recorded in connection with the acquisition and (ii) amounts incurred subsequent to acquisition which were contemplated at the time the property was acquired.

	(B) Reconciliation of total real estate owned:

		2013		2012		2011

	Balance at beginning of year	$	37,336	$	12,514	$	-
	Acquisitions, at cost		10,694		16,581		12,284
	Acquisitions, bargain purchase gain		1,263		7,857		-
	Improvements		7,464		384		230

	Balance at end of year	$	56,757	$	37,336	$	12,514

	(C) Reconciliation of accumulated depreciation:

		For the years ended December 31,
		2013		2012		2011

	Balance at beginning of year	$	850	$	293	$	-
	Depreciation expense		1,820		557		293

	Balance at end of year	$	2,670	$	850	$	293

	(D) Depreciation is computed based upon the following estimated lives:

	Buildings and improvements		15-39 years
	Tenant improvements and equipment		5-10 years

	(E) Amounts included in buildings and improvements include furniture and fixtures and construction in progress.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2013

Summary of Significant Accounting Policies [Abstract]

Basis of Presentation

The consolidated financial statements include the accounts of Lightstone REIT II and the Operating Partnership and its subsidiaries (over which Lightstone REIT exercises financial and operating control). As of December 31, 2013, the Company had a 99.9% general partnership interest in the Operating Partnership. All inter-company balances and transactions have been eliminated in consolidation.

The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). GAAP requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during a reporting period. The most significant assumptions and estimates relate to the valuation of real estate and investments in other real estate entities, depreciable lives of long-lived assets and revenue recognition. Application of these assumptions requires the exercise of judgment as to future uncertainties and, as a result, actual results could differ from these estimates.

Investments in other real estate entities where the Company has the ability to exercise significant influence, but does not exercise financial and operating control, and is not considered to be the primary beneficiary will be accounted for using the equity method. Investments in other real estate entities where the Company has virtually no influence will be accounted for using the cost method.

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. All cash equivalents are held in commercial paper and money market funds.

Supplemental disclosure of cash flow information:

Year Ended December 31,

2013

2012

2011

Cash paid for interest

939

413

Distributions declared

4,050

3,268

2,587

Marketable securities purchased with margin loan, net

3,340

Noncash commissions and other offering costs in accounts payable and other accrued expenses

193

254

286

Subscription receivable

(104

)

(262

)

Value of shares issued from distribution reinvestment program

1,791

1,458

1,182

Issuance of units in exchange for investment in unconsolidated affiliated entities

911

548

Restricted escrow deposits and related liability initially established related to acquisition of mortgage loan receivable

205

Note receivable received in connection with disposition of investment in unconsolidated affiliated entity

2,400

Satisfaction of promissory note

7,029

Marketable Securities

Marketable securities consist of equity securities and corporate bonds that are designated as available-for-sale and are recorded at fair value. Unrealized holding gains or losses will be reported as a component of accumulated other comprehensive income (loss). Realized gains or losses resulting from the sale of these securities will be determined based on the specific identification of the securities sold. An impairment charge will be recognized when the decline in the fair value of a security below the amortized cost basis is determined to be other-than-temporary. The Company will consider various factors in determining whether to recognize an impairment charge, including the duration and severity of any decline in fair value below our amortized cost basis, any adverse changes in the financial condition of the issuers and our intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value. The Board has authorized the Company from time to time to invest the Company's available cash in marketable securities of real estate related companies. The Board of Directors has approved investments up to 30% of the Company's total assets to be made at the Company's discretion, subject to compliance with any REIT or other restrictions.

Revenue Recognition

The Company invests in real estate assets that generate rental income. Minimum rents will be recognized on a straight-line accrual basis, over the terms of the related leases. The capitalized above-market lease values and the capitalized below-market lease values will be amortized as an adjustment to rental income over the initial lease term. Percentage rents, which are based on commercial tenants' sales, will be recognized once the sales reported by such tenants exceed any applicable breakpoints as specified in the tenants' leases. Recoveries from commercial tenants for real estate taxes, insurance and other operating expenses, and from residential tenants for utility costs, will be recognized as revenues in the period that the applicable costs are incurred. Revenues from the operations of the hotel are recognized when the services are provided.

Accounts Receivable

The Company makes estimates of the uncollectability of its accounts receivable related to base rents, expense reimbursements and other revenues. The Company analyzes accounts receivable and historical bad debt levels, customer credit worthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. In addition, tenants in bankruptcy are analyzed and estimates are made in connection with the expected recovery of pre-petition and post-petition claims. The Company's reported net income or loss is directly affected by management's estimate of the collectability of accounts receivable.

Investment in Real Estate

Accounting for Acquisitions

When the Company makes an investment in real estate, the fair value of the real estate acquired is allocated to the acquired tangible assets, consisting of land, building and tenant improvements, and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases for acquired in-place leases and the value of tenant relationships, based in each case on their fair values. Purchase accounting is applied to assets and liabilities related to real estate entities acquired based upon the percentage of interest acquired. Fees incurred related to acquisitions are expensed as incurred and recorded in general and administrative costs in the consolidated statements of operation. Transaction costs incurred related to the Company's investments in unconsolidated affiliated entities, accounted for under the equity method of accounting, are capitalized as part of the cost of the investment.

Upon the acquisition of real estate operating properties, the Company estimates the fair value of acquired tangible assets and identified intangible assets and liabilities and certain liabilities such as assumed debt and contingent liabilities, at the date of acquisition, based on evaluation of information and estimates available at that date. Based on these estimates, the Company allocates the initial purchase price to the applicable assets, liabilities and noncontrolling interests, if any. As final information regarding fair value of the assets acquired, liabilities assumed and noncontrolling interests is received and estimates are refined, appropriate adjustments are be made to the purchase price allocation. The allocations are finalized as soon as all the information necessary is available and in no case later than within twelve months from the acquisition date.

In determining the fair value of the identified intangible assets and liabilities of an acquired property, above-market and below-market in-place lease values are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management's estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of the lease. The capitalized above-market lease values and the capitalized below-market lease values are amortized as an adjustment to rental income over the initial non-cancelable lease term and any fixed-rate renewal periods, which are reasonably assured, in the respective leases.

The aggregate value of in-place leases is determined by evaluating various factors, including an estimate of carrying costs during the expected lease-up periods, current market conditions and similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses, and estimates of lost rental revenue during the expected lease-up periods based on current market demand. Management also estimates costs to execute similar leases including leasing commissions, legal and other related costs. Optional renewal periods are not considered.

The aggregate value of other acquired intangible assets includes tenant relationships. Factors considered by management in assigning a value to these relationships include: assumptions of probability of lease renewals, investment in tenant improvements, leasing commissions and an approximate time lapse in rental income while a new tenant is located. The value assigned to this intangible asset is amortized over the remaining lease terms.

Carrying Value of Assets

The amounts capitalized as a result of periodic improvements and additions to real estate property, when applicable, and the periods over which the assets are depreciated or amortized, are determined based on the application of accounting standards that may require estimates as to fair value and the allocation of various costs to the individual assets. Differences in the amount attributed to the assets can be significant based upon the assumptions made in calculating these estimates.

Impairment Evaluation

Management evaluates the recoverability of its investments in real estate assets at the lowest identifiable level, the individual property level. Long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. An impairment loss is recognized only if the carrying amount of a long-lived asset is not recoverable and exceeds its fair value.

The Company evaluates the long-lived assets for potential impairment on a quarterly basis and records an impairment charge when there is an indicator of impairment and the undiscounted projected cash flows are less than the carrying amount for a particular property. The estimated cash flows used for the impairment analysis and the determination of estimated fair value are based on the Company's plans for the respective assets and the Company's views of market and economic conditions. The estimates consider matters such as current and historical rental rates, occupancies for the respective properties and comparable properties, and recent sales data for comparable properties. Changes in estimated future cash flows due to changes in the Company's plans or views of market and economic conditions could result in recognition of impairment losses, which, under the applicable accounting guidance, could be substantial. As of December 31, 2013 and 2012, the Company did not recognize any impairment charges.

Depreciation and Amortization

Depreciation expense is computed based on the straight-line method over the estimated useful life of the applicable real estate asset. We generally use estimated useful lives of up to thirty-nine years for buildings and improvements and five to ten years for furniture, fixtures and equipment. Expenditures for tenant improvements and construction allowances paid to commercial tenants are capitalized and amortized over the initial term of each lease. Expenditures for ordinary maintenance and repairs are charged to expense as incurred.

Deferred Costs

The Company capitalizes initial direct costs associated with financing and leasing activities. The costs are capitalized upon the execution of the loan or lease and amortized over the initial term of the corresponding loan or lease. Amortization of deferred loan costs begins in the period during which the loan is originated using the effective interest method over the term of the loan. Deferred leasing costs are not amortized to expense until the earlier of the store opening date or the date the tenant's lease obligation begins.

Investments in Unconsolidated Affiliated Entities

The Company evaluates its investments in other entities for consolidation. The percentage interest in the joint venture, evaluation of control and whether a variable interest entity ("VIE") exists are all considered in determining if the investment qualifies for consolidation.

The Company accounts for its investments in unconsolidated affiliated entities using the equity or cost method of accounting, as appropriate. Under the equity method, the investment is recorded initially at cost, and subsequently adjusted for equity in net income/(loss) and cash contributions and distributions. The net income/(loss) of each investor is allocated in accordance with the provisions of the applicable operating agreements of the entities. The allocation provisions in these agreements may differ from the ownership interest held by each investor. Differences between the carrying amount of the Company's investment in the respective joint venture and the Company's share of the underlying equity of such unconsolidated affiliated entities are amortized over the respective lives of the underlying assets as applicable. These items are reported as a single line item in the consolidated statements of operations as income or loss from investments in unconsolidated affiliated entities. Under the cost method of accounting, the investment is recorded initially at cost, and subsequently adjusted for cash contributions and distributions resulting from any capital events. Dividends earned from the underlying entities are recorded as interest income in the consolidated statements of operations.

On a quarterly basis, the Company assesses whether the value of the investments in unconsolidated affiliated entities has been impaired. An investment is impaired only if management's estimate of the fair value of the investment is less than the carrying value of the investment, and such decline in value is deemed to be other than temporary. To the extent impairment has occurred, the loss shall be measured as the excess of the carrying amount of the investment over the fair value of the investment. Management's estimate of value for each investment is based on a number of assumptions that are subject to economic and market uncertainties. As these factors are difficult to predict and are subject to future events that may alter our assumptions, the values estimated by management in the impairment analysis may not be realized. Any decline that is not considered temporary will result in the recording of an impairment charge. Management believes no impairment of its investments in unconsolidated affiliated entities existed as of December 31, 2013 and 2012.

Income Taxes

We elected to be taxed as a REIT in conjunction with the filing of our 2009 U.S. federal income tax return. If we remain qualified as a REIT, we generally will not be subject to U.S. federal income tax on our net taxable income that we distribute currently to our stockholders. To maintain our REIT qualification under the Internal Revenue Code of 1986, as amended, or the Code, we must meet a number of organizational and operational requirements, including a requirement that we annually distribute to our stockholders at least 90% of our REIT taxable income (which does not equal net income, as calculated in accordance with GAAP), determined without regard to the deduction for dividends paid and excluding any net capital gain. If we fail to remain qualified for taxation as a REIT in any subsequent year and do not qualify for certain statutory relief provisions, our income for that year will be taxed at regular corporate rates, and we may be precluded from qualifying for treatment as a REIT for the four-year period following our failure to qualify as a REIT. Such an event could materially adversely affect our net income and net cash available for distribution to our stockholders.

The tax years subsequent to and including 2010 remain open to examination by the major taxing jurisdictions to which we are subject.

Additionally, even if we qualify as a REIT for U.S. federal income tax purposes, we may still be subject to some U.S. federal, state and local taxes on our income and property and to U.S. federal income taxes and excise taxes on our undistributed income.

Fair Value of Financial Instruments

The carrying amounts of cash and cash equivalents, restricted escrows, prepaid expenses and other assets, accounts payable and other accrued expenses, the margin loan, due to sponsor, and distributions payable approximated their fair values as of December 31, 2013 because of the short maturity of these instruments. The estimated fair value of our mortgages payable is as follows:

As of December 31, 2013

As of December 31, 2012

(Dollars in thousands)

Carrying Amount

Estimated Fair

Carrying Amount

Estimated Fair

Value

Mortgages payable

24,260

23,898

11,157

Selling Commission, Dealer Manager Fees and Organization and Other Offering Costs

Selling commissions and dealer manager fees paid to the Dealer Manager, and other third-party offering expenses such as registration fees, due diligence fees, marketing costs, and professional fees are accounted for as a reduction against additional paid-in capital ("APIC") as costs are incurred. Any organization costs are expensed as general and administrative costs. Through December 31, 2013, the Company has incurred approximately $7.3 million in selling commissions and dealer manager fees and $7.9 million of other offering costs. From the commencement of the offering through December 31, 2013, the Company has recorded approximately $15.2 million of these costs against APIC.

Accounting for Derivative Financial Investments and Hedging Activities.

The Company may enter into derivative financial instrument transactions in order to mitigate interest rate risk on a related financial instrument. The Company may designate these derivative financial instruments as hedges and apply hedge accounting. The Company will record all derivative instruments at fair value on the consolidated balance sheet.

Derivative instruments designated in a hedge relationship to mitigate exposure to variability in expected future cash flows, or other types of forecasted transactions, will be considered cash flow hedges. The Company will formally document all relationships between hedging instruments and hedged items, as well as our risk- management objective and strategy for undertaking each hedge transaction. The Company will periodically review the effectiveness of each hedging transaction, which involves estimating future cash flows. Cash flow hedges will be accounted for by recording the fair value of the derivative instrument on the consolidated balance sheet as either an asset or liability, with a corresponding amount recorded in accumulated other comprehensive income (loss) within stockholders' equity. Amounts will be reclassified from other comprehensive income (loss) to the consolidated statement of operations in the period or periods the hedged forecasted transaction affects earnings. Derivative instruments designated in a hedge relationship to mitigate exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, will be considered fair value hedges. The effective portion of the derivatives gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings when the transaction affects earnings. The ineffective portion of the gain or loss is reported in earnings immediately.

Stock-Based Compensation

The Company has an Employee and Director Incentive Restricted Share Plan. Awards, if any, will be granted at the fair market value on the date of the grant with fair value estimated using the Black-Scholes-Merton option valuation model, which incorporates assumptions surrounding the volatility, dividend yield, the risk-free interest rate, expected life, and the exercise price as compared to the underlying stock price on the grant date. As stock-based compensation expense recognized in the consolidated statements of operations will be based on awards ultimately expected to vest, the amount of expense will be reduced for forfeitures estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Forfeitures will be estimated based on historical experience. The tax benefits associated with these share-based payments will be classified as financing activities in the consolidated statement of cash flows. The Company has not granted any stock-based incentive awards.

Concentration of Risk

The Company maintains its cash in bank deposit accounts, which, at times, may exceed U.S. federally insured limits. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents.

Basic and Diluted Net Earnings per Common Share

The Company had no potentially dilutive securities outstanding during the periods presented. Accordingly, earnings per share is calculated by dividing net income/(loss) attributable to common shareholders by the weighted-average number of shares of common stock outstanding during the applicable period.

New Accounting Pronouncements

The Company has determined that no new accounting pronouncement issued or effective during the period had or is expected to have a material impact on its consolidated financial position, results of operations and cash flows, or do not apply to its operations.

Reclassifications

Certain prior period amounts may have been reclassified to conform to the current year presentation.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
Summary of Significant Accounting Policies (Tables)	Dec. 31, 2013
Summary of Significant Accounting Policies [Abstract]	'
Summary of Supplemental Cash Flow Information	'
	Supplemental disclosure of cash flow information:	Year Ended December 31,
		2013		2012			2011

	Cash paid for interest	$	939	$	413		$	-
	Distributions declared	$	4,050	$	3,268		$	2,587
	Marketable securities purchased with margin loan, net	$	-	$	-		$	3,340
	Noncash commissions and other offering costs in accounts payable and other accrued expenses	$	193	$	254		$	286
	Subscription receivable	$	25	$	(104	)	$	(262	)
	Value of shares issued from distribution reinvestment program	$	1,791	$	1,458		$	1,182
	Issuance of units in exchange for investment in unconsolidated affiliated entities	$	-	$	911		$	548
	Restricted escrow deposits and related liability initially established related to acquisition of mortgage loan receivable	$	-	$	-		$	205
	Note receivable received in connection with disposition of investment in unconsolidated affiliated entity	$	-	$	2,400		$	-
	Satisfaction of promissory note	$	-	$	7,029		$	-

Summary of Estimated Fair Value of Debt	'
	The estimated fair value of our mortgages payable is as follows:

		As of December 31, 2013					As of December 31, 2012
	(Dollars in thousands)	Carrying Amount		Estimated Fair			Carrying Amount			Estimated Fair
	(Dollars in thousands)	Carrying Amount		Value			Carrying Amount			Value
	Mortgages payable	$	24,260	$	23,898		$	11,157		$	11,157

Acquisitions_Tables

Acquisitions (Tables)	12 Months Ended
Acquisitions (Tables)	Dec. 31, 2013
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]	'
Schedule of Revenue and Net Income Included in Consolidated Statements of Operations	'
	The following table provides the total amount of rental revenue and net income included in the Company's consolidated statements of operations from the TownePlace Suites - Metairie, the SpringHill Suites - Peabody, the Fairfield Inn - East Rutherford and the Arkansas Hotel Portfolio since their respective dates of acquisition for the periods indicated:

			For the Years Ended December 31,
			2013		2012		2011
	Rental revenue		$	13,058	$	5,942	$	2,978
	Net income⁽¹⁾⁽²⁾		$	1,084	$	8,005	$	536

	Note:
		-1	Includes the $7.9 million bargain purchase gain recorded in the year ended December 31, 2012 in connection with the acquisitions of the SpringHill Suites - Peabody and the Fairfield Inn - East Rutherford.
		-2	Includes the approximately $1.3 million bargain purchase gain recorded in the year ended December 31, 2013 in connection with the acquisition of the Arkansas Hotel Portfolio.

Schedule of Unaudited Pro Forma Results of Operations	'
	The following table provides unaudited pro forma results of operations for the periods indicated, as if the TownePlace Suites - Metairie, the SpringHill Suites - Peabody, the Fairfield Inn - East Rutherford and the Arkansas Hotel Portfolio had been acquired at the beginning of the earliest period presented. Such pro forma results are not necessarily indicative of the results that actually would have occurred had these acquisitions been completed on the dates indicated, nor are they indicative of the future operating results of the combined company.

			For the Years Ended December 31,
			2013		2012		2011
	Pro forma rental revenue		$	14,699	$	15,254	$	13,957
	Pro forma net income/(loss) per Company's common share ⁽³⁾⁽⁴⁾		$	295	$	115	$	(1,123	)
	Pro forma net income/(loss) per Company's common share, basic and diluted⁽³⁾⁽⁴⁾		$	0.05	$	0.05	$	(0.28	)

	Note:
		-3	Excludes $7.9 million bargain purchase gain recorded in the year ended December 31, 2012 in connection with the acquisitions of the SpringHill Suites - Peabody and the Fairfield Inn - East Rutherford.
		-4	Excludes the approximately $1.3 million bargain purchase gain recorded in the year ended December 31, 2013 in connection with the acquisition of the Arkansas Hotel Portfolio.

Investments_in_Unconsolidated_1

Investments in Unconsolidated Affiliated Entities (Tables)	12 Months Ended
Investments in Unconsolidated Affiliated Entities (Tables)	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]	'
Summary of Investments in Unconsolidated Entities	'
	A summary of the Company's investments in unconsolidated affiliated entities is as follows:

									As of
	Entity		Date of Ownership		Ownership %				31-Dec-13				31-Dec-12
	Brownmill LLC ("Brownmill")		Various			48.58	%		$	3,834			$	4,076
	LVP Rego Park, LLC ("Rego Park Joint Venture")		12-Apr-11			10	%			-				1,874
	Total investments in unconsolidated affiliated entities								$	3,834			$	5,950

Brownmill, LLC [Member]	'
Schedule of Equity Method Investments [Line Items]	'
Unaudited Condensed Income Statements of Affiliated Entities	'
	The following table represents the unaudited condensed income statement for Brownmill for the period indicated:

			For the Year				For the Year				For the Year
			Ended December				Ended December				Ended December
			31, 2013				31, 2012				31, 2011
	Revenue		$	3,551			$	3,682			$	3,821

	Property operating expenses			1,377				1,361				1,723
	Depreciation and amortization			840				862				824

	Operating income			1,334				1,459				1,274

	Interest expense and other, net			(1,151	)			(1,179	)			(1,178	)

	Net income		$	183			$	280			$	96

	Company's share of net income		$	89			$	122			$	23

	Additional depreciation and amortization expense ⁽¹⁾			(259	)			(283	)			(243	)

	Company's loss from investment		$	(170	)		$	(161	)		$	(220	)

		1	Additional depreciation and amortization expense relates to the amortization of the difference between the cost of the interest in Brownmill and the amount of the underlying equity in net assets of Brownmill.

Unaudited Condensed Balance Sheets of Affiliated Entities	'
	The following table represents the unaudited condensed balance sheet for Brownmill:

			As of				As of
			31-Dec-13				31-Dec-12

	Real estate, at cost (net)		$	16,039			$	16,760
	Cash and restricted cash			1,530				947
	Other assets			1,363				1,602
	Total assets		$	18,932			$	19,309

	Mortgage payable		$	20,700			$	21,159
	Other liabilities			588				540
	Members' deficiency			(2,356	)			(2,390	)
	Total liabilities and members' deficiency		$	18,932			$	19,309

LVP CP Boston, LLC [Member]	'
Schedule of Equity Method Investments [Line Items]	'
Unaudited Condensed Income Statements of Affiliated Entities	'
	The following table represents the unaudited condensed income statement for the CP Boston Joint Venture for the period indicated:

			For the Period March
			21, 2011 through
			31-Dec-11
	Revenue		$	10,919

	Property operating expenses			10,684
	Franchise cancellation expense			1,235
	Depreciation and amortization			288
	Operating loss			(1,288	)
	Other income			17

	Net loss		$	(1,271	)

	Company's share of net loss		$	(254	)

LVP Rego Park, LLC [Member]	'
Schedule of Equity Method Investments [Line Items]	'
Unaudited Condensed Income Statements of Affiliated Entities	'
	The following table represents the unaudited condensed income statement for the Rego Park Joint Venture for the period indicated:

			For the Year				For the Year				For the Period
			ended				ended				April 12, 2011
			December				December 31,				through
			31, 2013				2012				December 31,
											2011

	Operating expenses		$	3			$	5			$	202
	Operating loss			(3	)			(5	)			(202	)
	Interest income			1,725				3,203				2,068
	Net income		$	1,722			$	3,198			$	1,866
	Company's share of net income before adjustment		$	172			$	320			$	187
	Basis adjustment on mortgage loan			(16	)			-				-
	Company's share of net income		$	156			$	320			$	187

Unaudited Condensed Balance Sheets of Affiliated Entities	'
	The following table represents the unaudited condensed balance sheet for Rego Park Joint Venture:

			As of
			31-Dec-12

	Cash and restricted cash		$	91
	Mortgage note receivable, net			18,443
	Other assets			45
	Total assets		$	18,579

	Members' capital		$	18,579
	Total liabilities and members' capital		$	18,579

Marketable_Securities_and_Fair1

Marketable Securities and Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2013
Marketable Securities and Fair Value Measurements [Abstract]	'
Summary of Available for Sale Securities	'
	The following is a summary of the Company's available for sale securities as of the dates indicated:

		As of December 31, 2013
		Adjusted Cost		Gross Unrealized Gains		Gross Unrealized		Fair Value
						Losses
	Equity Securities	$	7,735	$	399	$		$	8,134

		As of December 31, 2012
		Adjusted Cost		Gross Unrealized Gains		Gross Unrealized		Fair Value
						Losses
	Equity Securities	$	7,915	$	229	$	-	$	8,144

Mortgages_Payable_Tables

Mortgages Payable (Tables)	12 Months Ended
Mortgages Payable (Tables)	Dec. 31, 2013
Mortgages Payable [Abstract]	'
Schedule of Mortgages Payable	'
	Mortgages payable consisted of the following:

											Loan Amount Outstanding
	Description	Interest Rate		Weighted				Maturity	Amount Due		As of		As of
				Average				Date	at Maturity		December 31,		December 31,
				Interest Rate							2013		2012
				as of December
				31, 2013

	TownePlace Suites Mortgage, secured by TownePlace Suites - Metairie	Libor plus 3.75%, subject to 6.00% floor									$	-	$	5,923

	SpringHill Suites Hotel Mortgage, secured by SpringHill Suites - Peabody	Libor plus 3.75%, subject to 5.75% floor										-		5,234

	Promissory Note, secured by four properties	4.94%			4.94	%		Aug-18	$	21,754		24,260		-
					4.94	%					$	24,260	$	11,157

Schedule of Estimated Contractual Principal Maturities	'
	The following table, based on the initial terms of the mortgages, sets forth their aggregate estimated contractual principal maturities, including balloon payments due at maturity, as of December 31, 2013:

		2014				2015			2016		2017		2018		Thereafter		Total
	Principal maturities	$	499			$	524		$	548	$	580	$	22,109	$	-	$	24,260

Selling_Commission_Dealer_Mana1

Selling Commission, Dealer Manager Fees and Other Offering Costs (Tables)	12 Months Ended
	Dec. 31, 2013
Selling Commission Dealer Manager Fees And Other Offering Costs [Abstract]	'
Summary of Selling Commissions, Dealer Manager Fees and Other Offering Costs	'
	The following table represents the selling commissions and dealer manager and other offering costs for the periods indicated:

		For the Years Ended December 31,
		2013		2012		2011

	Selling commissions and dealer manager fees	$	2,023	$	715	$	943
	Other offering costs	$	1,937	$	1,495	$	1,611

Related_Party_Transactions_Tab

Related Party Transactions (Tables)	12 Months Ended
Related Party Transactions (Tables)	Dec. 31, 2013
Related Party Transactions [Abstract]	'
Schedule of Fees to Related Parties	'
	The following table represents the fees incurred associated with the payments to the Company's Advisor and Property Manager for the periods:

		For the Years Ended December 31,
		2013		2012		2011
	Acquisition fees	$	102	$	85	$	141
	Asset management fees		114		346		268
	Development fees		78		-		-
	Total	$	294	$	431	$	409

Quarterly_Financial_Data_Table

Quarterly Financial Data (Tables)	12 Months Ended
Quarterly Financial Data (Tables)	Dec. 31, 2013
Quarterly Financial Data [Abstract]	'
Schedule of Quarterly Financial Data	'
	The following table presents selected unaudited quarterly financial data for each quarter during the year ended December 31, 2013 and 2012:

			2013
			Year ended			Quarter ended			Quarter ended			Quarter ended			Quarter ended
			December 31,			December 31,			September 30,			June 30,			March 31,

	Total revenue		$	13,058		$	3,335		$	4,092		$	3,308		$	2,323

	Operating income/(loss)		$	541		$	26		$	490		$	314		$	(289	)

	Net income /(loss) (a)		$	1,370		$	(238	)	$	202		$	1,535		$	(129	)

	Less (income)/loss attributable to noncontrolling interests			(40	)		16			(1	)		(66	)		11

	Net income/(loss) applicable to Company's common shares		$	1,330		$	(222	)	$	201		$	1,469		$	(118	)

	Net income/(loss) per common share, basic and diluted		$	0.21		$	(0.03	)	$	0.03		$	0.25		$	(0.02	)

		(a)	Net income for the year ended December 31, 2013 includes a bargain purchase gain of $1.2 million in the 2nd quarter of 2013 in connection with the purchase of the Arkansas Hotel Portfolio. (See Note 3)

			2012
			Year ended			Quarter ended			Quarter ended			Quarter ended			Quarter ended
			December 31,			December 31,			September 30,			June 30,			March 31,

	Total revenue		$	5,942		$	1,917		$	2,116		$	952		$	957

	Operating (loss)/income		$	(114	)	$	(308	)	$	216		$	(96	)	$	74

	Net income (b)		$	9,764		$	4,627		$	3,828		$	248		$	1,061

	Less income attributable to noncontrolling interests			(555	)		(512	)		(13	)		(13	)		(17	)

	Net income applicable to Company's common shares		$	9,209		$	4,115		$	3,815		$	235		$	1,044

	Net income/(loss) per common share, basic and diluted		$	1.84		$	0.78		$	0.74		$	0.05		$	0.22

		(b)	Net income for the year ended December 31, 2012 includes a bargain purchase gain of $7.8 million which includes a bargain purchase gain recorded in the 4th quarter of 2012 of $4.3 million in connection with the purchase of the Fairfield Inn - East Rutherford and a bargain purchase gain recorded in the 3rd quarter of 2012 of $3.5 million in connection with the purchase of the SpringHill Suites - Peabody. (See Note 3)

Organization_Details

Organization (Details) (USD $)

1 Months Ended

12 Months Ended

51 Months Ended

57 Months Ended

12 Months Ended

36 Months Ended

67 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

16 Months Ended

40 Months Ended

1 Months Ended

40 Months Ended

In Thousands, except Share data, unless otherwise specified

20-May-08

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Mar. 30, 2012

Sep. 30, 2009

Apr. 24, 2009

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

20-May-08

Sep. 27, 2012

Apr. 24, 2009

Dec. 31, 2013

Aug. 15, 2012

Apr. 24, 2009

Sep. 27, 2012

Aug. 15, 2012

Apr. 24, 2009

Sep. 27, 2012

Apr. 24, 2009

Brownmill, LLC [Member]

for each $1.0 million in subscriptions up to ten percent of its primary offering proceeds on a semi-annual basis [Member]

Advisory Services [Member]

Public Offering [Member]

Distribution Reinvestment Plan [Member]

Restricted Share Award [Member]

Maximum [Member]

Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]

Date of incorporation

28-Apr-08

Lightstone REIT, partnership formation date

30-Apr-08

Common stock, shares authorized

100,000,000

Common stock, price per share

$10

$9.50

Shares reserved for issuance

30,000,000

51,000,000

2,500,000

6,500,000

Common stock authorized and reserved for issuance under plan

75,000

255,000

Initial Public Offering Starting Date

24-Apr-09

Initial public offer expiration date

15-Aug-12

Stock issued during period, per share

$10

Stock issued during period for services, shares

20,000

Stock issued during period for services, value

$200

Proceeds from offering, shares

2,300,000

5,000,000

300,000

Proceeds from offering

21,966

7,152

9,833

22,800

Subscription receivable

6,500

Gross proceeds from issuance of equity

72,600

49,800

Selling commissions and dealer manager fees

2,023

715

943

7,300

5,200

Payment for organization and other offering expenses

4,500

Net proceeds from issuance initial public offering

40,100

Proceeds form issuance of equity, share-based compensation plan

2,900

General partner ownership interest

99.90%

Advisor's contribution to operating partnership

Partnership unit issued

200

Subordinate General Partner Unit Value

100,000

Subordinated general partner participation, per unit cost

$100

$1,000

Percentage of subscriptions

10.00%

Sponsor's cash contribution

1,600

Ownership interest

48.60%

Subordinate profit interest units

Aggregate value of subordinate profits

$900

$600

$3,300

$4,800

$6,400

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Narrative) (Details) (USD $)	12 Months Ended			51 Months Ended	57 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013	Dec. 31, 2013
Summary of Significant Accounting Policies [Abstract]	'	'	'	'	'
Percentage general partnership interest in common units operating partnership	99.90%	'	'	99.90%	'
REIT annual distribution, percent of taxable income	90.00%	'	'	'	'
Mortgages payable-Carrying Amount	$24,260	$11,157	'	$24,260	$24,260
Mortgages payable-Estimated Fair Value	23,898	11,157	'	23,898	23,898
Selling commissions and dealer manager fees	2,023	715	943	'	7,300
Other offering costs	1,937	1,495	1,611	'	7,900
Aggregate offering costs	'	'	'	'	$15,200

Summary_of_Significant_Account4

Summary of Significant Accounting Policies (Summary of Supplemental Cash Flow Information) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Summary of Significant Accounting Policies [Abstract]	'	'	'
Cash paid for interest	$939	$413	'
Distributions declared	4,050	3,268	2,587
Marketable securities purchased with margin loan, net	'	'	3,340
Noncash commissions and other offering costs in accounts payable and other accrued expenses	193	254	286
Subscription receivable	25	-104	-262
Value of shares issued from distribution reinvestment program	1,791	1,458	1,182
Issuance of note payable in exchange for remaining interest in CP Boston Joint Venture	'	911	548
Restriced escrow deposits and related liability initially established acquisition of mortgage loan receivable	'	'	205
Note receivable received in connection with disposition of investment in unconsolidated affiliated entity	'	2,400	'
Satisfaction of promissory note	'	$7,029	'

Acquisitions_Narrative_Details

Acquisitions (Narrative) (Details) (USD $)

12 Months Ended

1 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

0 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

1 Months Ended

In Thousands, unless otherwise specified

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Jun. 29, 2010

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2012

Jun. 18, 2013

Jun. 30, 2013

Jul. 31, 2013

Jun. 18, 2013

Jun. 30, 2013

Jun. 18, 2013

Jan. 19, 2011

Sep. 30, 2012

Dec. 31, 2012

Dec. 31, 2011

Jan. 19, 2011

Dec. 31, 2012

Jul. 13, 2012

Dec. 31, 2013

Dec. 31, 2012

Jun. 29, 2010

Dec. 31, 2012

Dec. 31, 2011

Jun. 29, 2010

LVP East Rutherford Promissory Note [Member]

TPS Metairie, LLC [Member]

LVP East Rutherford [Member]

Arkansas Hotel Portfolio [Member]

Four Hotel Properties [Member]

Towne Place Suites Hotel [Member]

SpringHill Suites Hotel [Member]

LVP Metairie JV, LLC [Member]

LVP SHS Peabody Holdings, LLC [Member]

FFI Hotel [Member]

Demand Note [Member]

TPSLR, LLC and TPSFN, LLC [Member]

TPS Metairie, LLC [Member]

Sherman Family Trust [Member]

Non Recourse Loans [Member]

LVP East Rutherford [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Business acquisition, percentage of voting interests acquired

95.00%

Noncontrolling interest, ownership percentage by noncontrolling owners

5.00%

Amount of acquisition contributed by TPS metairie member

$700

Total purchase consideration

10,700

29,100

12,000

10,100

7,400

Total business acquisition contract price, net of closing and other transaction-related costs

12,000

Acquisition fees received by the advisor as percentage of acquisition price

0.95%

Acquisition fees received by the advisor

102

100

Fair value of assets acquired

11,900

11,700

Bargain purchase gain

1,263

7,857

1,200

3,500

4,300

Cash consideration paid

3,700

11,400

Equity issuance, closing and other transaction costs

200

Debt instrument, face amount

6,300

7,000

18,700

Interest rate, Libor plus

4.95%

Payments of demand note

4,000

3,000

Management agreement period

'1 year

Monthly base management fees

3.00%

Possible additional one-year extensions

Advance termination written notice period before anniversary date

'90 days

'60 days

Centralized accounting fees

Management incentive fee, as a percent of the gross operating income over established threshold

15.00%

Management incentive cap, as a percent of total annual revenues

2.00%

Percentage of annualized preferred return on invested capital

12.00%

Pro rata Percentage of distribution after annualized preferred return on invested capital achieved

85.00%

15.00%

Distribution

3,144

5,814

306

3,319

6,120

Annualized preferred returns

561

1,497

745

600

1,575

784

Return on invested capital

2,583

4,317

136

228

2,719

4,545

Net proceeds from mortgage loan included in distribution

24,420

11,273

6,000

FF&E reserve, included in restricted escrows

800

Franchise agreement period

'20 years

Purchase price allocation land

2,000

1,800

2,800

2,500

Purchase price allocation building and improvements

8,000

9,700

9,000

8,400

Purchase price allocation furniture and fixtures

1,900

500

1,000

800

Purchase price allocation early termination fees

1,200

Proceeds from mortgage loan

5,300

Asset capitalization rate

10.60%

10.70%

10.50%

8.00%

Mortgage loan receivable, net

7,029

7,900

Carrying value of investment

3,834

5,950

7,000

Excess cash applied to principal

100

Interest income

800

1,000

Percent of outstanding common units acquired

5.10%

82.60%

17.40%

Maturity date

6-Jan-21

Debt instrument, stated interest rate

9.00%

Percent of outstanding common units held

87.70%

Debt amortization period

'30 years

Payments for acquisition of common units

$100

Acquisitions_Amounts_of_Revenu

Acquisitions (Amounts of Revenue and Net Income Included in Consolidated Statements of Operations) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
Business Acquisition [Line Items]	'		'		'
Rental revenue	$13,058		$5,942		$2,978
Net income	$1,084	[1],[2]	$8,005	[1],[2]	$536	[1],[2]

[1]	Includes the $7.9 million bargain purchase gain recorded in the year ended December 31, 2012 in connection with the acquisitions of the SpringHill Suites - Peabody and the Fairfield Inn - East Rutherford.
[2]	Includes the approximately $1.3 million bargain purchase gain recorded in the year ended December 31, 2013 in connection with the acquisition of the Arkansas Hotel Portfolio.

Acquisitions_Unaudited_Pro_For

Acquisitions (Unaudited Pro Forma Results of Operations) (Details) (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]	'		'		'
Pro forma rental revenue	$14,699		$15,254		$13,957
Pro forma net income/(loss) per Company's common share	$295	[1],[2]	$115	[1],[2]	($1,123)	[1],[2]
Pro forma net income/(loss) per Company's common share, basic and diluted	$0.05	[1],[2]	$0.05	[1],[2]	($0.28)	[1],[2]

[1]	Excludes $7.9 million bargain purchase gain recorded in the year ended December 31, 2012 in connection with the acquisitions of the SpringHill Suites - Peabody and the Fairfield Inn - East Rutherford.
[2]	Excludes the approximately $1.3 million bargain purchase gain recorded in the year ended December 31, 2013 in connection with the acquisition of the Arkansas Hotel Portfolio.

Investments_in_Unconsolidated_2

Investments in Unconsolidated Affiliated Entities (Company's Investments in Unconsolidated Affiliated Entities) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Apr. 12, 2011
Schedule of Equity Method Investments [Line Items]	'	'	'
Investments in unconsolidated affiliated entities	$3,834	$5,950	'
Brownmill, LLC [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Date of Acquisition	'Various	'	'
Ownership interest	48.60%	'	'
Investments in unconsolidated affiliated entities	3,834	4,076	'
LVP Rego Park, LLC [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Date of Ownership	12-Apr-11	'	'
Ownership interest	10.00%	'	10.00%
Investments in unconsolidated affiliated entities	'	$1,874	'

Investments_in_Unconsolidated_3

Investments in Unconsolidated Affiliated Entities (Narrative) (Details) (USD $)

12 Months Ended

36 Months Ended

67 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

0 Months Ended

In Thousands, except Share data, unless otherwise specified

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2012

Dec. 31, 2013

Jun. 30, 2013

Feb. 20, 2012

Mar. 21, 2011

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Apr. 12, 2011

Brownmill, LLC [Member]

LVP CP Boston, LLC [Member]

LVP Rego Park, LLC [Member]

Estimate of Fair Value, Fair Value Disclosure [Member]

sqft

Non Recourse Loans [Member]

Lightstone REIT I [Member]

Equity [Member]

Mortgages [Member]

Second Mortgage [Member]

Schedule of Equity Method Investments [Line Items]

Equity investment, percentage ownership purchased

8.60%

5.60%

34.40%

48.60%

Ownership interest

48.60%

20.00%

10.00%

90.00%

Subordinate profit interest units

Subordinated general partner participation, per unit cost

$100

Aggregate value of subordinate profits

$900

$600

$3,300

$4,800

$6,400

Capital contributions

15,500

4,800

10,700

Number of rooms in hotel to be acquired

366

Number of stories in hotel to be acquired

Area of real estate property

65,000

Purchase Price of hotel

10,100

Ownership interest by parent

80.00%

Company's share of aggregate purchase price

3,993

2,000

1,500

Acquisition fees received by the advisor as percentage of acquisition price

0.95%

Acquisition Fee for Advisor (amount)

Effective date of joint venture

1-Jan-12

Percentage of joint venture interest disposed

20.00%

Percentage of ownership

100.00%

Total consideration received

300

Cash consideration received

600

Non cash consideration received

2,400

Interest of note

10.00%

Interest income

105

240

Proceeds from principal paydown

Collection of outstanding balance to Lightstone REIT I

2,340

Gain on disposition of investment

700

Acquired Nonrecourse Second Mortgage note, gross

19,500

Acquired Nonrecourse Second Mortgage note, net

7,029

15,100

Discount on outstanding principal nonrecourse second mortgage note balance

4,400

Acquired nonrecourse second mortgage note, due date

31-May-13

Acquired nonrecourse second mortgage note, fixed interest rate

5.00%

Acquired nonrecourse second mortgage note, fixed monthly interest receipt

100

Distribution to members

150

300

21,000

Distribution Received from real estate partnership

$73

$135

$2,100

Investments_in_Unconsolidated_4

Investments in Unconsolidated Affiliated Entities (Unaudited Condensed Income Statement) (Details) (USD $)

12 Months Ended

9 Months Ended

12 Months Ended

In Thousands, unless otherwise specified

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Brownmill, LLC [Member]

LVP CP Boston, LLC [Member]

LVP Rego Park, LLC [Member]

Schedule of Equity Method Investments [Line Items]

Revenue

$3,551

$3,682

$3,821

$10,919

Operating expenses

202

Property operating expenses

1,377

1,361

1,723

10,684

Franchise cancellation expense

1,235

Depreciation and amortization

840

862

824

288

Operating income/(loss)

1,334

1,459

1,274

-1,288

-202

-3

-5

Interest expense and other, net

-1,151

-1,179

-1,178

Interest income

2,068

1,725

3,203

Net income/(loss)

183

280

-1,271

1,866

1,722

3,198

Company's share of net income/(loss)

-14

159

-287

122

-254

187

172

320

Basis adjustment on mortgage loan

-16

Additional depreciation and amortization expense

-259

[1]

-283

[1]

-243

[1]

Company's loss from investment

($170)

($161)

($220)

$187

$156

$320

[1]

Additional depreciation and amortization expense relates to the amortization of the difference between the cost of the interest in Brownmill and the amount of the underlying equity in net assets of Brownmill.

Investments_in_Unconsolidated_5

Investments in Unconsolidated Affiliated Entities (Unaudited Condensed Balance Sheet) (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Brownmill, LLC [Member]	'	'
Equity method investment, assets	$18,932	$19,309
Member (deficit) capital	-2,356	-2,390
Total liabilities and members' capital	18,932	19,309
Brownmill, LLC [Member] \| Real estate, at cost (net) [Member]	'	'
Equity method investment, assets	16,039	16,760
Brownmill, LLC [Member] \| Cash and restricted cash [Member]	'	'
Equity method investment, assets	1,530	947
Brownmill, LLC [Member] \| Other assets [Member]	'	'
Equity method investment, assets	1,363	1,602
Brownmill, LLC [Member] \| Mortgage payable [Member]	'	'
Equity method investment, liabilities	20,700	21,159
Brownmill, LLC [Member] \| Other liabilities [Member]	'	'
Equity method investment, liabilities	588	540
LVP Rego Park, LLC [Member]	'	'
Equity method investment, assets	'	18,579
Member (deficit) capital	'	18,579
Total liabilities and members' capital	'	18,579
LVP Rego Park, LLC [Member] \| Cash and restricted cash [Member]	'	'
Equity method investment, assets	'	91
LVP Rego Park, LLC [Member] \| Mortgage note receivable, net [Member]	'	'
Equity method investment, assets	'	18,443
LVP Rego Park, LLC [Member] \| Other assets [Member]	'	'
Equity method investment, assets	'	$45

Marketable_Securities_and_Fair2

Marketable Securities and Fair Value Measurements (Summary of Available for Sale Securities) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Schedule of Available-for-sale Securities [Line Items]	'	'
Fair Value	$8,134	$8,144
Equity Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost	7,735	7,915
Gross Unrealized Gains	399	229
Gross Unrealized Losses	'	'
Fair Value	$8,134	$8,144

Marketable_Securities_and_Fair3

Marketable Securities and Fair Value Measurements (Narrative) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Debt Instrument [Line Items]	'	'	'
Margin loan	$1,906	$2,716	'
Interest expense	1,035	535	19
Margin Loan [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Interest rate, Libor plus	0.85%	'	'
Libor	1.02%	'	'
Interest expense	$24	$34	'

Mortgages_Payable_Schedule_of_

Mortgages Payable (Schedule of Mortgages Payable) (Details) (USD $)	1 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jul. 29, 2013	Dec. 31, 2013	Dec. 31, 2012
Debt Instrument [Line Items]	'	'	'
Weighted average interest rate	'	4.94%	'
Loan amount outstanding	'	$24,260	$11,157
TownePlace Suites Mortgage [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Interest rate, Libor plus	'	3.75%	'
Interest rate, floor	'	6.00%	'
Amount due at maturity	'	'	'
Loan amount outstanding	'	'	5,923
SpringHill Suites Mortgage [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Interest rate, Libor plus	'	3.75%	'
Interest rate, floor	'	5.75%	'
Amount due at maturity	'	'	'
Loan amount outstanding	'	'	5,234
Promissory Note, secured by four properties [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Interest rate	4.94%	4.94%	'
Weighted average interest rate	'	4.94%	'
Maturity date	6-Aug-18	6-Aug-18	'
Amount due at maturity	'	21,754	'
Loan amount outstanding	'	$24,260	'

Mortgages_Payable_Narrative_De

Mortgages Payable (Narrative) (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Jul. 29, 2013	Dec. 31, 2013	Jul. 29, 2013	Jul. 29, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Promissory Note, secured by four properties [Member]	Promissory Note, secured by four properties [Member]	TownePlace Suites and Springhill Suites Mortgage [Member]	Demand Note [Member]
Debt Instrument [Line Items]	'	'	'	'	'	'
Debt instrument, face amount	'	'	$24,400	'	'	'
Debt instrument, borrowing period	'	'	'5 years	'	'	'
Maturity date	'	'	6-Aug-18	6-Aug-18	'	'
Interest rate	'	'	4.94%	4.94%	'	'
Monthly payments	'	'	142	'	'	'
Repayment of outstanding debt	'	'	'	'	11,100	4,000
Escrow reserved for property improvements and repairs	'	'	1,000	'	'	'
Debt fees	'	'	400	'	'	'
Restricted escrows	$2,294	$2,799	'	$1,300	'	'

Mortgages_Payable_Contractual_

Mortgages Payable (Contractual Principal Maturities) (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Mortgages Payable [Abstract]	'	'
2014	$499	'
2015	524	'
2016	548	'
2017	580	'
2018	22,109	'
Thereafter	'	'
Total	$24,260	$11,157

Selling_Commission_Dealer_Mana2

Selling Commission, Dealer Manager Fees and Other Offering Costs (Details) (USD $)	12 Months Ended			57 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013
Selling Commission Dealer Manager Fees And Other Offering Costs [Abstract]	'	'	'	'
Selling commissions and dealer manager fees	$2,023	$715	$943	$7,300
Other offering costs	$1,937	$1,495	$1,611	$7,900

Stockholders_Equity_Details

Stockholder's Equity (Details) (USD $)	1 Months Ended	12 Months Ended					1 Months Ended
	Mar. 30, 2009	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Mar. 30, 2012	Apr. 24, 2009	Mar. 28, 2014
	Mar. 30, 2009	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Mar. 30, 2012	Apr. 24, 2009	Subsequent Event [Member]
Stockholders Equity Note [Line Items]	'	'	'	'	'	'	'
REIT annual distribution, percent of taxable income	'	90.00%	'	'	'	'	'
Minimum number of shares issued in offering required to trigger distribution payments	500,000	'	'	'	'	'	'
Distribution on per day basis	$0.00	'	'	'	'	'	$0.00
Number of days used to calculate daily amount of distribution	'365 days	'	'	'	'	'	'365 days
Annualized rate of dividend	6.50%	'	'	'	'	'	6.50%
Share price	$10	'	'	'	'	'	'
Distributions declared	'	$4,050,000	$3,268,000	$2,587,000	'	'	'
Common stock authorized and reserved for issuance under plan	'	'	'	'	75,000	75,000	'

Noncontrolling_Interests_Detai

Noncontrolling Interests (Details) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Noncontrolling Interest [Line Items]	'	'	'
Limited partner units issued	2,000	2,000	'
LVP Metairie JV, LLC [Member]	'	'	'
Noncontrolling Interest [Line Items]	'	'	'
Cumulative distribution paid	$175	$306	$39
Lightstone SLP II, LLC [Member]	'	'	'
Noncontrolling Interest [Line Items]	'	'	'
Subordinated profits interests units	64	50	'

Related_Party_Transactions_Agr

Related Party Transactions (Agreements) (Details) (USD $)	12 Months Ended	67 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2013
Related Party Transaction [Line Items]	'	'
Acquisition fees received by the advisor as percentage of acquisition price	0.95%	0.95%
Anticipated acquisition expenses, as a percentage of the property's purchase price	0.45%	0.45%
Maximum percentage of gross contract purchase price allocated to acquisition fees and expenses	0.50%	0.50%
Contingent acquisition fee and expense reimbursement	11,300	'
Contingent payment, permanent long-term leverage ratio requirement	75.00%	'
Maximum percentage of gross revenues allocated to management fees for residential, hospitality and retail properties	5.00%	5.00%
Maximum percentage of gross revenues allocated to management fees for office and industrial properties	4.50%	4.50%
Percentage of average invested assets allocated to asset management fees	0.95%	0.95%
Asset management fees, payout terms	'payable quarterly in an amount equal to 0.2375 of 1% of average invested assets as of the last day of the immediately preceding quarter	'
Minimum percentage of other operating expenses required to be reimbursed	2.00%	2.00%
Minimum percentage of net income required to be reimbursed	25.00%	25.00%
Scenario, Forecast [Member]	'	'
Related Party Transaction [Line Items]	'	'
Fees and commissions	30,000	'
Selling Commission [Member]	'	'
Related Party Transaction [Line Items]	'	'
Maximum percentage of gross offering proceeds paid to the dealer manager.	7.00%	7.00%
Fees and commissions	'	4,900
Contingent payment, number of shares sold requirement	30,000,000	'
Selling Commission [Member] \| Scenario, Forecast [Member]	'	'
Related Party Transaction [Line Items]	'	'
Fees and commissions	21,000	'
Dealer Management Fee [Member]	'	'
Related Party Transaction [Line Items]	'	'
Maximum percentage of gross offering proceeds paid to the dealer manager.	3.00%	3.00%
Fees and commissions	'	2,400
Contingent payment, number of shares sold requirement	30,000,000	'
Dealer Management Fee [Member] \| Scenario, Forecast [Member]	'	'
Related Party Transaction [Line Items]	'	'
Fees and commissions	9,000	'

Related_Party_Transactions_Nar

Related Party Transactions (Narrative) (Details) (USD $)	12 Months Ended
Related Party Transactions (Narrative) (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Related Party Transaction [Line Items]	'	'	'
Percentage of average invested assets allocated to asset management fees	0.95%	'	'
Asset management fees waived	$400,000	'	'
Payments for agency fees	$106,000	$32,000	$0
Brownmill, LLC [Member]	'	'	'
Related Party Transaction [Line Items]	'	'	'
Ownership interest	48.60%	'	'
Lightstone SLP II, LLC [Member]	'	'	'
Related Party Transaction [Line Items]	'	'	'
Distributions, annualized rate of return	7.00%	'	'

Related_Party_Transactions_Dis

Related Party Transactions (Distributions) (Details) (USD $)	Mar. 30, 2009	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
		Operating Stage Distribution, 7% Stockholder Return Threshold [Member]	Operating Stage Distribution, 12% Stockholder Return Threshold [Member]	Operating Stage Distribution, 12% Stockholder Return Threshold [Member]	Operating Stage Distribution, 12% Stockholder Return Threshold [Member]	Operating Stage Distribution, In Excess of 12% Stockholder Returns Threshold [Member]	Operating Stage Distribution, In Excess of 12% Stockholder Returns Threshold [Member]	Operating Stage Distribution, In Excess of 12% Stockholder Returns Threshold [Member]
				Stockholder [Member]	Lightstone SLP II, LLC [Member]		Stockholder [Member]	Lightstone SLP II, LLC [Member]
Related Party Transaction [Line Items]	'	'	'	'	'	'	'	'
Stockholders' return threshold, percent	'	7.00%	7.00%	'	'	7.00%	'	'
Distribution due, cumulative rate of return	'	7.00%	12.00%	'	'	'	'	'
Share price	$10	$10	'	'	'	'	'	'
Percent of additional distributions payable to related party	'	'	'	70.00%	30.00%	'	60.00%	40.00%

Related_Party_Transactions_Amo

Related Party Transactions (Amount Recorded in Pursuant to Related Party Arrangment) (Details) (Related Party [Member], USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Related Party [Member]	'	'	'
Related Party Transaction [Line Items]	'	'	'
Acquisition fees	$102	$85	$141
Asset management fees	114	346	268
Development fees	78	'	'
Total	$294	$431	$409

Quarterly_Financial_Data_Detai

Quarterly Financial Data (Details) (USD $)

3 Months Ended

12 Months Ended

In Thousands, except Per Share data, unless otherwise specified

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Quarterly Financial Information [Line Items]

Total revenue

$3,335

$4,092

$3,308

$2,323

$1,917

$2,116

$952

$957

$13,058

$5,942

$2,978

Operating (loss)/income

490

314

-289

-308

216

-96

541

-114

-569

Net income /(loss)

-238

202

1,535

-129

4,627

3,828

248

1,061

1,370

[1]

9,764

[2]

430

Less (income)/loss attributable to noncontrolling interest

-1

-66

-512

-13

-17

-40

-555

-28

Net income/(loss) applicable to Company's common shares

-222

201

1,469

-118

4,115

3,815

235

1,044

1,330

9,209

402

Net income/(loss) per common share, basic and diluted

($0.03)

$0.03

$0.25

($0.02)

$0.78

$0.74

$0.05

$0.22

$0.21

$1.84

$0.10

Bargain purchase gain

1,263

7,857

FFI Hotel [Member]

Quarterly Financial Information [Line Items]

Bargain purchase gain

4,300

TownePlace Suites Hotel [Member]

Quarterly Financial Information [Line Items]

Bargain purchase gain

3,500

Arkansas Hotel Portfolio [Member]

Quarterly Financial Information [Line Items]

Bargain purchase gain

$1,200

[1]

Net income for the year ended December 31, 2013 includes a bargain purchase gain of $1.2 million in the 2nd quarter of 2013 in connection with the purchase of the Arkansas Hotel Portfolio. (See Note 3)

[2]

Net income for the year ended December 31, 2012 includes a bargain purchase gain of $7.8 million which includes a bargain purchase gain recorded in the 4th quarter of 2012 of $4.3 million in connection with the purchase of the Fairfield Inn - East Rutherford and a bargain purchase gain recorded in the 3rd quarter of 2012 of $3.5 million in connection with the purchase of the SpringHill Suites - Peabody. (See Note 3)

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	1 Months Ended
	Mar. 30, 2009	Mar. 28, 2014
	Mar. 30, 2009	Subsequent Event [Member]
Subsequent Event [Line Items]	'	'
Distribution on per day basis	$0.00	$0.00
Number of days used to calculate daily amount of distribution	'365 days	'365 days
Face value of share	'	$10
Annualized rate of dividend	6.50%	6.50%
Distribution payment date	'	15-Apr-14
Record date	'	31-Mar-13

Schedule_III_Real_Estate_and_A1

Schedule III Real Estate and Accumulated Depreciation (Schedule of Real Estate and Accumulated Depreciatoin) (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	TownePlace Suites Hotel Harahan, LA [Member]	SpringHill Suites Hotel Peabody, MA [Member]	Fairfield Inn East Rutherford, NJ [Member]	TownePlace Suites Hotel Johnson, AR [Member]	TownePlace Suites Hotel Little Rock, AR [Member]
Initial Cost	'	'	'	'	'	'	'	'	'
Encumbrance	$24,260	'	'	'	$9,438	$8,097	'	$2,980	$3,745
Land	8,898	'	'	'	1,800	2,126	2,945	990	1,037
Buildings and Improvements	39,781	'	'	'	10,484	10,624	8,743	4,710	5,220
Net Costs Capitalized & Impairments Subsequent to Acquisition	8,078	'	'	'	1,860	2,473	3,710	'	35
Gross amount at which carried at end of period	'	'	'	'	'	'	'	'	'
Land and Improvements	8,942	'	'	'	1,800	2,160	2,945	990	1,047
Buildings and Improvements	47,815	'	'	'	12,344	13,063	12,453	4,710	5,245
Total	56,757	37,336	12,514	'	14,144	15,223	15,398	5,700	6,292
Accumulated Depreciation	($2,670)	($850)	($293)	'	($1,063)	($994)	($356)	($126)	($131)
Date Acquired	'	'	'	'	19-Jan-11	13-Jul-12	31-Dec-12	18-Jun-13	18-Jun-13

Schedule_III_Real_Estate_and_A2

Schedule III Real Estate and Accumulated Depreciation (Reconciliation of Total Real Estate Owned) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Schedule III Real Estate and Accumulated Depreciation [Abstract]	'	'	'
Balance at beginning of year	$37,336	$12,514	'
Acquisitions, at cost	10,694	16,581	12,284
Acquisitions, bargain purchase gain	1,263	7,857	'
Improvements	7,464	384	230
Balance at end of year	$56,757	$37,336	$12,514

Schedule_III_Real_Estate_and_A3

Schedule III Real Estate and Accumulated Depreciation (Reconciliation of Accumulated Depreciation) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Schedule III Real Estate and Accumulated Depreciation [Abstract]	'	'	'
Balance at beginning of year	$850	$293	'
Depreciation expense	1,820	557	293
Balance at end of year	$2,670	$850	$293

Schedule_III_Real_Estate_and_A4

Schedule III Real Estate and Accumulated Depreciation (Summary of Estimated Useful Lives) (Details)	12 Months Ended
	Dec. 31, 2013
Buildings and improvements [Member] \| Minimum [Member]	'
Property, Plant and Equipment [Line Items]	'
Estimated useful lives	'15 years
Buildings and improvements [Member] \| Maximum [Member]	'
Property, Plant and Equipment [Line Items]	'
Estimated useful lives	'39 years
Tenant improvements and equipment [Member] \| Minimum [Member]	'
Property, Plant and Equipment [Line Items]	'
Estimated useful lives	'5 years
Tenant improvements and equipment [Member] \| Maximum [Member]	'
Property, Plant and Equipment [Line Items]	'
Estimated useful lives	'10 years