UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 1-U

 

CURRENT REPORT PURSUANT TO REGULATION A

 

Date of Report (Date of earliest event reported): March 11, 2022

 

LANDA APP LLC

(Exact name of issuer as specified in its charter)

 

Delaware   85-1099443
(State or other jurisdiction of
incorporation or organization)

 

 

(I.R.S. Employer
Identification No.)

 

6 W. 18th Street

New York, NY 10011

 

(Address of principal executive offices)

 

646-905-0931

(Issuer’s telephone number, including area code)

 

Membership Interests:

 

Landa App LLC - 1394 Oakview Circle Forest Park GA LLC   Landa App LLC - 7349 Exeter Court Riverdale GA LLC
Landa App LLC - 1701 Summerwoods Lane Griffin GA LLC   Landa App LLC - 8645 Embrey Drive Jonesboro GA LLC
Landa App LLC - 1741 Park Lane Griffin GA LLC   Landa App LLC - 8780 Churchill Place Jonesboro GA LLC
Landa App LLC - 1703 Summerwoods Lane Griffin GA LLC   Landa App LLC - 8796 Parliament Place Jonesboro GA LLC
Landa App LLC - 1712 Summerwoods Lane Griffin GA LLC   Landa App LLC - 8641 Ashley Way Douglasville GA LLC
Landa App LLC - 1743 Summerwoods Lane Griffin GA LLC   Landa App LLC - 8651 Ashley Way Douglasville GA LLC
Landa App LLC - 1750 Summerwoods Lane Griffin GA LLC   Landa App LLC - 8652 Ashley Way Douglasville GA LLC
Landa App LLC - 4267 High Park Lane East Point GA LLC   Landa App LLC - 8653 Ashley Way Douglasville GA LLC
Landa App LLC - 4474 Highwood Park Drive East Point GA LLC   Landa App LLC - 8654 Ashley Way Douglasville GA LLC
Landa App LLC - 8569 Creekwood Way Jonesboro GA LLC   Landa App LLC - 8655 Ashley Way Douglasville GA LLC
Landa App LLC - 9439 Lakeview Road Union City GA LLC   Landa App LLC - 8659 Ashley Way Douglasville GA LLC
Landa App LLC - 10167 Port Royal Court Jonesboro GA LLC   Landa App LLC - 8662 Ashley Way Douglasville GA LLC
Landa App LLC - 1246 Elgin Way Riverdale GA LLC   Landa App LLC - 8668 Ashley Way Douglasville GA LLC
Landa App LLC - 1910 Grove Way Hampton GA LLC   Landa App LLC - 8670 Ashley Way Douglasville GA LLC
Landa App LLC - 593 Country Lane Jonesboro GA LLC   Landa App LLC - 8674 Ashley Way Douglasville GA LLC
Landa App LLC - 6436 Stone Terrace Morrow GA LLC   Landa App LLC - 8675 Ashley Way Douglasville GA LLC
Landa App LLC - 6440 Woodstone Terrace Morrow GA LLC   Landa App LLC - 8677 Ashley Way Douglasville GA LLC
Landa App LLC - 6848 Sandy Creek Drive Riverdale GA LLC   Landa App LLC - 8678 Ashley Way Douglasville GA LLC
Landa App LLC - 687 Utoy Court Jonesboro GA LLC   Landa App LLC - 8679 Ashley Way Douglasville GA LLC
Landa App LLC - 729 Winter Lane Jonesboro GA LLC   Landa App LLC - 8683 Ashley Way Douglasville GA LLC

 

(Title of each class of securities issued pursuant to Regulation A)

 

 

 

 

 

 

Item 9. Other Events

 

On March 11, 2022, Landa Holdings, Inc., as manager (the "Manager") to each of Landa App LLC - 1701 Summerwoods Lane Griffin GA LLC (“Landa Series 1701 Summerwoods Lane”) and Landa App LLC - 1741 Park Lane Griffin GA LLC (“Series 1741 Park Lane,” and together with Landa Series 1701 Summerwoods Lane, the “Series”), acting in its sole discretion, determined that it was in the best interest of each Series to sell the property underlying each of these Series (collectively, the “Properties”) to Landa Properties LLC, which is an affiliate of the Manager, and dissolve each of these Series. The sale of each of the Properties and the dissolution of the Series are expected to be consummated on or around April 15, 2022. This summary is qualified in its entirety by reference to the Letter to Investors, dated March 11, 2022, which is filed as Exhibit 7.1 to this report.

 

1

 

 

EXHIBITS

 

The following exhibit is filed herewith:

 

Exhibit No.   Description
7.1   Letter to Investors dated March 11, 2022

 

2

 

 

SIGNATURE

 

Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: March 11, 2022 LANDA APP LLC
     
  By: Landa Holdings, Inc.,
    its Manager
     
  By: /s/ Yishai Cohen
  Name:  Yishai Cohen
  Title: Chairman, Chief Executive Officer, and
President

 

 

3

 

 

Exhibit 7.1

 

Hey all 

 

You are receiving this email because you invested in Landa Series 1701 Summerwoods Lane and/or Landa Series 1741 Park Lane.

 

We have decided to sell the property underlying Landa Series 1701 Summerwoods, located at 1701 Summerwoods Lane, Griffin, GA 30224, and the property underlying Landa Series 1741 Park Lane, located at 1741 Park Lane, Griffin, GA 30224, to Landa Properties LLC, which is an affiliate of our Manager, and distribute the sale proceeds to each of the series’ shareholders. In connection with the sales, we will also dissolve each of these series. We expect to execute the sale on or before April 15, 2022.

 

The purchase price will be based on a third-party independent broker price opinion (“BPO”). Pursuant to the applicable BPO, each property has appreciated in value. As a result, you will receive a gain on your investment which will be reported to you on your 2022 1099-DIV.

 

Neither Landa Holdings, Inc., Landa App LLC, Landa Series 1701 Summerwoods Lane, or Landa Series 1741 Park Lane, nor any of its affiliates will make any fee or revenue from the sale. 

 

Your share of the proceeds from the sale will be transferred to your Landa Account in an ACH transfer within five (5) business days following the date we complete the sale of the applicable property.

 

No action is required on your end.

 

See below for the calculation of your return.

   

Landa App Series LLC 1701 Summerwoods 

Series-Level Information

Purchase price: $159,000 

Mortgage: $52,703

Net Sale Proceeds: $106,297

 

Per Share Information

Your purchase price: $4.2760 /per share

Proceeds: $10.6297 /per share

Final dividends paid: $0.1574 /per share

 

Landa App Series 1741 Park Lane

Series-Level Information

Purchase price: $180,000

Mortgage: $64,359

Net Sale Proceeds: $115,641

 

Per Share Information

Your purchase price: $5.2172

Proceeds: $11.5641 /per share

Final dividends paid: $0.3482 /per share

 

Cheers,

 

Landa Team