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): December 1, 2022

 

LANDA APP 3 LLC

(Exact name of issuer as specified in its charter)

 

Delaware   87-2881696
(State or other jurisdiction of
incorporation or organization)

 

 

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

 

6 W. 18th Street

New York, NY 10011 

(Full mailing address of principal executive offices)

 

646-905-0931

(Issuer's telephone number, including area code)

 

Membership Interests:
 
Landa App 3 LLC - 1363 Hancock Street Brooklyn NY LLC   Landa App 3 LLC - 24 Ditmars Street Brooklyn NY LLC
Landa App 3 LLC - 6696 Mableton Parkway SE Mableton GA LLC   Landa App 3 LLC - 996 Greenwood Avenue NE Atlanta GA LLC
Landa App 3 LLC - 368 Irwin Street NE Atlanta GA LLC   Landa App 3 LLC - 132 Cornelia Street Brooklyn NY LLC

 

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

 

 

 

  

 

  

Item 9. Other Events

 

Distribution Declaration

 

On December 1, 2022, Landa Holdings, Inc. (the "Manager"), as manager to each of the following series (each a "Series" and collectively the "Series") of the Company, declared and paid a cash distribution (the "Distribution") for such Series for the month of November 2022 (the “Distribution Period”), in the amount set forth in the table below.

 

For Shares purchased during the Distribution Period, holders of shares in each Series ("Shares") will be eligible to receive distributions (rounded) calculated on a pro-rata basis, based on the number of days in the applicable Distribution Period that such holder owned such Shares.

 

Series  Cash
Available for
Distribution		   Distribution
per Share (1)		 
Landa App 3 LLC - 1363 Hancock Street Brooklyn NY LLC  $9096.19   $0.287 
Landa App 3 LLC - 24 Ditmars Street Brooklyn NY LLC  $8755.87   $0.208 
Landa App 3 LLC - 6696 Mableton Parkway SE Mableton GA LLC(2)  $2130.34   $0.021 
Landa App 3 LLC - 996 Greenwood Avenue NE Atlanta GA LLC  $667.47   $0.044 
Landa App 3 LLC - 132 Cornelia Street Brooklyn NY LLC  $7792.03   $0.196 
Landa App 3 LLC - 368 Irwin Street NE Atlanta GA LLC(2)  $2674.05   $0.0495 

 

(1) Distributions by each Series were made based on the total Shares outstanding as of November 30, 2022

 

(2) The tenant occupying this Property has not paid their rent, or has only paid a portion of their rent, for the month of November. The Manager, acting in its sole discretion, is using a portion of its Reserve (as defined in the Offering Circulars) to pay each of the holders of this Series’ Share a Distribution. 

 

(3) The Property underlying this Series is vacant. The Manager has determined that this Series does not have sufficient amounts (including any amounts in its Reserves) and will not be able to pay a Distribution to the holders of this Series’ Shares for this Distribution Period. This Property will not earn any income and the Manager will not earn its Management Fee until the Manager enters into a new Lease Agreement with a tenant for this Property.

 

For any additional information regarding the Shares discussed herein, shareholders should refer to the Offering Circulars, available on the SEC’s website at www.sec.gov

 

Further information detailing the calculation of cash available for distribution for each Series is available on the Landa Mobile App, which is available on iOS and Android devices.

 

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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: December 7, 2022 LANDA APP 3 LLC
     
  By: Landa Holdings, Inc.,
    its Manager
     
  By: /s/ Yishai Cohen
  Name:  Yishai Cohen
  Title: Chairman, Chief Executive Officer, and
President

 

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Exhibit A

 

Master Series Table

 

  Series  Offering
Status		  Qualification
Date		  Closing
Date		   Total
Number of
Shares
Sold(1)		   Total
Amount
Raised(1)
($)		   Monthly
Rental
Income(2)
($)		   Monthly
Property
Tax
($)		   Monthly
Insurance
Expense
($)		   Monthly
Management
Fee*		 
1.  Landa Series 132 Cornelia Street  open  6/28/2022         -    39,702    754,735.02    9,002.50    491.00    269.35    5.00%
2.  Landa Series 1363 Hancock Street (5)  open  6/28/2022   -    31,719    868,149.03    12,800.00    1,045.00    570.00    5.00%
3.  Landa Series 24 Ditmars Street  open  6/28/2022   -    42,106    848,014.84    10,475.00    362.00    289.00    5.00%
4.  Landa Series 368 Irwin Street NE  open  6/28/2022   -    54,064    647,146.08    8,671.25    1,073.00    212.33    8.00%
5.  Landa Series 6696 Mableton Parkway  open  6/28/2022   -    100,000    505,496.67    3,980.00    332.99    188.27    8.00%
6.  Landa Seires 996 Greenwood Ave NE (4) (5)  open  6/28/2022   -    15,166    385,519.72    4,155.69    1,968.76    1,187.00    8.00%

 

*The Monthly Management Fee payable by each Series is expected to equal eight percent (8%) of the Gross Monthly Rent.

 

(1)Reflected as of up to two (2) business days prior to the date of this Offering Circular. Each Series is offering up to a maximum of 100,000 Shares.

 

(2)The Monthly Rental Income amount reflects the aggregate monthly rental payment payable under the lease agreements or expected monthly rental amounts for apartment units included in the Property, assuming a 100% occupancy rate for the Property, determined as of the date of this Offering Circular. See “Description of the Properties” for more information.

 

(3)Taxes on this Property may be subject to review and adjustment on a semi-annual basis.

 

(4)This Property has one or more apartment units that are currently vacant. This Property may earn less income, or may not earn any income at all, and the Manager will not earn its Management Fee on such unleased apartment units until the Manager enters into a new lease agreement with a tenant for such units.

 

(5)As of the date of this report, the tenant is still occupying the Properties underlying this Series and the Manager has commenced the process to remove these tenants. Once vacant, this Series will not earn any income and the Manager will not earn its Management Fee on Property until the Manager enters into a new lease agreement with a tenant for the Property.

 

 

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