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): August 25, 2023

 

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.)

 

20 W. 22th Street

Suite 1411

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

 

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

 

 

 

 

 

Distribution Declaration

 

On September 1, 2023, 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  August 2023 (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 - 132 Cornelia Street Brooklyn NY LLC  $6,361.93   $0.101 
Landa App 3 LLC - 1363 Hancock Street Brooklyn NY LLC(6)  $6,092.04   $0.106 
Landa App 3 LLC - 24 Ditmars Street Brooklyn NY LLC  $0   $0 
Landa App 3 LLC - 368 Irwin Street NE Atlanta GA LLC(3) (5)  $0   $0 
Landa App 3 LLC - 6696 Mableton Parkway SE Mableton GA LLC(6)  $2,248.46   $0.022 
Landa App 3 LLC - 996 Greenwood Avenue NE Atlanta GA LLC(2) (4) (5)  $153.5   $0.007 

 



(1) Distributions by this Series were made based on the total Shares outstanding as of August 1, 2023.

(2) The tenant occupying Unit 11 is in breach of his Lease Agreement for failure to pay rent. The Manager is currently working with the tenant to vacate the unit.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.

(3) The tenant occupying this Property has not paid their rent, or has only paid a portion of their rent, for the month of August.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.

(4) This Property has one or more apartment units that are currently vacant.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.

(5) The tenant occupying Unit 4 is in breach of his Lease Agreement for failure to pay rent. The Manager is currently working with the tenant to vacate the unit.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.

(6) The tenant occupying this Property has not paid their rent, or has only paid a portion of their rent, for the month of August.


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.


Resignation of Board Member of the Manager

Effective August 25, 2023, Amit Assaraf resigned from the Board of the Manager, which directs the Company's operations.

 

1

 

 

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: September 13, 2023 LANDA APP 3 LLC
     
  By: Landa Holdings, Inc.,
    its Manager
     
  By: /s/ Yishai Cohen
  Name:  Yishai Cohen
  Title: Chairman, Chief Executive Officer, and
President

 

 

2

 

 

Exhibit A

 

Master Series Table

 

   Series  Offering
Status		  Qualification
Date		  Closing
Date		   Total
Number of
Shares
Sold		   Total
Amount
Raised($)(1)(2)		   Monthly
Rental
Income($)(3)		   Monthly
Property
Tax($)(4)		   Monthly
Insurance
Expense($)		   Monthly
Management
Fee		 
1.  Landa Series 132 Cornelia Street (5)  open  06/28/2022  -    

63,346

    

1,204,439.31

    9,212.62    86.28    269.35    5%
2.  Landa Series 1363 Hancock Street (5)(9)  open  06/28/2022  -    

58,039

    

1,588,294.11

    15,485    1,103.68    570    5%
3.  Landa Series 24 Ditmars Street (5)  open  06/28/2022  -    

71,571

    

1,441,745.55

    10,645    438.18    289    5%
4.  Landa Series 368 Irwin Street Northeast (6)(7) (9)  open  06/28/2022  -    

96,180

    

1,151,228.43

    8,700    1,073    212.33    8%
5.  Landa Series 6696 Mableton Parkway SE (6)(9)  closed  06/28/2022  12/15/2022    

100,000

    

505,527

    4,275    516.27    188.27    8%
6.  Landa Series 996 Greenwood Avenue Northeast (6)(7) (8) (10)  open  06/28/2022  -    

22,408

    

569,644.97

    4,155.69    0    1,187    8%

 

(1) All 100,000 Shares of this Series have been subscribed for and the Company is in the process of closing on the Series' offering with the investors.

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

(3) The Monthly Rental Income amount reflects the monthly rental payment due under the applicable lease agreement for the Property.

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

(5) The Monthly Management Fee payable by each Series is expected to equal five percent (5%) of the Gross Monthly Rent.

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

(7) The tenant occupying Unit 4 is in breach of his Lease Agreement for failure to pay rent. The Manager is currently working with the tenant to vacate the unit.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.

(8) This Property has one or more apartment units that are currently vacant.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.

(9) The tenant occupying this Property has not paid their rent, or has only paid a portion of their rent, for the month of August.

(10) The tenant occupying Unit 11 is in breach of his Lease Agreement for failure to pay rent. The Manager is currently working with the tenant to vacate the unit.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.