1-U 1 landaapp3llcdividends720241.htm

 

 

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): July 1, 2024

 

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. 22nd Street

New York, NY 10010 

(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 July 1, 2024, 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  June 2024 (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   $ 2,312.5     $ 0.031  
Landa App 3 LLC - 1363 Hancock Street Brooklyn NY LLC (2) (5)   $ 2,430.62     $ 0.035  
Landa App 3 LLC - 24 Ditmars Street Brooklyn NY LLC (3)   $ 0     $ 0  
Landa App 3 LLC - 368 Irwin Street NE Atlanta GA LLC (4) (5) (6)   $ 500     $ 0.005  
Landa App 3 LLC - 6696 Mableton Parkway SE Mableton GA LLC   $ 0     $ 0  
Landa App 3 LLC - 996 Greenwood Avenue NE Atlanta GA LLC   $ 0     $ 0  

 



(1) Distributions by this Series were made based on the total Shares outstanding as of July 1, 2024.

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

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

(5) 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.

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


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.

 

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: July 5, 2024 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($)(1)
    Monthly
Rental
Income($)(2)
    Monthly
Management
Fee (%)
 
1.   Landa Series 132 Cornelia Street Brooklyn NY LLC (3)   open   06/28/2022   07/02/2024      

75,656

     

1,438,497.46

      9,382.62       5 %
2.   Landa Series 1363 Hancock Street Brooklyn NY LLC (3)   open   06/28/2022   07/02/2024      

69,134

     

1,891,919.66

      14,722.5       5 %
3.   Landa Series 24 Ditmars Street Brooklyn NY LLC (3)   open   06/28/2022   07/02/2024      

86,294

     

1,738,329.64

      14,215       5 %
4.   Landa Series 368 Irwin Street NE Atlanta GA LLC (4)   closed   06/28/2022   11/13/2023      

100,000

     

1,196,952

      2,000       8 %
5.   Landa Series 6696 Mableton Parkway SE Mableton GA LLC (4)   closed   06/28/2022   12/15/2022      

100,000

     

505,527

      4,488.75       8 %
6.   Landa Series 996 Greenwood Avenue NE Atlanta GA LLC (4)   open   06/28/2022   07/02/2024      

25,360

     

644,689.24

      5,850       8 %

 

(1) 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

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

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

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