Landa Financing LLC
11/15/2024 | Press release | Distributed by Public on 11/15/2024 13:35
Current Report under Regulation A Form 1 U
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): November 15, 2024
Landa Financing LLC
(Exact name of issuer as specified in its charter)
| Delaware | 92-2028006 | |
|
(State or other jurisdiction of incorporation or organization) |
(I.R.S. Employer Identification No.) |
20 W. 22nd Street
Suite 1411
New York, NY 10010
(Address of principal executive offices)
646-905-0931
(Issuer's telephone number, including area code)
Item 9. Other Events
The following updates certain information found in the offering circular (the "Offering Circular") of Landa Financing LLC (the "Company") filed July 15, 2024, which can be found here.
Loan Sell Agreement
On November 11, 2024, the Company entered into an Agreement with McCormick 101, LLC for the sale of the following loans:
| Borrower | Loan Start Date | Loan End Date | Term (in months) | Interest Rate | Loan Amount | |||||||||||
| Landa App LLC - 157 A WELLS ROAD JENKINSBURG GEORGIA LLC | 2023-07-17 | 2025-07-17 | 24 | SOFR + 3.5% | $ | 132,972 | ||||||||||
| Landa App LLC - 8697 ASHLEY WAY DOUGLASVILLE GEORGIA LLC | 2024-03-15 | 2026-03-14 | 24 | SOFR + 3.5% | $ | 131,075 | ||||||||||
| Landa App LLC - 843 TRAMORE DRIVE STOCKBRIDGE GEORGIA LLC | 2023-10-26 | 2025-10-26 | 24 | SOFR + 3.5% | $ | 117,293 | ||||||||||
| Landa App LLC - 8691 ASHLEY WAY DOUGLASVILLE GEORGIA LLC | 2023-11-29 | 2025-11-29 | 24 | SOFR + 3.5% | $ | 89,133 | ||||||||||
| Landa App LLC - 107 Oakwood Circle Griffin GA LLC | 2023-06-08 | 2025-06-09 | 24 | SOFR + 2% | $ | 119,269 | ||||||||||
| Landa App LLC - 8667 ASHLEY WAY DOUGLASVILLE GEORGIA LLC | 2023-12-19 | 2025-12-19 | 24 | SOFR + 3.5% | $ | 82,042 |
| The total proceeds from the sale are $604,605.60 |
For any additional information regarding the Shares discussed herein, shareholders should refer to the Offering Circular. Further information detailing the calculation of cash available for distribution for the Company is available on the Landa Mobile App, which is available on iOS and Android devices, and/or the Landa website (www.landa.app).
1
EXHIBITS
The following exhibits are filed herewith:
| Exhibit No. | Description | |
| 6.1 | Loan Sale Agreement between Landa Financing LLC and McCormick 101, LLC |
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: November 15, 2024 | ||
| LANDA FINANCING LLC | ||
| By: | Landa Management LLC, | |
| as manager | ||
| By: |
Landa Holdings, Inc., as member manager |
|
| By: | /s/ Yishai Cohen | |
| Name: | Yishai Cohen | |
| Title: | Chairman, Chief Executive Officer, and President |