0001213900-21-048887.txt : 20210920 0001213900-21-048887.hdr.sgml : 20210920 20210920172145 ACCESSION NUMBER: 0001213900-21-048887 CONFORMED SUBMISSION TYPE: 1-A/A PUBLIC DOCUMENT COUNT: 4 FILED AS OF DATE: 20210920 DATE AS OF CHANGE: 20210920 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Landa App 2 LLC CENTRAL INDEX KEY: 0001875877 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 871767314 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 1-A/A SEC ACT: 1933 Act SEC FILE NUMBER: 024-11648 FILM NUMBER: 211264084 BUSINESS ADDRESS: STREET 1: 6 W. 18TH STREET CITY: NEW YORK STATE: NY ZIP: 10011 BUSINESS PHONE: 646-905-0931 MAIL ADDRESS: STREET 1: 6 W. 18TH STREET CITY: NEW YORK STATE: NY ZIP: 10011 1-A/A 1 primary_doc.xml 1-A/A LIVE 0001875877 XXXXXXXX 024-11648 true Landa App 2 LLC DE 2021 0001875877 6510 87-1767314 0 0 6 W. 18th Street New York NY 10011 646-905-0931 Yishai Cohen Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Marcum LLP N/A 0 000000000 N/A N/A 0 000000000 N/A N/A 0 000000000 N/A true true Tier2 Audited Equity (common or preferred stock) Y Y N Y N N 80000 0 1.0000 661513.00 0.00 0.00 0.00 661513.00 Dalmore Group, LLC 0.00 Marcum LLP 0.00 Goodwin Procter LLP 0.00 136352 * The Company is offering Shares in 8 separate Series. See Part II for a description for the price per Share for each Series offering. ** Audit and Legal Fees and all fees paid to the Broker Dealer are paid for by the manager, Landa Holdings, Inc. true AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC PR true PART II AND III 2 ea147688-1aa1_landaapp2.htm OFFERING CIRCULAR

 

EXPLANATORY NOTE

 

Landa App 2 LLC has prepared this Pre-Qualification Amendment No. 1 to its Form 1-A filed on September 17, 2021 solely for the purpose of filing Exhibit 99.1 pursuant to Rule 252(d). 

 

PART III—EXHIBITS

 

Index to Exhibits

 

Exhibit No.   Exhibit Description
2.1   Certificate of Formation of Landa App 2 LLC*
2.2   Limited Liability Company Operating Agreement of Landa App 2 LLC*
2.3   Certificate of Registered Series of a Limited Liability Company for Landa App 2 LLC - 2174 Scarbrough Road Stone Mountain GA LLC*
2.4   Certificate of Registered Series of a Limited Liability Company for Landa App 2 LLC - 153 Spring Valley Circle Stockbridge GA LLC*
2.5   Certificate of Registered Series of a Limited Liability Company for Landa App 2 LLC - 126 Wildwood Road Stockbridge GA LLC*
2.6   Certificate of Registered Series of a Limited Liability Company for Landa App 2 LLC - 137 Spring Valley Circle Stockbridge GA LLC*
2.7   Certificate of Registered Series of a Limited Liability Company for Landa App 2 LLC - 3192 Lake Monroe Road Douglasville GA LLC*
2.8   Certificate of Registered Series of a Limited Liability Company for Landa App 2 LLC - 45 Robertford Drive Covington GA LLC*
2.9   Certificate of Registered Series of a Limited Liability Company for Landa App 2 LLC -303 Kellys Walk Locust Grove GA LLC*
2.10   Certificate of Registered Series of a Limited Liability Company for Landa App 2 LLC - 4085 Springvale Way McDonough GA LLC*
3.1   Series Operating Agreement of Landa App 2 LLC – 2174 Scarbrough Road Stone Mountain GA LLC*
3.2   Series Operating Agreement of Landa App 2 LLC - 153 Spring Valley Circle Stockbridge GA LLC*
3.3   Series Operating Agreement of Landa App 2 LLC - 126 Wildwood Road Stockbridge GA LLC*
3.4   Series Operating Agreement of Landa App 2 LLC - 137 Spring Valley Circle Stockbridge GA LLC*
3.5   Series Operating Agreement of Landa App 2 LLC - 3192 Lake Monroe Road Douglasville GA LLC*
3.6   Series Operating Agreement of Landa App 2 LLC - 45 Robertford Drive Covington GA LLC*
3.7   Series Operating Agreement of Landa App 2 LLC - 303 Kellys Walk Locust Grove GA LLC*
3.8   Series Operating Agreement of Landa App 2 LLC - 4085 Springvale Way McDonough GA LLC*

 

 

 

 

4.1   Form of Subscription Agreement*
6.1   Form of Management Agreement*
6.2  

Broker Dealer Services Agreement, dated July 20, 2021, by and between Dalmore Group, LLC and Landa App 2 LLC*

6.3   Landa Mobile App License Agreement, dated July 29, 2021, by and between Landa Holdings, Inc., Landa App 2 LLC, and each of the Series listed thereto*
6.4   Promissory Note, by and between Landa Holdings, Inc. and Landa App 2 LLC - 2174 Scarbrough Road Stone Mountain GA LLC, dated July 28, 2021*
6.5   Promissory Note, by and between Landa Holdings, Inc. and Landa App 2 LLC - 153 Spring Valley Circle Stockbridge GA LLC, dated July 28, 2021*
6.6   Promissory Note, by and between Landa Holdings, Inc. and Landa App 2 LLC - 126 Wildwood Road Stockbridge GA LLC, dated July 28, 2021*
6.7   Promissory Note, by and between Landa Holdings, Inc. and Landa App 2 LLC - 137 Spring Valley Circle Stockbridge GA LLC, dated July 28, 2021*
6.8   Promissory Note, by and between Landa Holdings, Inc. and Landa App 2 LLC - 3192 Lake Monroe Road Douglasville GA LLC, dated July 28, 2021*
6.9   Promissory Note, by and between Landa Holdings, Inc. and Landa App 2 LLC - 45 Robertford Drive Covington GA LLC, dated July 28, 2021*
6.10   Promissory Note, by and between Landa Holdings, Inc. and Landa App 2 LLC - 303 Kellys Walk Locust Grove GA LLC, dated September 7, 2021*
6.11   Promissory Note, by and between Landa Holdings, Inc. and Landa App 2 LLC - 4085 Springvale Way McDonough GA LLC, dated September 7, 2021*
6.12   Lease Agreement for 2174 Scarbrough Road, Stone Mountain, GA, 30088*
6.13   Lease Agreement for 153 Spring Valley Circle, Stockbridge, GA, 30281*
6.14   Lease Agreement for 126 Wildwood Road, Stockbridge, GA, 30281*
6.15   Lease Agreement for 137 Spring Valley Circle, Stockbridge, GA, 30281*
6.16   Lease Agreement for 3192 Lake Monroe Road, Douglasville, GA, 30135*
6.17   Lease Agreement for 45 Robertford Drive, Covington, GA, 30016*
6.18   Lease Agreement for 303 Kellys Walk, Locust Grove, GA 30248*
6.19   Lease Agreement for 4085 Springvale Way, McDonough, GA 30252*
6.20   PPEX ATS Company Agreement, by and among North Capital Private Securities Corporation, Landa App 2 LLC and each of the Series set forth therein*
11.1   Consent of Marcum LLP*
11.2   Consent of Goodwin Procter LLP (included in Exhibit 12.1)*
12.1   Opinion of Goodwin Procter LLP*
99.1   Correspondence by or on behalf of the issuer previously submitted pursuant to Rule 252(d)**

 

* Previously filed
** Filed herewith

  

 

 

 

SIGNATURES

 

Pursuant to the requirements of Regulation A, Landa App 2 LLC certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form 1-A and has duly caused this offering statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on September 20, 2021.

 

  LANDA APP 2 LLC
   
  Signed by Landa Holdings, Inc.,
as Manager of LANDA APP 2 LLC
     
  By:

/s/ Yishai Cohen

    Name:  Yishai Cohen
    Title: Chairman, Chief Executive Officer and President

 

This offering statement has been signed by the following persons in the capacities and on the dates indicated.

 

Signature   Title   Date
         

 

/s/ Yishai Cohen

  Chairman, Chief Executive Officer and   September 20, 2021
Yishai Cohen  

President of Landa Holdings, Inc.

(Principal Executive Officer)

   
         

 

/s/ Gregory Crimmins

  Head of Finance of Landa Holdings, Inc.   September 20, 2021
Gregory Crimmins   (Principal Financial Officer and Principal Accounting Officer)    
         
LANDA HOLDINGS, INC.        
         
/s/ Yishai Cohen   Manager   September 20, 2021
Yishai Cohen        
Chief Executive Officer and President        

 

 

 

 

ADD EXHB 3 ea147688ex99-1_landaapp2.htm CORRESPONDENCE BY OR ON BEHALF OF THE ISSUER PREVIOUSLY SUBMITTED PURSUANT TO RULE 252(D)

 

 

Goodwin Procter LLP

The New York Times Building
620 Eighth Avenue
New York, NY 10018

 

goodwinlaw.com

+1 212 813 8800

 

September 17, 2021

 

VIA EDGAR AND OVERNIGHT MAIL

 

U.S. Securities and Exchange Commission

Division of Corporation Finance

Office of Real Estate & Construction

100 F Street, N.E.

Washington, D.C. 20549

 

Re: Landa App 2 LLC
  Draft Offering Statement on Form 1-A
  Submitted August 10, 2021
  CIK No. 0001875877

 

Ladies and Gentlemen:

 

This letter is submitted on behalf of Landa App 2 LLC (the “Company,” “we,” or “our”) in response to comments from the staff of the Division of Corporation Finance, Office of Real Estate & Construction (the “Staff”) of the Securities and Exchange Commission (the “Commission”) in a letter dated September 1, 2021 (the “Comment Letter”) regarding the Company’s Draft Offering Statement on Form 1-A submitted to the Staff on August 10, 2021, relating to an offering of membership interests in certain series registered under the Company (each, a “Series”). The Company is concurrently filing an Offering Statement on Form 1-A (the “Offering Statement”), which includes changes in response to the Staff’s comments as well as other revisions.

 

For your convenience, the Staff’s numbered comments set forth in the Comment Letter have been reproduced in italics herein with our response immediately following.

 

Draft Offering Statement on Form 1-A submitted August 10, 2021

 

General

 

1. We note that the term of at least one series offering will commence within two calendar days after qualification. To comply with Rule 251(d)(3)(i)(F) of Regulation A, you must commence the offering of each series you qualify within two calendar days of qualification. Commencing the offering of some of the qualified series while delaying the offering of others results in an impermissible delayed offering of the delayed series under Rule 251(d)(3)(i)(F). Please confirm that you will commence the offering of each series you qualify within two calendar days of qualification.

 

Response to Comment No. 1

 

The Company acknowledges the Staff’s view that commencing the offering of some of the qualified Series while delaying the offering of others results in an impermissible delayed offering of the delayed Series under Rule 251(d)(3)(i)(F). Accordingly, the Company confirms that it will commence the offering of each Series it qualifies within two calendar days of qualification going forward. The Company respectfully reserves the right to revisit the applicability of Rule 251(d)(3)(i)(F) to this offering at a later time.

 

 

 

 

 

Division of Corporate Finance

September 17, 2021

Page 2

 

Series Offerings, page viii

 

2. You disclose that each Series was registered in Delaware in July 2021, that the title for each property underlying each Series is currently held by your affiliate, Landa Properties, and that Landa Properties will transfer title to the property to the applicable Series prior to the initial closing of sales of shares of the Series. Please tell us what consideration you gave to providing historical financial statements of each property for the period that they were owned by Landa Properties, and to providing pro forma financial statements reflecting your expected acquisition of such properties from Landa Properties. Refer to Part F/S of Form 1-A for financial statements requirements.

 

Response to Comment No. 2

 

In response to the Staff’s comment, we have updated the Financial Statements, as well as the accompanying notes to the Financial Statement, in the Offering Statement to include financial statements for the period in which title to each of the properties (each, a “Property”) underlying the applicable Series was owned by Landa Properties LLC (“Landa Properties”), the Company’s affiliate, as well as the pro forma financials as if each Property was acquired by its applicable Series on January 1, 2021.

 

Under Section 2330.8 of the Financial Reporting Manual, the Company is permitted to present unaudited financial statements for properties that were acquired with leasing histories greater than three months, but less than nine months. Prior to the acquisition by Landa Properties, each of these Properties were owner-occupied and were not operated as rental properties. Following the acquisition of the Properties by Landa Properties, Landa Holdings, Inc., as manager to Landa Properties, entered into lease agreements with tenants for such Properties. Title to each Property underlying the Series included in the Offering Statement is currently held by Landa Properties. We expect that Landa Properties will transfer title to each of the Properties to the applicable Series prior to the initial Closing of sales of Shares of the Series. As of the date of the Offering Statement, each Property has a rental history of more than three months, but less than nine months and the Company is hopeful that this offering can be qualified prior to the end of the nine-month period.

 

If you have any questions or would like further information concerning the Company’s responses to the Comment Letter, please do not hesitate to contact me at (212) 813-8842 or Yishai Cohen at (646) 905-0931.

 

  Sincerely,
   
  /s/ Mark Schonberger
  Mark Schonberger

  

cc: Via E-mail
Yishai Cohen, Chief Executive Officer and President
Neeraj Kumar, General Counsel
Gregory Crimmins, Head of Finance
    Landa Holdings, Inc.
     
Matthew Schoenfeld
Farnell Morisset
    Goodwin Procter LLP

 

 

 

 

 

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