RAWYS Landa APP LLC (GM)

Filed pursuant to Rule 253(g)(2)

File No. 024-11953

This Supplement No. 10, dated July 20, 2023 (which we refer to as “this supplement”), supplements, and should be read in conjunction with, the offering circular (the “Offering Circular”), dated March 28, 2023, of Landa App, LLC, a Delaware series limited liability company (which we refer to as “we,” “us,” “our” or “our company”), as supplemented. The purpose of this supplement is to update, correct and supersede certain information for the following Series (the “Updated Series”):

LANDA APP LLC

20 W. 22^nd Street

Suite 1411

New York, NY 10010 

(646) 905-0931

Landa.app

CURRENT AND PREVIOUS SERIES OFFERINGS 

Refinance Note, Title Transfer, and Property Insurance Expiration

The tables below (the “Update Tables”) show key information related to the Updated Series and its underlying Property. The information in the Update Tables supersedes any contrary previous information contained in the Master Series Table included in the Offering Circular, which can be found here; all other information in the Offering Circular is otherwise unchanged.

As previously disclosed in the Company’s Offering Circular, each Series is expected to pay down, or otherwise discharge, the outstanding balance of its Acquisition Note with (i) the proceeds received in exchange for a commercial promissory note bearing interest at current market rates to be issued by a third party lender (a “Refinance Lender”) after the qualification date of the offering statement of which the Offering Circular forms a part (a “Refinance Note”), and (ii) substantially all of the net proceeds from the Series Offering. Further, the Company filed Supplement #7 to its Offering Circular on June 26, 2023, which expressly amended the definition of “Refinance Lender” to include a third party lender or an affiliate of the Manager, a copy of which can be found here.

In furtherance of the above, on July 19, 2023, the Series listed below entered into a Refinance Note with Landa Financing LLC, an affiliate of the Series and its Manager, the terms of which are listed in the table below. The Refinance Note is secured by the Property underlying the respective Series and any other assets of the Series, and bears interest at a rate equal to Overnight SOFR + 3.5%.

The foregoing is a summary of the terms of the Refinance Note and does not purport to be a complete description of such terms. This summary is qualified in its entirety by reference to the Commercial Promissory Note, a copy of which is filed as Exhibit 6.1 to our Form 1-U, filed on July 20, 2023, which can be found here.

Additionally, on July 20, 2023, Landa Properties LLC (“Landa Properties”) transferred title (the “Transfer’) of the following property (“Property”) to the Series set forth in the table below. In connection with the Transfer, Landa Properties also assigned the applicable lease agreement for the Property to the Series.  

Lastly, the Offering Circular states that the Manager cannot ensure that property insurance will be adequate to cover actual losses or that such insurance will continue to be available at reasonable costs, if at all, which could inhibit a Series’ ability to finance or refinance the underlying Property and result in uninsured losses. In such instances, a Series may be required to provide other financial support, either through financial assurances or self-insurance to cover potential losses. A Series may not have adequate coverage for such losses. If a Property incurs a loss that is not fully insured, the value of the Series’ asset will be reduced by such uninsured loss, which would reduce the value of the investment.

Accordingly, and in connection with the paragraph above, the Manager has determined that carrying insurance for the following two Series is no longer reasonable or available at reasonable costs, and the property insurance policy for these two Series will expire effective August 24, 2023:

Landa APP (GM) (USOTC:RAWYS)
Historical Stock Chart
From Nov 2024 to Dec 2024

Landa APP (GM) (USOTC:RAWYS)
Historical Stock Chart
From Dec 2023 to Dec 2024