Cuentas closes $5.05M property acquisition via 63%-owned joint venture Brooksville Development Partners

Cuentas Inc.

Cuentas closed on $5.05M property purchase via Brooksville Development Partners, LLC (63% owned by Cuentas).
Purchase funded by $2M cash previously escrowed by Cuentas and $3.05M mortgage from Republic Bank of Chicago.
Property acquired from Arden of Brooksville, LLC; ownership held by the LLC entity, not the members individually.
Cuentas holds 63% Class B membership interest; other members hold 30% and 7%.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.7

Cuentas Inc. entered into Operating Agreement with Brooksville Development DE, LLC and Brooksville FL Partners, LLC (effective 2023-04-13).

Action: entry
Counterparty: Brooksville Development DE, LLC and Brooksville FL Partners, LLC
Effective: 2023-04-13

Exact text from the filing

On April 28, 2023, Cuentas, Inc. (“Cuentas”) participated in the closing on the purchase of the property related to the previously executed Operating Agreement for Brooksville Development Partners, LLC (“Company”) dated April 13, 2023 which was entered into by Brooksville Development DE, LLC (the “Class A Member” with 30% Membership Interest), Cuentas Inc, (a “Class B Member” with 63% Membership Interest) and Brooksville FL Partners, LLC, (a “Class B Member” with 7% Membership Interest), collectively the “Members”.

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Cuentas Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-036388

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