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): December 30, 2022
HAPPYNEST REIT, INC.
(Exact name of issuer as specified in its charter)
| Maryland | 82-4479116 | |
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
527 Primrose Lane
Superior, Colorado 80027
(Full mailing address of principal executive offices)
(800) 507-7345
(Issuer’s telephone number, including area code)
Title of each class of securities issued pursuant to Regulation A: Common Stock, par value $0.0001 per share.
| Item 9. | Other Events |
Asset Update
CPI Easthampton One LLC
On June 23, 2020, HNR Easthampton One LLC, a wholly owned subsidiary of HappyNest Operating Partnership L.P, our operating partnership, purchased a 13.548% tenancy in common interest in real property located in Easthampton, Massachusetts (the “Property”), through its wholly owned special purpose subsidiary, CPI East Hampton III, LLC d/b/a SPC East Hampton III LLC (“CPI East Hampton III”), for an aggregate investment amount of $250,000. which was the initial stated value of our equity interest in the Property. Details of this acquisition can be found here.
On December 30, 2022, the Property was sold for a sales price of approximately $6,000,000. Proceeds from the sale totaled approximately $2,260,000, net of repayment of approximately $3,540,000 of outstanding senior loans and closing costs of approximately $200,000. Our distribution received from the sale totaled approximately $306,000.
SIGNATURES
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.
| HAPPYNEST REIT, INC. | |||
| By: | /s/ Jesse Prince | ||
| Name: | Jesse Prince | ||
| Title: | Chief Executive Officer, Chief Financial Officer, | ||
| President, Treasurer and Secretary (Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer) | |||
| Date: January 6, 2023 | |||
Index to Exhibits
| Exhibit No. | Description | |
| 6.1 | Real Estate Purchase Agreement dated as of December 19, 2022 |
