Cuentas signs binding LOI to acquire membership interest in affordable housing

Cuentas announced it has signed a binding LOI to acquired a $2 million membership interest in 4280 Lakewood Road, LLC by issuing CUEN common shares to Core Development Holdings Corporation, a Florida corporation that is a partner in the project. The project is named Lakewood Village and is an affordable multi-family real estate project located in Lake Worth, Florida. Units are currently available for rent and the entire project is designed for 96 brand new 2 bedroom/2 bathroom and 3 bedroom/2 bathroom apartments. Lakewood Village is taking applications for rental customers to move in. The transaction is scheduled to close as soon as practicable, when third party project appraisal evaluations are complete and the Cuentas Board of Directors approve the transaction.