Hubilu Venture Corp. Enters Material Agreement, Completes Asset Deal

Ticker: HBUV · Form: 8-K · Filed: Aug 22, 2024 · CIK: 1639068

Sentiment: neutral

Topics: material-agreement, asset-acquisition, asset-disposition

TL;DR

Hubilu Venture Corp. just made a big deal and closed an asset transaction.

AI Summary

On August 21, 2024, Hubilu Venture Corp. entered into a material definitive agreement and completed the acquisition or disposition of assets. The company is incorporated in Delaware and its principal executive offices are located in Beverly Hills, California.

Why It Matters

This filing indicates significant corporate activity for Hubilu Venture Corp., suggesting a potential shift in its business operations or asset portfolio.

Risk Assessment

Risk Level: medium — Material definitive agreements and asset acquisitions/dispositions can introduce significant financial and operational risks.

Key Players & Entities

FAQ

What type of material definitive agreement did Hubilu Venture Corp. enter into?

The filing does not specify the exact nature of the material definitive agreement, only that one was entered into on August 21, 2024.

What assets were acquired or disposed of by Hubilu Venture Corp.?

The filing indicates the completion of an acquisition or disposition of assets, but does not provide details on the specific assets involved.

What is the business of Hubilu Venture Corp.?

Hubilu Venture Corp. is classified under 'REAL ESTATE OPERATORS (NO DEVELOPERS) & LESSORS [6510]'.

When was the earliest event reported in this 8-K filing?

The earliest event reported was on August 21, 2024.

Where are Hubilu Venture Corp.'s principal executive offices located?

Hubilu Venture Corp.'s principal executive offices are located at 205 S. Beverly Drive, Suite 205, Beverly Hills, California 90212.

Filing Stats: 949 words · 4 min read · ~3 pages · Grade level 12 · Accepted 2024-08-22 10:18:18

Key Financial Figures

Filing Documents

01 by reference

Item 1.01 by reference. Item 2.01 Completion of Acquisition of Assets. (a) On August 20, 2024, the Company, through its subsidiary, Mopane Investments, LLC, closed on the acquisition of the real property located at 802 E. 25 th Street in Los Angeles. The property was vacant at the time of purchase. The acquisition was for $650,000. The Mopane purchase is subject to two loans as follows: (1) $520,000 first position note owing by Mopane to LendingOne, LLC ("LendingOne"), bearing interest on unpaid principal at the rate of 6.71% per annum. Principal and interest payable in monthly installments of $3,359 or more commenced on August 15, 2024 and continue until July 1, 2054, at which time the entire principal balance together with interest due thereon, shall become due and payable. (2) A $150,000 second position note owing by Mopane to Belladonna Lily Investments, Inc. ("Belladonna"), whose terms of payments due were interest only, payable on unpaid principal at the rate of 6.00% per annum. Interest only payable in monthly installments of $750 or more on the 1st day of each month beginning on the 1st day of August 2024 and continuing until the 31st day of December 2029, at which time the entire principal balance together with interest due thereon, shall become due and payable. The foregoing description of the acquisition of the E. 25th Agreement and the transaction contemplated thereby contained herein is qualified in its entirety by reference to the E. 25th Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated into this

01 by reference

Item 1.01 by reference. 3

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: August 21, 2024 HUBILU VENTURE CORPORATION By: /s/ David Behrend Name: David Behrend Title: Chief Executive Officer 4 EXHIBIT INDEX Exhibit Number Description 10.1 Purchase Contract and Seller Counter Offer among Mopane Investments, LLC and Hector and Octavio Edeza. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 5

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