Hubilu Venture Corp. Completes Asset Acquisition/Disposition

Ticker: HBUV · Form: 8-K · Filed: Sep 5, 2024 · CIK: 1639068

Sentiment: neutral

Topics: material-definitive-agreement, acquisition, disposition

TL;DR

Hubilu Venture Corp. just made a big move on assets, filing an 8-K for a material agreement and acquisition/disposition.

AI Summary

On September 4, 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 at 205 S. Beverly Drive, Suite 205, Beverly Hills, California.

Why It Matters

This filing indicates a significant corporate action involving asset changes for Hubilu Venture Corp., which could impact its business operations and financial structure.

Risk Assessment

Risk Level: medium — The filing reports a material definitive agreement and completion of an acquisition or disposition of assets, which are significant events that could carry inherent risks.

Key Players & Entities

FAQ

What specific assets were involved in the acquisition or disposition?

The filing does not specify the exact assets involved in the acquisition or disposition.

What is the nature of the material definitive agreement entered into by Hubilu Venture Corp.?

The filing does not provide details on the specific terms or nature of the material definitive agreement.

When was the material definitive agreement signed?

The filing indicates the earliest event reported was on September 4, 2024, which is likely when the agreement was entered into or the transaction was completed.

What is Hubilu Venture Corp.'s primary business activity?

Hubilu Venture Corp. is classified under 'REAL ESTATE OPERATORS (NO DEVELOPERS) & LESSORS' with SIC code 6510.

Where is Hubilu Venture Corp. incorporated?

Hubilu Venture Corp. is incorporated in Delaware.

Filing Stats: 936 words · 4 min read · ~3 pages · Grade level 13.1 · Accepted 2024-09-05 17:28:14

Key Financial Figures

Filing Documents

01 by reference

Item 1.01 by reference. Item 2.01 Completion of Acquisition of Assets. (a) On August 30, 2024, the Company, through its subsidiary, Mopane Investments, LLC, closed on the acquisition of the real property located at 1659 Roosevelt Avenue in Los Angeles. The property was vacant at the time of purchase. The acquisition was for $760,000. The Mopane purchase is subject to two loans as follows: (1) $570,000 first position note owing by Mopane to LendingOne, LLC ("LendingOne"), bearing interest on unpaid principal at the rate of 6.90% per annum. Principal and interest payable in monthly installments of $3,277.50 or more commenced on August 29, 2024 and continue until September 1, 2054, at which time the entire principal balance together with interest due thereon, shall become due and payable. (2) A $200,000 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 $1,000 or more on the 1st day of each month beginning on the 1st day of September 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 Roosevelt Agreement and the transaction contemplated thereby contained herein is qualified in its entirety by reference to the Roosevelt 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: September 4, 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 among Mopane Investments, LLC and Jun Heasup Cho, Trustee. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 5

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