M&A - Hubilu Venture Corp

Form Type: 8-K

Filing Date: 2025-05-19

Corporate Action: Acquisition

Type: New

Accession Number: 000164117225011318

Filing Summary: On April 2, 2025, Hubilu Venture Corp, through its subsidiary Elata Investments, LLC, entered into a non-binding purchase agreement with Nadine Heustis N’Diaye and Ronald Jason Heustis, Successor Co-Trustees, to acquire real property at 1650 S Rimpau Blvd. in Los Angeles for $650,000. The acquisition closed on May 13, 2025. The purchase is subject to two loans: a $520,000 first position note payable to Investor Mortgage Finance, LLC at a 7.125% interest rate, and a $250,000 second position note payable to Jacaranda3 Investments, Inc. at an 8.00% interest rate. Interest payments on the notes vary, with specific terms outlined, including the structure of monthly installments and due dates for principal and interest repayments.