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Hubilu Venture Corp (OTCID:HBUV) announced Monday that it has completed the acquisition of real property located at 417 W 52nd Place in Los Angeles for $525,000. The transaction closed on August 14, 2025, through the company’s subsidiary, Elata Investments, LLC, according to a statement in a recent SEC filing.
The property was vacant at the time of purchase. The purchase agreement was initially entered on July 29, 2025, between Elata Investments, LLC and the Estate of Louise Hill, with Darnell Gant acting as administrator.
The acquisition was financed in part by a $482,500 first position note from Center Street Lending VIII SPE, LLC. The note carries an annual interest rate of 9.990%, with interest-only payments of $3,933.56 or more due monthly starting October 1, 2025. The loan matures on August 8, 2026, at which point the full principal and any remaining interest are due.
The company stated that the terms of the acquisition are detailed in the purchase contract attached as an exhibit to the SEC filing. This report is based on a press release statement included in the company’s Form 8-K filing.
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