Group 86 – Gable House Apartments
Group 86 – Gable House Apartments
Torrance, California
$47.2M
EB-5 Loan
$155.1M
Total Project Spending
968
Estimated Jobs from Development & Construction
64.07%
Job Creation Buffer
16.407
Jobs Per Investor
The Group 86 Project
A MULTIFAMILY MIXED-USE DEVELOPMENT
The Project
The Group 86 Project, Gable House Apartments, will consist of the development and construction of a 218-unit multifamily mixed-use development in Torrance, California. Torrance is located in the Los Angeles South Bay submarket.
Located at 22501 Hawthorne Boulevard, the new community will feature 218 one-and two-bedroom apartment homes for rent alongside approximately 12,000 square feet of retail, including future dining and shopping opportunities. Joint venture partner, Intracorp has been active in Southern California for over 20-years. Gable House will continue that legacy and will be one of the first major multifamily projects to be developed in Torrance in roughly 50-years, providing much-needed new housing in an under-supplied South Bay market. Notably, 17 of the 218 units will be required to be affordable housing units for those qualifying under U.S. Department of Housing Urban Development standards
GABLE HOUSE APARTMENTS
Once complete, Gable House will offer five stories of residential living and include an extraordinary amount of amenity space. The new building’s architecture draws inspiration from the post-modern gables of the former, iconic bowling alley. Fashioned after LA’s popular rooftop decks, the pinnacle of this community will be a sky deck and pool lounge. In addition to other best-in-class amenities, the Project will include a state-of-the-art wellness center, view decks, a social club, a business center, and much more. The highly curated interiors will be home to those seeking a uniquely soulful experience and patterned after LA’s most fashionable hospitality environments.
In addition to its amenities, the project will provide 460 parking spaces, the majority of which will be in a six-level parking structure. The Project will also include 28 spaces for electric vehicle parking, helping it adhere to the State’s green building standards.
Hillwood Development Company
Hillwood is a leader in developing and acquiring high-quality industrial properties across North America and Europe. From acquisition and joint ventures, to development and ongoing property management, Hillwood provides creative solutions for its customers and long-term value for its partners. Hillwood offers the depth of capital, market expertise, industry relationships, and forward-looking vision to buy and build industrial properties that meet the logistics and distribution demands of evolving markets.
40
CMB/Hillwood
Partnership
31
Partnerships with
I-526 Approvals
25
Partnerships with
Loan Repayment
19
Partnerships with
I-829 Approvals
PROJECT TIMELINE
Early construction activities have commenced with full construction anticipated to commence in Q2 2024.
The project is anticipated to reach full completion in Q2 2026.
Reasons to Invest
Leader in EB-5
CMB is the leading EB-5 regional center with a 100% project success rate in over 70 projects.
Industry Leading Developer
Hillwood Development Company is an award-winner developer with over 30 years of experience.
Housing Demand in Torrence
Gable House will will be one of the first major multifamily projects to be developed in Torrance in roughly 50-years, providing much-needed new housing in an under-supplied South Bay market.
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Projects
Our EB-5 Projects
CMB Group 91 Receives I-956F Approval in Record 5 Months
We are thrilled to announce that CMB Group 91 has received its I-956F approval from the United States Citizenship and Immigration Services (USCIS) in less than five months. This swift approval marks a significant milestone and sets a new benchmark for approvals in the ‘High Unemployment’ EB-5 investment category. Most importantly, the approval of the I-956F allows USCIS to begin adjudicating I-526E petitions of the 99 limited partners in Group 91.
CMB Group 91: DTW Air Cargo provided $79.2 Million in financing for the construction of a 302,600 square foot air cargo facility (including various support facilities) at the Detroit Wayne County Metropolitan Airport (DTW). DTW is one of the world’s largest air transportation hubs with more than 1,100 flights per day to and from four continents. The facility will be utilized by a Fortune 500 major air cargo operator. Hillwood Development Company served as the borrower and project developer for the project.
The Group 91 EB-5 investment is now fully subscribed and qualified under the ‘High Unemployment’ set-aside category implemented by the EB-5 Reform and Integrity Act of 2022 (RIA). The approval of this EB-5 investment partnership in under 5 months provides some insight into the way the USCIS is prioritizing the various set-aside categories. This ‘High Unemployment’ investment’s adjudication time rivals some of the fastest processing we have seen, in even the ‘Rural’ category.
This quick adjudication is an important consideration for prospective investors weighing the financial risks of ‘Rural’ EB-5 opportunities against the potential for faster processing. The location of a real estate development, (in particular projects in rural areas) has a significant impact on the financial risk for investors. Whether ‘Rural’ or ‘High Unemployment’, CMB holds its projects to the same standards and will only offer EB-5 projects that balance the inherent financial risks of the investment with the potential for priority processing as introduced by the RIA in 2022.
CMB Regional Centers (CMB) and Hillwood Development Company together represent one of the most successful lender-borrower relationship in the EB-5 industry and are both leaders within their own respective industries. CMB continues to be recognized as a pioneer within the EB-5 industry with over 25 years of experience assisting families from 103 countries around the world with their goal of immigrating to the United States through the EB-5 program. Hillwood, as one of the largest and most successful developers in the U.S., has and continues to develop projects for over 90 companies listed in either Fortune 500 or Global 500.
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