CMB's Group 73 Limited Partnership Is Now Open For SubscriptionNovember 1, 2019
CMB Regional Centers Announces that the CMB Infrastructure Investment Group 73 Limited Partnership (Group 73) is now Open for Subscription.
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CMB Regional Centers is proud to announce that CMB Group 73 is ready to accept investors seeking an EB-5 visa through the regional center program. The target project of Group 73 will provide an EB-5 loan to a Hillwood Development Company affiliate to finance various phases of the development and construction of a build-to-suit office facility in the State of California and a warehouse facility in the State of Pennsylvania.
Development and construction activities are projected to commence 1st Quarter 2020 and is scheduled to achieve full completion by 3rd Quarter 2021. Total project spending will be approximately $188 million and the project is anticipated to create 722 model derived jobs using RIMS II, which represents a 14.60% job creation buffer for any EB-5 investors in the Group 73 partnership. Group 73 will make a loan of up to $31.5 million for the development and construction of the project, representing 63 EB-5 investors.
What advantages does this project have over others in the EB-5 marketplace today?
- The project is with CMB Regional Centers the #1 regional center when considering the following: #number of EB-5 projects, #number of subscribed EB-5 investors, total amount of EB-5 capital raised and the tenure of its CEO in the EB-5 marketplace.
- Group 73 will have third-party independent audits by an internationally recognized accounting firm of its financial records and immigration statistics on a yearly basis.
- Group 73 partnership documents and project documents are completely ready for any potential EB-5 investor wanting to invest before the new regulations become effective on November 21.
- The equity required to complete the project has been fully committed in anticipation of future EB-5 funding being made available to the project. As EB-5 funds are raised and made available to the Project overfunded equity, is replaced. Should the EB-5 raise fall short, equity will remain in place to complete the construction of the project.
- Executed Long-Term Lease Agreement with Exelixis, for the build-to-suit office building.
- Group 73 is projected to create 114% of the jobs required under the USCIS guidelines.
- Group 73 has a TEA certification letter from the States of California and Pennsylvania.
- CMB engages Prevail Capital, LLC, a broker-dealer registered with the SEC and a member of FINRA and SIPC, to be the administrative placement agent for all CMB EB-5 partnerships.
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