CMB Group 28 Celebrates 48th EB-5 Loan RepaymentMay 4, 2021
CMB Group 28 Celebrates 48th EB-5 Loan Repayment, Creation of Jobs and Affordable Housing for San Francisco Bay Area
CMB Regional Centers, the leading EB-5 Regional Center, is proud to announce the full repayment of the CMB Group 28 EB-5 Loan by the borrower, an affiliate of Woodridge Capital Partners. This repayment achievement marks CMB’s 48th EB-5 loan repayment, now totaling more than $1.4 Billion in repaid EB-5 loans.
CMB Group 28 provided a $22 million loan for the construction of the Village of Loch Lomond in San Rafael, California. The Village at Loch Lomond is a mixed-use waterfront development located at the Loch Lomond Marina. The development has provided much needed residential properties to the San Francisco Bay area, including 17 below-market rate units that contribute affordable housing opportunities to the region. The project created 1030 full-time American jobs at zero cost to American tax payers.
When sharing her insight on the importance of EB-5 funding for the project, CMB President, Noreen Hogan said, “CMB is proud to be part of The Village of Loch Lomond success story. When the development was being considered, it was located in a high unemployment area and it was difficult for the owner to find financing. Even with the approval of the City of San Rafael, without EB-5 funds, this project - which includes affordable housing and protection of wetlands, may never have taken place. There is a straight line between the EB-5 capital provided by CMB Group 28 and the development of this community of 81 residential and affordable units, multi-purpose retail, specialty grocery, and a common-area plaza on a beautiful bay-front location. This project shows the good the EB-5 program can bring when it is utilized correctly.”
CMB is one of the oldest and most successful regional center operators in the EB-5 program. Since CMB’s initial authorization as a regional center in 1997, more than 5,700 immigrant investor families have invested in a CMB EB-5 opportunity. Today, CMB operates 15 regional centers and has raised over $3 Billion in EB-5 funds, resulting in the creation of more than 186,000 new American jobs. If you would like to learn more about the EB-5 Investor Visa, or CMB’s current EB-5 offerings, please contact us to schedule a free initial consultation with a CMB Investor Relations Manager.
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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