CMB Announces the Repayment of 35th EB-5 Partnership – Surpassing $1.4 Billion in Repaid EB-5 LoansApril 22, 2021
CMB Group 57 provided $15,500,000 to an affiliate of Griffin Capital Partners for the construction and related infrastructure improvements for MODA at Monrovia Station, a five-story 261-unit multi-family development and parking garage in the City of Monrovia, California.
MODA is a transit-oriented development and the cornerstone for the City of Monrovia’s The Parks at Station Square vision. The City’s area plan focused on transportation and lifestyle needs in concert with the Foothill Extension of LA Metro’s Gold Line to reach Monrovia – in the San Gabriel Valley – approximately 15 miles eastward from Los Angeles. The Gold Line’s extension to Monrovia Station allows for residents of Monrovia to commute to downtown Los Angeles (CBD) in approximately 35 minutes, making it more attractive for business commuters to live in Monrovia and work in LA.
CMB President, Noreen Hogan, stated, “The Group 57 project incorporated CMB’s core values and our investor first focus. It combined the City’s vision, private funding and EB-5 capital to leverage job creation in a high employment area, all the while fulfilling Congress’s intent for the EB-5 program. The economic evaluation of capital expenditures of the project reflects a total of 770 indirect and direct American jobs were created, more than enough for each of the 31 investors in Group 57.”
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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 5,800 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.