CMB Opens New EB-5 Partnership- Now Accepting Investors at the New $900,000 Minimum Investment LevelDecember 6, 2019
CMB Regional Centers is proud to announce our first $900,000 investment opportunity. The CMB Group 69 partnership is ready to accept investors seeking an EB-5 visa through the regional center program. The target project of Group 69, also known as the “The Grand Bohemian Hotel” is a boutique style hotel in downtown Greenville, South Carolina.
Construction activity at the site has already commenced and is scheduled to achieve full completion by 2nd Quarter 2021. Total project spending will be approximately $108.5 million and the project is anticipated to create 1,418 model derived jobs using RIMS II, which represents a 178% job creation buffer for any EB-5 investors in the Group 69 partnership. Group 69 will make a loan of up to $27 million for the development and construction of the project, representing a total of 51 EB-5 investors.The Group 69 partnership is currently seeking three (3) investors at the new $900,000 minimum investment threshold. This partnership was previously introduced at $500,000 investment level and had raised $24 million.What advantages does this project have over others in the EB-5 marketplace today?
- The project location meets the requirements for a targeted employment area (TEA) under the new EB-5 Immigration Investor Program Modernization Regulations, for the lower investment of $900,000, plus associated costs (two census track TEA).
- 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 69 will have third-party independent audits by an internationally recognized accounting firm of its financial records and immigration statistics on a yearly basis.
- Group 69 partnership documents and project documents are completely ready for any potential EB-5 investor wanting to invest before the current expiration of the regional center program on December 20, 2019.
- Group 69 funds required for the project completion have been fully bridged in anticipation of the future CMB EB-5 funding being made available to the Project. In other words the entire capital stack is in place. Should the EB-5 capital raise fall short, bridge funding can remain in place to complete the construction of the Project.
- Group 69 has other attributes that protect every investor in the partnership such as: completion guarantees, pledge of membership/ownership interest, and an interest reserve in place through the construction period.
- Group 69 is projected to create 178% of the jobs required under the USCIS guidelines.
- Group 69 is well under construction demonstrating that job creation is occurring.
- The project has received a third-party project appraisal by CBRE Valuation & Advisory Services supporting its financial feasibility.
- 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.
If you would like more information about this project or if you have any questions, please contact us right away.