Group 78 Project is now 100% Pre-Leased and Available for SubscriptionSeptember 3, 2020
Group 78, will feature construction work on two separate Hillwood Development Company affiliated (“Hillwood”) ecommerce/logistics projects in Southern California’s Inland Empire region.
CMB believes that the Group 78 offering represents one of the greatest EB-5 investment opportunities available today. The projects lever the explosive growth in the ecommerce and logistics sectors with two major Fortune 500 tenants.
Group 78’s first project, known as Waterman TI, was fully pre-leased in November of 2019 and will involve tenant specific buildout in a 1,000,000 s/f (92,903 s/m) facility located in San Bernardino, CA. The second project, known as VIP 215, is now fully pre-leased, and will involve the ground up development and construction of a new 2,000,000 s/f (185,806 s/m) logistics center on land that was once part of March Airforce Base in Riverside, CA.
From the onset, the Group 78 Partnership was designed with the goals of the EB-5 investor in mind. CMB structured the Group 78 Loan Agreement to provide for a stair-stepped, risk-mitigated approach to raising investor funds for use within the project. This approach provided assurance that Group 78 EB-5 investor funds would only be used in a pre-leased project. This approach, combined with the expertise and experience of Hillwood Development Company, a multi-billion dollar - U.S. based developer, will ensure not only the likelihood that all job creation requirements will be satisfied, but the possibility that these projects, bolstered by long-term tenant leases with two Fortune 500 companies, can be financially successful in these uncertain economic times.
Group 78 marks CMB’s 31st EB-5 Partnership in conjunction with Hillwood. To date, over 1,500 clients of CMB’s over 5,700, have chosen CMB EB-5 Partnerships featuring Hillwood projects. What’s more, all of CMB’s EB-5 partnerships continue to maintain a 100% approval rate at both the I-526 and I-829 stages.