New EB-5 Project Now Open For Subscription - Group 71 Limited Partnership_{October 23, 2019}

CMB Regional Centers Announces that the CMB Infrastructure Investment Group 71 Limited Partnership (Group 71) is now Open for Subscription.

CMB Regional Centers is proud to announce that CMB Group 71 is ready to accept investors seeking an EB-5 visa through the regional center program.  The target project of Group 71 is a modern high-rise, off-campus, student housing development within the University District, adjacent to the University of Washington in Seattle, Washington. It will feature modern furnishings and desirable amenities, including: a rooftop deck, indoor pool, fitness center, indoor basketball court, study room, lounge and first floor retail space. The 24-story residential tower will consist of approximately 230 units, 460 beds with a mix of studios and 1-5 bedroom units, along with 4,350 square feet of retail space, 27 underground parking spaces and a bike room with 86 stalls.

Construction activity at the site has already commenced in anticipation of CMB EB-5 funding and is scheduled to achieve full completion by 4th Quarter 2020. Total project spending will be approximately $103 million and the project is anticipated to create 871 model derived jobs using RIMS II, which represents a 58.4% job creation buffer for any EB-5 investors in the Group 71 partnership. Group 71 will make a loan of up to 27.5 million for the development and construction of the project, representing 55 EB-5 investors  CMB

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 71 will have third-party independent audits by an internationally recognized accounting firm of its financial records and immigration statistics on a yearly basis.


• Group 71 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.


• Group 71 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 now in place. Should the EB-5 capital raise fall short, bridge funding can remain in place to complete the construction of the Project.


• Group 71 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 71 is projected to create 158% of the jobs required under the USCIS guidelines.


• Group 71 is already under construction demonstrating that job creation is occurring.


• The project has received a third-party project appraisal by Colliers international supporting its financial feasibility.

 

• Group 71 qualifies under the current rules of TEA’s as well as the new regulations that will go into effect on November 21^st.


• Group 71 has a TEA certification letter by the State of Washington.


• 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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