CMB Regional Centers- What Does CMB Mean?
The formation of CMB Regional Centers, (CMB is an acronym for “California Military Bases”) envisioned assisting California communities that experienced military base closures due to the determinations of the Federal Base Realignment and Closure Commission (“BRAC”). CMB’s initial EB-5 partnerships focused on helping the communities surrounding the closed military bases recover from the economic devastation of losing jobs and commerce the military bases formerly provided for decades to the communities.
EB-5 capital from foreign nationals participating in the EB-5 program in a CMB partnership, is used to assist economically distressed communities create jobs for American workers and stimulate economic development in the community. These investments partner with public entities - such as city, state and local government economic development authorities as well as private developers.
The California military bases named in our original EB-5 Regional Center authorization, approved in 1997, are George Air Force Base, Norton Air Force Base, Mather Air Force Base, Sacramento Army Depot, McClellan Air Force Base and the realigned March Air Force Base.
In the more than 20 years since CMB’s original authorization as an EB-5 Regional Center, the number of communities we have the ability to help continues to expand. We now able to provide EB-5 investment opportunities throughout the US in 22 different States and Washington D.C.
CMB Regional Centers is arguably the oldest regional center in existence having its origins in the EB5 space predating the regional center program. The founder, Patrick Hogan, began working in the EB5 programs in the early 1990s, and the first of 15 CMB Regional Centers was authorized in 1997.
Currently In 2020: CMB announced that it is possibly the very first regional center to complete a project fundraising that contained both $500,000 EB5 investors as well as $900,000 EB5 investors! This was possible because CMB, in its entire history, never gerrymandered an area to make it appear as if it qualified as a TEA; in every case it was a true TEA. Because CMB has always operated in true targeted employment areas, the new regulations are essentially nothing new to them and fit within all of CMB’s EB5 projects.
With CMB being one of the oldest active regional center operators in the EB5 industry with 23 years of experience. As of this writing CMB has over 5,700 EB5 investor families from 102 countries that have chosen to invest in one of CMB’s 75 EB5 investment opportunities. As of today, CMB has helped over 1,400 families achieve I-829 petition approval to live and work permanently in the United States and has returned capital to nearly 1,700 investors. There are very few regional centers that can come close to this level of success for their EB5 visa investors.
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 EB5 partnerships. If you would like to learn more about the EB5 Investor Visa Program, please contact CMB Regional Centers.
