Branson

Sir Richard Branson Attends Virgin Hotels Groundbreaking in Nashville

The British billionaire and adventurer’s Miami-based Virgin Hotels will run the 240- room lifestyle hotel, whose developer is The Buccini/Pollin Group.

The project planned at the corner of Division Street and Music Square West will create 300 construction jobs. Upon opening in 2019, it will generate $2.9 million of annual payroll plus $675,000 a year in annual income for the city and state.

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Press Release

EB5 Capital Provides $8.5 Million for Huntington Hotel Group’s Home2 Suites by Hilton Hotel in Temecula, CA

Washington, DC, September 21, 2017 – Today EB5 Capital announced that it has provided $8.5 million in preferred equity financing for Huntington Hotel Group’s development and construction of a 120-room, all-suite, Home2 Suites by Hilton located in Temecula, CA. The hotel will serve business travelers as well as tourists in this popular wine region. The project is expected to create more than 300 jobs.

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Press Release

PRC Structures $61.5 Million Capital Stack Including Construction Loan & Preferred Equity for 1401 Pennsylvania Avenue

Bethesda, MD, September 5, 2017 – CAS Riegler Companies (CASR), Neighborhood Restaurant Group (NRG), and May Development (May) announced that a new Class-A apartment and retail  development at 1401 Pennsylvania Avenue, SE is fully funded. The companies secured a $44,536,250 loan with EagleBank and a $17,000,000 preferred equity investment provided by EB5 Capital. Phillips Realty Capital arranged both components of the capital stack.

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Congress soon could make it harder for rich people to move to the U.S.

The original plan was to attract foreign investment to blighted neighborhoods. But instead, the controversial EB-5 investor visa enabled affluent Chinese to park their cash in high-end real estate in Beverly Hills and Manhattan — benefiting developers such as President Trump and his son-in-law, Jared Kushner.

Now the visas criticized as “green cards for cash” face a questionable future, with some members of Congress refusing to reauthorize the program, which expires Friday, unless there is significant reform.

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EB-5 likely to be extended again; deadline looms

Once again Congress is poised to decide the fate of the EB-5 program that enables foreign investors – many of whom are Chinese – to pump between $500,000 and $1 million into US projects that create jobs in return for visas.

EB-5 is scheduled to expire on Friday unless Congress acts. According to Stephen Yale-Loehr, an attorney and Cornell University law professor, Congress is likely to once again extend EB-5 temporarily as it weighs more pressing matters and agrees on changes to the program.

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