EB5 Capital today announced that it has provided $40.5 million in preferred equity financing for Columbia Place, a dual-branded Marriott hotel project being developed by Quadrangle Development Corporation and Capstone Development. Columbia Place comprises two new Marriott hotels – a 357-room Courtyard and a 147-room Residence Inn – within one building. The two hotels will be built across from both the existing Marriott Marquis and the Walter E. Washington Convention Center, creating a true three-hotel complex. The three hotels will include more than 1,600 rooms for business and leisure travelers.
MINORITY BUSINESS LEADER AWARDS | Angelique Brunner
The Washington Business Journal selected Angelique Brunner of EB5 Capital as one of the members of the 2016 class of Minority Business Leader Award honourees.
Company seeks to steer international investment to Texas
A Maryland-based company that connects well-heeled international investors with developers seeking to finance real estate projects in the United States has expanded into Texas, and its founder has set her sights on several Houston neighborhoods for future developments.
The company, EB5 Capital, uses a federal program created by Congress in the early 1990s to allow foreigners to receive green cards for themselves and their families if they invest at least $500,000 in a job-creating U.S. business.
100 biggest private companies: They built this region
We’ve all seen those cranes towering over Washington’s skyline, detoured around the guys in yellow vests and hard hats who always seem to block traffic, heard the roar of heavy machinery outside our windows during meetings.
Now, let’s thank them. All of them.
To Maintain ‘Business as Usual’ Across the Country, We Need a Robust Investor Visa Program | Letter to the Editor
Kenric Ward’s “Inside the Beltway” contribution does not describe the EB-5 visa program that I know (“On Capitol Hill, It’s Business as Usual for Investor Visas,” Roll Call, Sept. 2). While he’s right to point out that the program has broad bipartisan backing, the reasons for that support are far less cynical than he would have you believe: simply put, EB-5 creates jobs and is transforming communities through the power of economic development. According to a 2014 Brookings Institute report, the program has created at least 85,000 jobs since its creation in 1990. A more recent analysis of the program from the EB-5 Investment Coalition (EB-5IC), a trade group of which I am a member, shows EB-5 generated $5.2 billion in private investment between 2005 and 2013 and created at least 31,000 jobs in 2013 alone without any investment from taxpayers.