Washington, DC – EB5 Capital joins Huntington Hotels Group in celebrating the grand opening of Temecula Hilton Home2 Suites located in Temecula, California. The property is a 120-room Hilton hotel in the heart of Southern California’s wine country. It is situated between Los Angeles and San Diego
“We’re thrilled about seeing our fourth EB-5 funded project open in the Golden State,” said Brian Ostar, EB5 Capital’s Senior Vice President of Global Operations. “With a total of six projects delivered or under construction in California, this project is one of the four deals we structured in partnership with Huntington Hotel Group. The opening of Temecula Hilton Home2 Suites represents another milestone in our company’s extending portfolio of completed EB-5 projects across the country.”
EB5 Capital funded $8.5 million in the project as a preferred equity investment. The hotel includes a business center, dining room, outdoor swimming pool, fitness room, and entertainment space. The project will contribute to addressing strong demand for additional hotels in Temecula driven by tourists and the Rancho California Business Park, where several leading pharmaceutical and technology firms are located. The Home2 Suites Hilton brand targets corporate and leisure travelers and is specifically designed for families visiting for several days.
“It is always rewarding to see EB-5 projects complete their full construction cycle, from groundbreaking ceremony to grand opening,” said David Slavit, Director of Asset Management. “We are looking forward to providing official site tours to our investors who have plans to visit this area of California.”
About EB5 Capital
EB5 Capital is a leader in the EB-5 immigrant investor industry, raising foreign capital from investors in more than 55 countries for investment in job-creating real estate projects across the United States. EB5 Capital owns and operates six USCIS-authorized Regional Centers that serve 15 states and the District of Columbia. With a portfolio of 25 projects, EB5 Capital maintains a 100% project approval rate from the USCIS. For more information, visit http://www.eb5capital.com.
The red brick building at 11th and Broadway that was once home to Case Hotel is edging closer to becoming the Downtown LA Proper Hotel. Work to transform the space into a 148-room luxury hotel began this month, as it’s set to open in the spring of 2018, according to an announcement from Kor Group, which is developing the hotel with its partner Stork/Alma Development Group.
The Kor Group, along with joint venture partner Stork/Alma Development Group, is proud to announce that the team has started construction on the Downtown LA Proper Hotel, a 148-room lifestyle hotel that will be managed and branded by luxury lifestyle operator Proper Hospitality. Financing provided by EB5 Capital, Bank of the Ozarks and Calmwater Capital. McGuire Builders is the general contractor and Kelly Wearstler is leading the interior design. The project, which was first announced in July 2015, is slated to open in Spring 2018.
The Kor Group has begun construction of Santa Monica Proper, which is being developed with longtime landowner Alex Gorby and the Merchant Banking division of Goldman, Sachs & Co. Slated to open in winter 2018/2019, Santa Monica Proper Hotel is The Kor Group’s second partnership with Goldman, Sachs & Co.; the companies also teamed up for Austin Proper Hotel & Residences, which is also under construction.
The 271-room hotel, located close to the Pacific Ocean along Wilshire Blvd. in Downtown Santa Monica, will be managed and branded by the luxury lifestyle hotel operator, Proper Hospitality. The property will offer interior design by international style icon Kelly Wearstler, multiple dining options by local area chefs, a rooftop lounge and swimming pool, 8,000 sq. ft. of meeting and event space, and almost 7,000 sq. ft. of ground-floor retail.