CEO & founder of EB5 Capital, Angel Brunner, speaks to Bloomberg Markets about the future of commercial real estate in the post-pandemic world.
Washington, DC – EB5 Capital announced today its $18 million preferred equity investment in The Coliseum project (now known as Uline Arena) has been repaid in full by its developer, Douglas Development Corporation (DDC). DDC and EB5 Capital have now partnered on three EB-5 projects, and the Coliseum marks DDC’s second early repaid partnership to EB5 Capital.
“For our investors, the full repayment of an EB-5 investment by a developer is an important moment in the lifecycle of an EB-5 project,” said Brian Ostar, EB5 Capital’s Senior Vice President of Global Operations. “Clients place a great deal of trust in our due diligence process to select EB-5 projects capable of returning funds on time and we’re happy to have met that mark for our limited partners invested in the Coliseum.”
The Coliseum is now home to one of only five flagship REI retail stores across the United States. Additional office and retail space in the building is occupied by organizations such as Red Bear Brewery, Pact, Antunovich Associates, and Goodwill Industries International. The project has fully satisfied the EB-5 program requirements by creating more than enough qualifying jobs for 36 investors who are now looking forward to completing their immigration process.
“The Coliseum is the first of EB5 Capital’s six EB-5 projects in the NoMa neighborhood of Washington, DC, all within several short city blocks of one another,” said Juline Kaleyias, Director of Investor Relations. “Our commitment to redeveloping this area is a case study in how we think the EB-5 program is best put to use. We look forward to continuing our work in this region of our nation’s capital.”
About EB5 Capital
EB5 Capital is a leader in the EB-5 immigrant investor industry, raising over $680 million in foreign capital from investors in more than 60 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 26 projects, EB5 Capital maintains a 100% project approval rate from the USCIS. For more information, visit http://www.eb5capital.com.
Developers are snatching up prime real estate in Baltimore’s central business district with the goal of delivering new market-rate apartments, affordable housing and retail to city dwellers.
One Baltimore developer is seeking out small to midsized, centrally located buildings it wants to transform into boutique apartment, retail and office projects. Deals like these are why Bisnow is excited to host the 5th Annual Future of Downtown Baltimore Dec. 13 at The Renaissance Baltimore Harborplace Hotel, starting at 7:30am.
As the development wave in DC continues to push east, bustling new neighborhoods are emerging where vacant warehouses once sat. Historic buildings are being repurposed into trendy new apartment and office buildings, allowing the neighborhoods to preserve their industrial DNA, evoking comparisons to neighborhoods like Manhattan’s Meatpacking District and Brooklyn’s Williamsburg.