Today, members of the EB5 Capital team joined IDI Group Companies in Woodbridge, VA to celebrate the Topping Off of our JF28 project, Rivergate. The Topping Off celebration is a long-standing tradition to show appreciation for the construction workers by thanking them for their efforts. As we all know, the past few years have been full of hardship, ambiguity, and difficulties because of the COVID-19 global pandemic, however, we are proud to say that the project has continued to push forward. Despite the rainy weather, the event marked a momentous and memorable occasion for all of those involved. Just outside of Washington, DC, when complete, the waterfront development will offer 318 multifamily units with a full range of luxurious amenities.
WASHINGTON, Sept. 10, 2021 (GLOBE NEWSWIRE) — EB5 Capital announced today its $20 million preferred equity investment in CP Capital US’s (formerly known as HQ Capital Real Estate) 225 North Calvert has been repaid in full.
225 North Calvert, located in Baltimore, Maryland, is a mixed-use redevelopment of a downtown office building into a 347-unit luxury apartment building with ground-floor retail. Construction began in late 2016 and was completed in November of 2018. The amenities offered by 225 North Calvert are upscale and designed to attract young professionals. Its 9,500 square feet of ground-floor retail space adds to the exciting atmosphere of the area as downtown Baltimore continues growing into an attractive destination for living, dining, and entertaining.
WASHINGTON, June 14, 2021 (GLOBE NEWSWIRE) — EB5 Capital joins Foulger-Pratt in celebrating the opening of two multifamily developments this month in Northeast Washington, DC.
Press House and One501 both opened on June 1, 2021. Press House, EB5 Capital’s 21st project, consists of two towers with 356 apartments and approximately 15,000 square feet of ground-floor retail. One501, EB5 Capital’s 26th project, offers 327 apartment units and 9,000 square feet of ground-floor retail. Both Press House and One501 are metro-accessible and only minutes away from DC’s renowned Union Market, a gourmet food hall that has become a mecca for food connoisseurs from around the DC area. EB5 Capital and Foulger-Pratt have collaborated on three EB-5 projects together.
“We congratulate Foulger-Pratt and EB5 Capital’s 135 foreign investors on these major milestones,” said Patrick Rainey, EB5 Capital’s Senior Vice President of Investments. “Both Press House and One501 are unique in their own ways and bring incredible value to the NoMa and Eckington submarkets.”
Over the past decade, the District of Columbia has experienced a 14.6% increase in its population, representing the seventh highest urban growth rate in the United States. Most COVID-19 restrictions have been recently lifted in DC and the multifamily market is experiencing a steady increase in demand. EB5 Capital continues to focus on multifamily investments in the DC metro area and is currently raising capital for a similar project.
About EB5 Capital
EB5 Capital provides qualified investors from around the world with opportunities to invest in job-creating commercial real estate projects to obtain U.S. permanent residency, as well as private equity investments and secondary passports. For more information, visit http://www.eb5capital.com.
“Commercial real estate is going to trail residential because residential leases are shorter. What you have seen is residential numbers plummet in Silicon Valley and San Francisco. You’re hearing about multifamily down 40% in rents. Commercial is going to follow that because commercial leases tends to be five years or more and landlords have the ability to hold the line.”
Washington, DC – EB5 Capital joins Douglas Development Corporation and PTM Partners in celebrating the launch of leasing at 1900 Half Street, one of the first multifamily developments in Washington, DC’s Buzzard Point neighborhood. The property consists of 453 luxury apartment units, with 17,000 square feet of commercial retail space.
1900 Half Street is located directly on the riverfront, which provides rare panoramic views of the Potomac and Anacostia Rivers. The project sits two blocks away from the newly built $300 million Audi Field, home to the DC United Major League Soccer team, and is also within a half-mile of Nationals Park, home of Major League Baseball’s Washington Nationals.
EB5 Capital funded $44.5 million from investors representing 16 different countries. “More than one-third of our EB-5 raise came from India,” said Anubhuti Dhand, EB5 Capital’s Investor Relations Manager. “Our Indian investors felt confident and secure with a multifamily apartment project located in this fast-developing neighborhood.”
1900 Half Street is a few blocks away from Dock79, another multifamily project financed by EB5 Capital in 2014. Dock79 is located in Capitol Riverfront, the next neighborhood over from Buzzard Point. Both properties are expected to benefit from new housing demand created by Amazon’s forthcoming HQ2, which is expected to bring an estimated 25,000 jobs to Arlington, Virginia, and is less than a 10-minute drive from both properties. The multifamily project also sits inside of a designated Opportunity Zone.
“Washington, DC is known as a stable safe-haven for real estate investments”, said Jon Mullen, Senior Vice President of Investments. “This particular submarket is completely transforming at a rapid pace and we are excited to be working with one of the most experienced developers in the nation’s capital.”
About EB5 Capital
EB5 Capital is a leader in the EB-5 immigrant investor industry, raising over $750 million in foreign capital from investors in more than 65 countries for investment in job-creating real estate projects across the United States. EB5 Capital owns and operates five USCIS-authorized Regional Centers that serve 14 states and the District of Columbia. With a portfolio of 28 projects, EB5 Capital maintains a 100% project approval rate from the USCIS. For more information, visit http://www.eb5capital.com.