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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EB-5’s fighting chance

In early 2013, a press release for an upcoming luxury high-rise in New Jersey was blasted out to investors more than 6,000 miles away.

Aimed at wealthy Chinese seeking a life in America through the EB-5 visa program — green cards awarded to foreign nationals in exchange for investments in job-creating projects — the release cited Jersey City’s demand for upscale rentals at prices set well below the Manhattan market. Kushner Companies, the developer of the $218 million project later christened Trump Bay Street, would begin construction on the 50-story tower the following year if enough capital was raised.

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