1900 Half Street Project Receives I-924 Exemplar Approval
Washington, DC – EB5 Capital announced today its receipt of an I-924 Exemplar approval for its 1900 Half Street project with Douglas Development Corporation located in the Buzzard Point neighborhood of Washington, DC. The United States Citizenship and Immigration Services (USCIS) approved the company’s petition in only seven months – well below the current average I-924 processing time of 19.5 to 25.5 months.
“We’re pleased to see a quick exemplar approval for this exciting project in the growing Buzzard Point area,” said Brian Ostar, EB5 Capital’s Senior Vice President of Global Operations. “We’re particularly happy about the attention Major League Baseball’s All-Star festivities have brought to the Buzzard Point and Navy Yard neighborhoods, and see 1900 Half Street as a complimentary component of their development, bringing additional jobs to the southern region of Washington, DC.”
The 1900 Half Street project is a $44.5 million preferred equity investment in Douglas Development Corporations’ redevelopment of a former office building into a 415-unit luxury apartment building with 17,000 square feet of ground-floor retail. The project is expected to create more than 1,250 EB-5 qualifying jobs. The project is located directly across from the new Audi Field, the home of Major League Soccer’s DC United team.
“Exemplar approvals are an important indicator to our clients that they have invested in a sound EB-5 project,” said Gustavo Marchesini, Investor Relations Manager. “We look forward to our JF24 investors’ next steps through the EB-5 immigration process.”
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About EB5 Capital
EB5 Capital is a leader in the EB-5 immigrant investor industry, raising foreign capital from investors in more than 50 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 10 states and the District of Columbia. With a portfolio of 24 projects, EB5 Capital maintains a 100% project approval rate from the USCIS. For more information, visit //www.eb5capital.com.
Nashville Business Journal Highlights Nashville Virgin Hotel (JF23) Project
EB5 Capital’s Investment in 1000 F Street Project Repaid in Full by Douglas Development Corporation
Washington, DC – EB5 Capital announced today its preferred equity investment of $9 million in the 1000 F Street project has been repaid in full by its developer-partner Douglas Development Corporation. It was repaid only 42 months after closing the investment.
“The full repayment of our investment in a project is a very big deal,” said Brian Ostar, EB5 Capital’s Senior Vice President of Global Operations. “Our developer-partners’ ability to deliver a project that can repay our investors is the ultimate determinant of whether or not we selected a good EB-5 investment. This news reaffirms that our process for partnering on EB-5 investments is working.”
The 1000 F Street development is a 94,000-square foot office building with ground-floor retail that delivered in 2016. Located in the Penn Quarter neighborhood of Washington, DC, the project created over 230 EB-5 qualifying jobs. The building’s office tenants include McDonald’s Corporation and Tellurian, Inc., and its ground-floor retail space is occupied by Sephora, among others.
“Our team works hard to ensure we find sound investments for our EB-5 investors,” said Jon Mullen, Senior Vice President of Investments. “We’re looking forward to continuing our firm’s track record on securing projects that satisfy the objectives of the EB-5 Program as well as minimize the risk to our investors.”
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About EB5 Capital
EB5 Capital is a leader in the EB-5 immigrant investor industry, raising foreign capital from investors in more than 50 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 10 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 www.eb5capital.com.
First Look at New Canopy by Hilton Hotel (JF14) in Pearl District
EB5 Capital’s Portland Hilton Canopy (JF14) project was featured in The Oregonian highlighting its opening to the public in June 2018.