EB5 Capital Receives I-526 Approvals for Investors in its Virgin Hotels Nashville Project
Washington, DC – EB5 Capital announced today that multiple I-526 approvals have been received by investors in its Virgin Hotels Nashville project located in Nashville, TN. The I-526 approvals represent the completion of the first stage of the EB-5 immigration process for investors. These first approvals came in only 17 months – the United States Citizenship and Immigration Services’ (USCIS) current average I-526 approval time is between 20 and 26 months.
“We’re excited to see I-526 approvals come in for our Nashville Virgin Hotel project,” said Nhat Phuong Huynh, Investor Relations Manager. “Receiving I-526 approvals for our first project in Tennessee reaffirms our decision to invest in Music City, one of the United States’ top tourist destinations.”
The Virgin Hotels Nashville is a $40 million preferred equity investment in Buccini/Pollin Group’s construction of a 260-key, Virgin branded and operated hotel. The project is currently under construction and on track to create nearly 1,500 EB-5 qualifying jobs.
“An I-526 approval is an important milestone for our investors and their families. It’s a step closer to beginning their conditional residency period in the United States,” said Andrea Devis Focke, Investor Relations Manager. “We look forward to receiving I-526 approvals for the rest of our Nashville Virgin Hotel investors.”
###
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 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.
EB5 Capital Founder and President, Angel Brunner, Featured in Forbes
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.”
###
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.
