Press Release

EB5 Capital’s 1900 Half Street Project Begins Leasing in Washington, DC

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.”

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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.

Press Release

Long-Awaited Construction Begins at 300 M in NoMa Neighborhood of Washington, DC

Washington, DC – After many project delays and some very difficult negotiations to protect its investors, EB5 Capital is pleased to announce the closing and subsequent groundbreaking of 300 M, the firm’s 17th EB-5 partnership. 300 M is a 457-unit, Class A multifamily development with approximately 10,000 square feet of ground-floor retail, located in the NoMa neighborhood of Washington, DC.

In April 2019, the site’s original developer announced it would not move forward with construction of the project, choosing instead to sell the land. The decision to halt development of the project placed EB5 Capital’s 49 EB-5 investors, their capital, and respective immigration processes into jeopardy.

“Having a partner decide to pause plans to develop a site tied to EB-5 money is a disastrous prospect for clients’ whose successful immigration to the United States is wholly dependent on subsequent job-creation from that investment,” said Brian Ostar, President of EB5 Capital. “There are a lot of Regional Centers that might have packed up, apologized to its clients, and taken the loss.”

After a rigorous marketing process, the buyer list for the site was narrowed in late 2019, with LCOR winning the selection process in February 2020. LCOR closed on the land and its partnership with EB5 Capital in June 2020. M&T Bank and Santander are providing the construction financing, which closed in July. EB5 Capital is investing $24.5 million in preferred equity into the development, which will be the firm’s 5th EB-5 project in the NoMa neighborhood, all within walking distance of one another.

“This experience tested our firm’s willpower and resiliency,” said Jon Mullen, Senior Vice President of Investments at EB5 Capital. “Looking back, the sale of the land and providing for a new development partner with a proven track record afforded a win-win pathway to getting shovels in the ground, delivering for our clients and the local economy through job-creation.” 

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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.

Press Release

Eckington Park Project Receives I-924 Exemplar Approval

Washington, DC – EB5 Capital announced today its receipt of an I-924 exemplar approval for its Eckington Parkproject, located in the Northeast corridor of Washington, DC. The United States Citizenship and Immigration Services (USCIS) approved the project in only nine months, while USCIS’ current average I-924 exemplar processing time is between 60 and 80.5 months.

“USCIS’ exemplar approval of Eckington Parkprovides an additional layer of confidence for the project’s investors,” said Brian Ostar, EB5 Capital’s Senior Vice President of Global Operations. “Securing USCIS approvals for our EB-5 projects is a responsibility we take very seriously.”

EB5 Capital is contributing a $31 million preferred equity investment in Foulger-Pratt’s development of the $115 million, 327-unit Class A multifamily project. Eckington Park will feature 9,000 square feet of retail and is located adjacent to the District of Columbia’s Tanner Park, an upcoming green space project, which will be home to a new playground, dog park, and amphitheater. The project is currently under construction and completion is expected in Q3 2021.

“Eckington Park is our firm’s sixth project in the area, all within walking distance of the growing NoMa neighborhood of Washington, DC,” said Patrick Rainey, EB5 Capital’s Vice President of Investments. “This development will offer an accessible, amenity-rich experience to an area that was in great need of additional housing and density.” 

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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 27 projects, EB5 Capital maintains a 100% project approval rate from the USCIS. For more information, visit http://www.eb5capital.com.

EB5 Capital’s CEO Comments on Recently Enacted Department of Homeland Security EB-5 Regulations

The following is a statement from EB5 Capital CEO, Angelique Brunner.

Washington, DC – “EB5 Capital remains optimistic about EB-5 development opportunities for 2020.  After closing all of our recent offerings, we are now preparing to launch exciting new EB-5 deals in the coming months – all compliant with the amended EB-5 regulations that became effective as of November 21, 2019.  We are working to provide the best opportunities available to our investors and to ensure that the program continues to thrive. We’re focused on three fronts.

“First, we are seeking to structure sound EB-5 investment opportunities that qualify at the $900,000 minimum investment amount and that are located in Targeted Employment Areas (TEA) as determined by the Department of Homeland Security (DHS). In our 27-project portfolio, we’ve focused on delivering EB-5 investments that pass stringent underwriting standards to protect our investors and their pathway to the United States. Our upcoming projects will adhere to the same due diligence process that has earned our firm 10 project repayments and five successful redeployment transactions.

“Second, we remain heavily involved with industry and government leaders in the pursuit of new EB-5 legislation that will provide certainty for the program and its use as an economic development tool. Our goal is to drive consensus on legislative reform, featuring strong integrity measures, and a revised minimum investment amount that will best serve the economic goals of the program.

“Third, EB5 Capital is closely following progress on the lawsuit filed against DHS in the United States District Court for the District of Columbia that could pause the new regulations, while industry stakeholders negotiate new legislation. We will continue to work with partners and share updates as this process unfolds.

“The EB-5 industry needs comprehensive reform to continue to deliver jobs to economically distressed areas, fulfill its mandate as a self-funded, job-creating program, and provide a pathway to the American dream for families willing to pursue it. I enthusiastically look forward to the next era of the EB-5 program.”

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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 six USCIS-authorized Regional Centers that serve 15 states and the District of Columbia. With a portfolio of 27 projects, EB5 Capital maintains a 100% project approval rate from the USCIS. For more information, visit http://www.eb5capital.com.