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.”
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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 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.