Washington, DC – EB5 Capital announced today its $39 million loan in its DC Hilton Hotels project has been repaid in full by its developer, Baywood Hotels.
“The full repayment of an EB-5 investment by a developer is an important moment in our business cycle,” said Brian Ostar, EB5 Capital’s Senior Vice President of Global Operations. “The return of funds reaffirms our investment due diligence process and reflects well on our team’s ability to identify viable EB-5 investment opportunities for our clients.”
The dual-branded Hilton hotel complex is a 120-room Hampton Inn and a 114-suite Homewood Suites and opened for business in August 2016. Both hotels have consistently increased their market share in the very competitive Washington, DC hotel market. The project has fully satisfied the EB-5 program requirements by creating enough qualifying jobs for 78 investors who are now receiving their I-829 petition approvals.
“Selecting a sound project is a key component of successfully moving our clients through their EB-5 immigration and investment process,” said Jon Mullen, Senior Vice President of Investments. “We’re looking forward to continuing our firm’s track record on securing investment opportunities that satisfy the objectives of the EB-5 program as well as minimizing risks to our investors.”
###
About EB5 Capital
EB5 Capital is a leader in the EB-5 immigrant investor industry, raising foreign capital from investors in more than 55 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 25 projects, EB5 Capital maintains a 100% project approval rate from the USCIS. For more information, visit http://www.eb5capital.com.