EB5 Affiliate Network (EB5AN) is pleased to announce that The Kolter Group (Kolter) has repaid EB-5 investor funds for eligible investors in its VUE Sarasota luxury condominium project in Sarasota, Florida.
Importance of EB-5 Investment Capital Repayment
Repayment of funds is a major consideration for EB-5 investors, who desire not only to obtain their green cards but also to have their at-risk investment capital repaid.
Many EB-5 project developers are unable to demonstrate a proven track record of successful EB-5 investor repayment. As part of conducting due diligence on any EB-5 project, prospective EB-5 investors should carefully consider whether the project’s developers or operators have ever repaid EB-5 funds. The safest projects have developers or operators with a history of safeguarding investor funds and ultimately repaying them.
“EB-5 investors are typically concerned with two priorities,” said Sam Silverman, co-founder and managing partner of EB5AN. “They want to obtain their green cards, and they want to be repaid their investment capital in a defined period. Kolter’s continued careful management of EB-5 funds offers EB-5 investors peace of mind.”
EB5AN and Kolter Project History
EB5AN and Kolter have collaborated on more than 10 prior EB-5 investment projects in the southeastern United States. All EB-5 capital investments in these projects either remain in good standing or have been repaid by Kolter. Kolter has a proven track record of repaying its EB-5 and non-EB-5 investors and has never defaulted on a loan. All EB5AN–Kolter collaborations have a 100% financial success record and USCIS project approval to date.
Based in Palm Beach County, Florida, Kolter is an award-winning, diversified real estate development and investment firm whose projects have an expected value in excess of $19 billion. With an operational footprint in the southeastern United States, Kolter’s market and sector knowledge has positioned the firm to capitalize on emerging trends in U.S. real estate.
One of Kolter’s most successful projects, VUE Sarasota is a luxury waterfront condominium development that began construction in June 2014. The project was 100% presold before construction was completed. This project was structured to provide minimal risk to EB-5 investors: the project was not dependent on EB-5 capital for completion, and over 40 EB-5 eligible jobs per investor have been assigned to each EB-5 investor, substantially more than the 10 jobs required.
Saltaire St. Petersburg Luxury Condominiums
EB5AN and Kolter are currently accepting EB-5 investors in another condominium project, Saltaire St. Petersburg. Like VUE Sarasota, Saltaire St. Petersburg is a luxury waterfront condominium development. Located in downtown St. Petersburg, Florida, the condominium is currently under construction, and 100% of the 192 units are already sold.
Saltaire St. Petersburg offers investors best-in-class EB-5 project features, including a high job creation margin and repayment, completion, and I-526E approval refund guaranties. All jobs required for EB-5 investors have already been created. The project is located within an urban targeted employment area (TEA), which qualifies it for the lower investment minimum amount of $800,000 and a 10% visa set aside that reduces the wait time for investors obtaining green cards after I-526E approval.
Twin Lakes Georgia Single-Family Housing
For investors interested in better access to a reserved EB-5 visa, EB5AN and Kolter are also currently accepting investments in Twin Lakes Georgia, a single-family home community located within a rural TEA.
Twin Lakes Georgia also offers EB-5 investors best-in-class EB-5 project features. These features include a high job creation margin, a fixed preferred return, and an I-526E approval refund guaranty. All jobs required for EB-5 investors have already been created.
Since the Twin Lakes Georgia project is located within a rural TEA, it qualifies for the lower investment minimum amount of $800,000 and a 20% visa set aside. Access to a reserved EB-5 visa may be particularly attractive to investors from nations experiencing visa retrogression—or more EB-5 investors than available EB-5 visas—since reserved visas are not subject to retrogression. Rural projects tend to be less common than urban projects, and twice as many rural TEA set-aside visas are available, which means rural TEA visas are likely to remain available while others become oversubscribed.
For more information on these best-in-class EB5 project, please schedule a free consultation with EB5AN.