On October 23, 2024, EB5AN hosted a lunch gathering of immigration attorneys at the Black Tap restaurant in Miami. The event celebrated the attorneys who have played a crucial role in helping EB5AN’s investors successfully achieve their immigration goals.
Sam Silverman and Mike Schoenfeld, managing partners of EB5AN, discussed the company’s ongoing commitment to transparency within the EB-5 industry. They highlighted how EB5AN supports this commitment by conducting educational webinars that inform potential investors about the EB-5 program. These webinars provide valuable insights into investment opportunities and keep investors updated on industry developments.
Emphasizing the importance of informed decision-making, Sam and Mike reiterated their dedication to providing investors with the detailed information needed to make educated investment choices. By fostering an environment of trust and openness, they aim to ensure that investors feel confident throughout the investment process. To facilitate this, they make it a priority to speak personally with investors, offering an open line of communication to answer questions and address any concerns.
The luncheon also underscored the vital role that experienced immigration attorneys play in the success of an EB-5 investor’s petition. Sam and Mike emphasized that the success of their clients is deeply connected to the expertise of independent legal professionals. Immigration attorneys are essential for navigating the complex regulations of the EB-5 program, providing unbiased advice to protect investor interests, and streamlining the application process to reduce delays and potential obstacles.
During the event, Sam and Mike shared their excitement about EB5AN’s latest EB-5 investment projects in Florida, Idaho, and North Carolina. These projects present diverse opportunities for investors looking to fulfill their immigration goals.
Tamarack Resort
Tamarack Resort is structured as a secured debt investment in the construction and development of a master-planned all seasons resort with world-class amenities near Lake Cascade in Idaho.
Key Project Highlights:
- The project features a short 4-year EB-5 loan term.
- The EB-5 loan is secured with a 100% equity pledge and senior mortgages on property in Tamarack Resort.
- USCIS has approved the I-956F exemplar applications for Tamarack Resort.
- The project has already created over 2,336 EB-5 eligible jobs, far more than needed for all EB-5 investors to obtain their Green Cards.
- A senior construction loan is already in place, and the project is fully funded.
- Construction is ongoing, with 103 of 128 village condominiums sold and closed since 2020 representing $100+ million in real estate sales.
- The project’s rural TEA status qualifies EB-5 investors for faster I-526E processing.
- PRXY Fund Services will serve as a third-party fund administrator.
ONE Tampa
ONE Tampa is structured as a secured debt investment in the construction and development of a 42-story, luxury condominium tower in downtown Tampa, Florida.
Key Project Highlights:
- The project offers a shorter 3-year loan term, reducing duration of funds at risk.
- The EB-5 loan has a repayment guaranty from a diversified Kolter parent company.
- The project’s I-956F exemplar application has been approved by USCIS.
- Construction is well underway; $32M+ already spent.
- Strong sales to date with 100 of 225 total condo units (44%) already presold, representing $170M+ in sales revenue as of August 31, 2024.
- The project enjoys a substantial job surplus with 2,966 total jobs at completion; only 1,000 jobs are needed for 100 EB-5 investors.
- Kolter is one of the largest private developers in the United States and has invested in real estate projects totaling $30B+ in value since 1997; Kolter has completed over 100 residential projects, delivered over 27,000 units, and never failed to repay a loan. All EB-5 investments in Kolter projects are in good standing or have been repaid.
- PRXY Fund Services will serve as a third-party fund administrator.
Rocky River
Rocky River is structured as a secured debt investment in the construction and development of a 1,120 single-family home Cresswind community in Locust, North Carolina.
Key Project Highlights:
- Rocky River follows 13 prior successful Cresswind communities, including Twin Lakes Georgia. To date, Cresswind communities have together sold, built, and delivered over 5,500 homes to buyers.
- Rocky River is one of 20+ prior EB-5 regional center projects by EB5AN and Kolter, with all such prior projects achieving 100% financial success and USCIS project approval.
- Each EB-5 investor’s 5-year EB-5 loan term starts on release to the project and is independent from other EB-5 investors’ loan terms.
- The EB-5 loan has a repayment guaranty from a diversified Kolter parent company.
- The project is expected to create over 7,020 EB-5 eligible jobs, far more than needed for all EB-5 investors to obtain their Green Cards.
- Rural TEA status means access to the 20% EB-5 visa set-aside category, which reduces investors’ waiting time for a Green Card after their I-526E approval.
- PRXY Fund Services will serve as a third-party fund administrator.
For more information on available EB-5 projects, please schedule a one-on-one call with EB5AN.
