CanAm Secures $1.8B Construction Loan From Blackstone Mortgage Trust
The $1.8 billion construction financing from Blackstone Mortgage Trust represents their largest ever single asset origination and third construction financing for Tishman Speyer. $1.9B of equity was raised from various pension funds, individual investors and EB-5 fundraising.
Boston Properties to Join as Partner on Moinian's 3 Hudson Boulevard
Sources familiar with the negotiations said the Boston-based real estate investment trust signed a term sheet last month to provide nearly $500 million of equity. Moinian has gone after between $250 million and $350 million of EB-5 financing.
Orlando Hyatt House Hotel Construction Proceeds With $7 Million in Fresh Financing
The construction of the Hyatt House hotel in Orlando will proceed after $7 million in preferred equity financing was secured to cover most of a construction cost increase. A joint venture of Whitestone International Drive Associates LLC and Robert Lubin, who secured foreign investment for the project through the EB-5 visa program.
Vote on $28M Loan Guarantee to Save Balsams Grand Hotel in Limbo
The New Hampshire Business Finance Authority said it didn't have all the answers yet to vote on a $28 million state loan guarantee to revitalize the Balsams resort. Other financing includes $20 million in developer equity; $35 million in other equity, including preferred equity from investors; $18 million in equipment lease financing for the ski area; $53 million in construction financing; and $15.4 million in funding through the EB-5.
Dollars from China Fuel a New Washington Vineyard and Resort
The 386-acre wheat farm near Walla Walla, Washington, purchased by winemaker Justin Wylie, has been transformed into a vineyard and resort with help from Chinese investors. Wylie's stalled hopes for a vineyard gained life when a group called American Lending Center (ALC) bought his land for $2.3 million, modified the business plan to better fit EB-5 requirements, and brought in needed capital.
Extell Sells $107M in Shares at its $4B Central Park Tower Condo Project
The condo project's capital stack includes EB-5 money, a $300 million investment from SMI USA, and more than $400 million from Nordstrom for the seven-story flagship at the base of the tower. Per the terms of financing, Extell must sell $500 million worth of apartments in three years, by December 2020, and must pay down $300 million of the JPMorgan Chase principal.
Film Makers Look To Foreign Investors To Fund Independent Films
The idea of using EB-5 financing for independent film financing idea has gained some attention from people in the independent film making community. David Epstein, a Nashville entertainment attorney, calls foreign investor immigration a "breakthrough strategy" and "a new and innovative way of using good film scripts both as part of an investor immigration strategy.
New Luxury Apartments Are Coming Soon to a New Part of Charlotte
The $52 million project was funded in part with money from EB-5 investors, EB-5 investors put $10.5 million into the project. Sycamore at Tyvola will include 288 one- and two-bedroom apartments and will range in size from 792 to 1,211 square feet.
Brazilians Are Getting in on the EB-5 Game
The United States welcomed 282 Brazilian immigrants last year through the EB-5 investor visa program, as the country rose to become the third largest user of EB-5 visas for the first time, a report from the U.S. Department of State shows. Mainland Chinese nationals still dominate the program.
Baker Tilly Expands EB-5 Source of Funds Specialization
The need for source of funds specialization within the EB-5 immigrant investor program continues to grow, and is a key piece in the investment process. Baker Tilly welcomes Stephen Pazan to its growing EB-5 services practice.