WASHINGTON, June 07, 2024 (GLOBE NEWSWIRE) — EB5 Capital is pleased to announce the first large wave of individual I-526 and I-526E petition approvals for investors in its SF Gateway Marriott (JF27) project. An I-526/I-526E approval is a significant step in the EB-5 immigration process as it qualifies the investor and their immediate family members for conditional permanent residency in the United States.
EB5 Capital has raised foreign investor funds across approximately 40 EB-5 projects throughout the United States, including half a dozen hotel projects in California. The SF Gateway Marriott (JF27) project, also known as Gateway at Millbrae Station, is a $300 million mixed-use development containing 400 apartment units and 200,000 square feet of commercial space in Millbrae, California, a suburb of San Francisco in San Mateo County. EB5 Capital raised foreign capital from 60 investors, representing a variety of nationalities, to finance a portion of the capital stack for the Residence Inn-branded hotel component of the larger development. The project opened to the public in early 2023 and created over 800 jobs as a result of the investment.
“We are happy that over a dozen investors have recently been approved in this project as several of them filed their cases with USCIS before the outbreak of the Covid-19 pandemic in late 2019,” said Molly FitzGerald, Director of Investor Communications and Engagement at EB5 Capital. “Our clients have patiently waited for USCIS to adjudicate their cases and they can now move on to the next step in their immigration process.”
The SF Gateway Marriott (JF27) project has created more than the number of jobs required by the EB-5 program to support all the investors with the remainder of their immigration journey at the I-829 stage when they apply for permanent residency in the United States. Until then, EB5 Capital is looking forward to additional I-526/I-526E investor approvals soon and will continue to keep its clients informed on the operations of the hotel.
About EB5 Capital
EB5 Capital provides qualified foreign investors with opportunities to invest in job-creating commercial real estate projects under the United States Immigrant Investor Program (EB-5 Visa Program). Headquartered in Washington, DC, EB5 Capital’s distinguished track record and leadership in the industry has attracted investors from over 75 countries. As one of the oldest and most active Regional Center operators in the country, the firm has raised over $1 billion of foreign capital across approximately 40 EB-5 projects. 100% of our investors’ funds are protected by the Federal Deposit Insurance Corporation (FDIC) insurance prior to their deployment into our projects. Please visit www.eb5capital.com for more information.
Contact:
Katherine Willis
Director, Marketing & Communications
[email protected]
GlobeNewswire Distribution ID 9150665