Washington, DC – EB5 Capital announced today its $44.5 million preferred equity investment in Douglas Development’s 1900 Half Street project closed on March 5th, 2019, finalizing financing terms of the deal.
“We’re extremely excited to be one of the partners in this much-needed waterfront project,” said Brian Ostar, EB5 Capital’s Senior Vice President of Global Operations. “This is our third EB-5 project with Douglas Development and we’re looking forward to helping them contribute to the revitalization of Washington DC’s Buzzard Point neighborhood.”
EB5 Capital is contributing a $44.5 million preferred equity investment in Douglas’ office-to-multifamily housing conversion. The building will feature 453 units, over 15,000 square feet of ground-floor retail, and sits directly along the Anacostia River providing unmatched waterfront views. 1900 Half Street is currently under construction and on track to create over 1,300 EB-5 jobs. The 89 foreign investors in the EB-5 partnership hail from various countries, including Canada, China, Eritrea, Hong Kong, India, Iran, Israel, Korea, Pakistan, Russia, Taiwan, Ukraine, the United Kingdom, Venezuela, and Vietnam.
“We’re thrilled about the diverse group of EB-5 investors who joined this project,” said Jon Mullen, Senior Vice President of Investments. “Every EB-5 investor has a different set of criteria for what they would deem as a suitable investment. We’re proud this project was able to confidently meet the needs of our 89 EB-5 investors.”
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About EB5 Capital
EB5 Capital is a leader in the EB-5 immigrant investor industry, raising over $600 million in 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.
