EB5 Capital’s partners Republic and Huntington Hotel Group (HHG) recently broke ground on our SF Gateway Marriott project, located in Millbrae, CA on December 4. Read more about the event.
EB5 Capital Announces Fifth Redeployment of EB-5 Funds
Washington, DC – EB5 Capital announced today the redeployment of its fifth repaid partnership, totaling $46 million in redeployed EB-5 capital to date. The United States Citizenship and Immigration Services’ (USCIS) requires that EB-5 funds be held “at-risk” throughout each investor’s respective sustainment period. Redeployment enables EB-5 investors to continue their immigration process in the event that their partnership’s initial investment is repaid earlier than the time an investor is eligible to receive a return of their funds under the EB-5 Program requirements.
“We are abundantly confident that our redeployment strategy is a conservative and effective approach to maintaining USCIS-required ‘at-risk’ status, while maximizing investment exit opportunities for those who become eligible for repayment,” said Angelique Brunner, EB5 Capital’s CEO.
EB5 Capital currently redeploys EB-5 funds to fill specific financing needs of commercial real estate projects. Developments selected to receive redeployed funds undergo a stringent due diligence process matching the company’s previous 27 EB-5 projects, which include 10 fully repaid projects. Carrying the investment from one commercial real estate project to another is a conservative interpretation of USCIS’ requirement that funds be redeployed into investments “within the scope of” the original investment.
“We’ve taken a considerable amount of time thinking through how to mitigate as much risk as possible to our investors’ immigration process,” said Brian Ostar, EB5 Capital’s Senior Vice President of Global Operations. “Protecting their permanent Green Card petition is our number one priority. To date, 41 investors have seen their initial investment repaid by project sponsors, subsequently redeployed into another project, and then repaid to them in full once they have completed their sustainment period.”
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About EB5 Capital
EB5 Capital is a leader in the EB-5 immigrant investor industry, raising over $750 million in foreign capital from investors in more than 65 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 27 projects, EB5 Capital maintains a 100% project approval rate from the USCIS. For more information, visit http://www.eb5capital.com.
Republic Urban Properties, Huntington Hotel Group, and EB5 Capital Celebrate Gateway at Millbrae Station Groundbreaking
Washington, DC – Republic Urban Properties joins Huntington Hotel Group (HHG), and EB5 Capital in celebrating the groundbreaking of the Gateway at Millbrae Station development in Millbrae, CA. Located immediately adjacent to the San Francisco International Airport (SFO) and Bay Area Rapid Transit’s (BART) Millbrae Station, this 17-acre mixed-used development will feature a Marriott-branded hotel, office space, residential, and significant retail installments. The entire complex is slated for completion in 2025.
“The BART Millbrae Station represents one of the best transit orientated development sites in the nation and we are proud to have EB5 Capital as a financial partner in the Marriott Residence Inn Hotel, which will be a huge asset to the overall development project,” said Michael R. Van Every, President and CEO of Republic Urban Properties LLC of San Jose, CA.
The groundbreaking ceremony is scheduled for Wednesday, December 4 at the Millbrae BART Station and will begin at 11:15 am (Pacific). Representatives from BART, the City of Millbrae, and project partners will offer remarks and share additional details about this development.
“The Gateway Millbrae project is a beautifully designed transit orientated development,” said Kevin Keefer, Principal Huntington Hotel Group. “We are excited to begin construction on the Residence Inn by Marriott and to be a part of this Millbrae Bart Station project.”
“We’re very excited to be a part of this job-creating San Francisco area project,” said Jon Mullen, EB5 Capital’s Senior Vice President of Investments. “This will be our firm’s third capital investment in a project serving the Silicon Valley region and seventh in the state of California. We’re thrilled to join Republic and HHG, and we’re looking forward to seeing the start of construction.”
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About Republic
Republic Family of Companies is a privately owned, full-service real estate investment, management, and development enterprise encompassing several businesses, including Republic Holdings Corporation, Republic Properties Corporation, Republic Urban Properties, Republic Metropolitan (Re/Met), and Republic Land Development.
About Huntington Hotel Group
Huntington Hotel Group is a company specializing in the development, operation and management of premier brand hotels. The company was founded in 1998 by Kevin Keefer and Brent Andrus with the vision of developing and managing premium brand select-service hotels in markets with high barriers to entry. Huntington Hotel Group has developed over 20 hotels since inception and currently operates a portfolio of 17 select service hotels with a total of over 2,600 rooms located in California, Maryland, North Carolina, Oregon, Texas, Utah and Virginia.
About EB5 Capital
EB5 Capital is a leader in the EB-5 immigrant investor industry, raising over $800 million in foreign capital from investors in more than 60 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 27 projects, EB5 Capital maintains a 100% project approval rate from the USCIS. For more information, visit http://www.eb5capital.com.
Investor Spotlight: Eduardo Rovira Martinez del Campo
Since 2008, EB5 Capital’s team has had the privilege to frequently interact with a diverse and accomplished set of investors from 65 countries who have all decided to make the United States their new home. Every so often, through our Investor Spotlight Series, we enjoy taking the opportunity to feature some of our past clients and share their immigration experience with you.
Our team met with Eduardo Rovira Martinez del Campo in Polanco, Mexico (the Beverly Hills of Mexico City), where we shared an authentic Oaxacan meal and hours of engaging conversation. Eduardo, an investor in our JF13 project, is a father of three, avid biker, tennis fan, and a highly successful (but still humble) CEO.
His infectious laugh and extensive knowledge of Mexican Mezcal charmed us. His passion for his country was inspiring and his professional accomplishments made us proud to be his Regional Center of choice. Eduardo is the CEO of one of the largest business process outsourcing companies in Latin America, Atención Telefonica.
Atención Telefonica offers high-quality, call center services, such as live responders, to large conglomerates in need of native English and Spanish-speaking support. His company’s 90 percent customer satisfaction rating has helped him grow his business throughout Mexico, expanding into five different locations with over 4,000 collaborators. His business has served well-known companies like Microsoft, Cisco, Avaya, and Compaq. Find below some of the questions we asked in 2018:
What were the main reasons why you decided to immigrate to the United States? How would you summarize the process thus far?
There were three main reasons that motivated us to make the decision to move to the U.S. The first was the drive to explore and conquer the American market for our business process outsourcing services, the second was to learn a different culture and language, and the third was to live in a safer place for my family.
In the very beginning, the adjustment was really complicated. It took us one year just to understand how things work here, but after the second year we knew we wanted to stay here to give our children the opportunity to compete as equals with the rest of the world. Without citizenship, my children couldn’t work in the States or get access to scholarships.
Tell us a little about your company, Atención Telefonica?
Atención Telefonica was founded in Mexico in 1995. The inspiration came from the need to offer young people the opportunity to work and keep studying… at that time there were no options for them.
Our corporate culture can be summarized in something really simple, our most important asset is our people. If my people are happy and well treated, the clients will be happy.
What advice do you have for entrepreneurs, specifically for other potential and past EB-5 investors who are thinking about starting a business in the United States?
My advice is to keep trying, work hard, be passionate and learn from your mistakes. You need to be resilient! For those considering coming to the US, it has to be a family project so first you need to be sure to have a nice environment.
With such a dynamic lifestyle, where is your favorite place to travel and why?
I travel very often, mainly to different cities in Mexico. I also frequently travel to Puerto Vallarta – we love our condo and speed boat there. Every year we make a big trip to another country in order to keep learning.
If you would like to connect with Eduardo to discuss his journey, or if you are one of our past investors and you’re interested in signing up for our Investor Spotlight Series, please contact us at spotlight@eb5capital.com.
