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DALLAS, Oct. 25, 2019 (GLOBE NEWSWIRE) -- CMB Regional Centers (CMB), a leader in the EB-5 investor visa program, announces the acquisition of Cascadia Regional Center, Inc., which has geographic scope covering the entire states of Washington and Oregon. The transaction was completed on October 17th, 2019, and increases the number of regional centers under CMB management to 17, giving CMB geographic scope that covers 24 States and Washington D.C. CMB Regional Centers has operated 73 separate EB-5 partnerships representing over 5,500 immigrant investors and over $3 billion in EB-5 capital raised since 2007. The $3 billion in EB-5 capital has been combined with $11 billion in developer capital to represent $14 billion in job creating capital, resulting in over 175,000 direct, indirect, and induced new American jobs.
This week, CMB expects to open its first EB-5 project within the geographic scope of the newly acquired Cascadia Regional Center. The new CMB Infrastructure Investment Group 71, L.P. (“CMB Group 71”) will serve as a lender to an affiliate of Fields Holdings, LLC to assist in the financing of the development and construction of a modern high-rise, off-campus student housing development. The project is located within the University District, adjacent to the University of Washington in Seattle, Washington. The project will feature modern furnishings and desirable amenities, including: a rooftop deck, indoor pool, fitness center, indoor basketball court, study room, lounge and first floor retail space. The 24-story residential tower will consist of approximately 230 units, 460 beds with a mix of studios and 1-5 bedroom units, along with 4,350 square feet of retail space, 27 underground parking spaces and a bike room with 86 stalls.
CMB Group 71 is expected to raise $27.5 million from 55 foreign national investors. The total project spending is expected to exceed $103 million and the estimated job creation from the development and construction is expected to be approximately 871 new American jobs. The project is located in a single census tract qualified targeted employment area (TEA) that complies with the current rules for TEAs and will qualify under the new rules for TEAs as promulgated by the USCIS to go into effect November 21, 2019.
About CMB Regional Centers
CMB is one of the oldest active regional center
operators in the EB-5 industry with 22 years of experience. CMB has over 5,500 investors from 102 countries that have chosen to invest in one of CMB’s 73 EB-5 investment opportunities. Of the families that have trusted CMB with their EB-5 pursuit, CMB has helped over 4,800 investor families achieve an I-526 approval, which allows them to apply for a permanent green card for themselves and their qualified family members. CMB has helped over 1,200 families achieve success of permanent residency in the United States and has returned capital to over 1,000 investors. There are very few regional centers that can come close to this level of success for their EB-5 investors.
CMB engages Prevail Capital, LLC, a broker-dealer registered with the SEC and a member of FINRA and SIPC, to be the administrative placement agent for all CMB EB-5 partnerships. If you would like to learn more about the EB-5 Investor Visa Program, please contact CMB Regional Centers at: Website, 1-309-797-1550 or Email Us.