DALLAS, Sept. 07, 2021 (GLOBE NEWSWIRE) -- CMB Regional Centers, America’s Most Trusted EB-5 Regional Center, is pleased to announce the full repayment of our 50th EB-5 partnership loan. CMB’s Group 56 Partnership provided $16.5 Million in EB-5 capital to an affiliate of Griffin Capital Company, LLC, for the development of Fairfield at Grant Park in Atlanta, Georgia. As is the experience for many previous CMB partnership loans, the CMB Group 56 EB-5 loan was fully repaid early (nearly one year) by the borrower.
“The reason we are the most trusted regional center in the EB-5 program is the result of how hard we work to earn and maintain that trust,” noted CMB Regional Centers President, Noreen Hogan. Our investors are at the heart of everything we do at CMB. We are grateful to the nearly 5,800 families from 103 countries who, over the years, have trusted CMB with their EB-5 investments, their dreams and goals of permanent residence in America. We share and celebrate this milestone of the full repayment of the 50th CMB EB-5 partnership with them.
“Celebrating the full repayment of our 50th partnership loan, also celebrates the communities where the EB-5 funds from CMB’s partnerships have found synergies with world class developers and local decision makers to create jobs for American workers,” Ms. Hogan added.
The Fairfield at Grant Park Project – Platform Apartments
CMB Group 56 partnered with Griffin Capital to deliver a high quality development of a residential community that contains sought after lifestyle amenities within the property’s geographic footprint. The Fairfield at Grant Park project, now named, Platform Apartments, is a multi-family residential complex of 324 rental units and a five-level parking structure immediately east of Atlanta’s central business district. Nearby, shopping, restaurants, public transportation, historic and lifestyle attractions are all within walking distance or a convenient ride on MARTA, Metropolitan Atlanta’s public transportation rail line.
Job Creation for Atlanta Region
The Platform Apartments development was situated in an area that was experiencing high unemployment of nearly 11%. At the time, the community’s high level of unemployment was 150% of the unemployment rate for the U.S. The economic impact of the Group 56 EB-5 capital – utilized as part of the project’s construction funding – helped stimulate the local and regional economy and created an estimated 872 EB-5 qualifying jobs in an area where they were needed most. Importantly, the resulting job creation and economic benefits came at no cost to taxpayers.
CMB’s Future Project Development and the EB-5 Program
Throughout the global COVID pandemic, and the current EB-5 program lapse, CMB Regional Centers has continued to develop EB-5 projects that remain focused on achieving the primary goals of EB-5 investors. CMB’s time-tested and trusted structure provides confidence to EB-5 investors by eliminating the conflicts found in vertically-integrated regional centers’ EB-5 offerings.
When the EB-5 program is once again extended by Congress, CMB will be ready to offer CMB Group 80, the 33rd project partnership combining the success of CMB with the expertise of Hillwood Development Company. The CMB/Hillwood partnership represents the most successful EB-5 Regional Center, Developer relationship in the history of the EB-5 Program.
CMB Group 80 will loan EB-5 funds for the development and construction of a pre-leased distribution warehouse facility in Homestead, Florida, within the Miami metropolitan area. The location will serve as a distribution hub for a Top 10 Fortune 500 e-commerce giant to serve the Miami area. Hillwood Development Company is the developer of this project and has secured a 180-month (15 year) lease with the tenant.
CMB, Trusted, Transparent EB-5 Leadership
CMB Regional Centers is one of the oldest active regional centers within the EB-5 industry with over twenty-four years of experience. Patrick F. Hogan, the CEO and Founder of CMB Regional Centers, has been involved in the EB-5 industry since 1994, and CMB’s first regional center was established in 1997.
In 2015, CMB set a standard in transparency for the EB-5 industry by commissioning independent third-party audits of all past and present CMB EB-5 partnership financials according to GAAP (Generally Accepted Accounting Principles). The scope of work for the audits included CMB’s track record and numbers of project and individual petition approvals for CMB’s investors. CMB continues to lead by example and has commissioned the same independent third-party audits in each year since.
Today, CMB operates 15 Regional Centers and has scope within 23 states and Washington D.C. CMB has experience in collaborating with all levels of government and private industry to achieve the primary objective of the EB-5 program by providing economic impact and creating jobs in the areas of the country that need them the most.
CMB has raised over $3 billion in EB-5 investment capital which has been combined with more than $11 billion in public and private funds. This combination of capital and the multiplying effect of spending is projected to generate approximately 200,000 (direct, indirect, induced) new American jobs through projects funded with CMB’s EB-5 capital since 2007.
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To learn more about the EB-5 Investor Visa, or CMB’s current EB-5 offerings, please contact us to schedule a free initial consultation with a CMB Investor Relations Manager. Our contact information is email or +1-309-797-1550
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.
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fb63844e-fd45-460b-bf26-90bc1039fb32
