DALLAS, Aug. 27, 2022 (GLOBE NEWSWIRE) -- CMB is proud to announce that CMB Group 78, which is funding a pair of pre-leased logistics facilities in the San Bernardino, Riverside area of southern California, has fully subscribed all of its available units as investors file their I-526E petitions. Group 78 is the first partnership CMB opened following the enactment of the EB-5 Reform and Integrity Act of 2022.
With nearly 2,700 jobs being created through the development and construction, Group 78 allowed for $75.5 million of EB-5 funding while ensuring that each investor would create nearly triple the ten jobs required. We look forward to seeing the continued progress that our borrower, an affiliate of Hillwood Development Company, makes over the coming months to bring these quality projects to completion.
With the closure of Group 78, CMB now has two top-tier investment opportunities available for subscription by interested immigrant investors. CMB Group 82 and CMB Group 83 are each set to fund projects being developed by Hillwood.
CMB Group 82 announced earlier this week that it had received an official receipt notice from USCIS, which will allow investors to file their I-526E petition. With new legislation requiring that the project petition receives its receipt notice by USCIS prior to individual petitions being accepted, this is a big step for investors looking to fund and file immediately. The target project of Group 82 is a build-to-suit logistics facility that has been pre-leased to a major Fortune 500 company for seven years. The project is located in Hazleton, Pennsylvania and significant job creation has already taken place, meeting the job creation requirement for all investors in the partnership.
CMB Group 83 will provide financing for various phases of development and construction of a residential condominium and mixed-use project in the San Francisco bay area. CMB has filed the project petition (I-956F), and is currently awaiting receipt notice from USCIS. Now is a great time to consider Group 83, as it will fill quickly once issued a receipt notice.
Hillwood is a Dallas based multi-billion dollar real estate developer specializing in logistics as well as master-planned residential communities. CMB and Hillwood have developed the strongest lender-borrower relationship in EB-5 today with over 30 separate EB-5 partnerships serving as a lender to Hillwood projects. CMB and Hillwood continue to maintain a perfect track record with project approvals at both the I-526 and I-829 stage.
CMB is excited for the future, and pleased to continue offering high quality investment opportunities that meet and exceed the requirements of the new legislation. If you have any questions, we can be contacted at info@cmbeb5visa.com or 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1cdd8a51-088a-4eba-8ebc-08d3d3b539ef
