DALLAS, Aug. 21, 2024 (GLOBE NEWSWIRE) -- CMB Regional Centers (CMB), one of the most experienced regional center operators in the EB-5 industry, today announced that its Group 86 - Gable House Apartments project has received Form I-956F approval from the United States Citizenship and Immigration Services (USCIS). A limited number of units remain available for subscription in this I-956F approved CMB EB-5 partnership.
“We are thrilled to see yet another of our high unemployment (TEA) projects approved by the USCIS in less than 5 months, surpassing the processing time we have observed for even the rural category,” said Garrett Connors, Vice President of Investor Relations at CMB. “With only a limited number of EB-5 investment units still available for this project, the I-956F approval marks a significant step forward for the development and a major milestone for our investors’ United States immigration pursuits.”
As one of the first major multi-family projects in Torrance, California, in approximately 50 years, the Hillwood Gable House Apartments project encompasses the development and construction of a 218-unit, mixed-use complex. Featuring a sky deck, pool lounge, social club, and other best-in-class amenities, the development will be located in the city’s urban core of the Del Amo Business District.
The milestone for the CMB Group 86 EB-5 partnership means investors’ I-526E petitions could be immediately adjudicated by the USCIS since the I-956F has been approved. The approval marks the eighth CMB EB-5 partnership to achieve an I-956F approval under the EB-5 Reform and Integrity Act of 2022 (RIA). Previously approved partnerships include:
- CMB Group 78 – Hillwood California BTS
- CMB Group 81 – Inland Empire Industrial
- CMB Group 82 – Hazleton Logistics Park
- CMB Group 83 – Hillwood SOMI Hayward
- CMB Group 87 – Kona Bay Hampton Hotel
- CMB Group 88 – Hillwood Detroit Fairgrounds
- CMB Group 91 – Hillwood DTW Air Cargo
This is the seventh I-956F approved CMB EB-5 project in conjunction with Hillwood Development Company. With over 40 EB-5 projects and more than $500 million in loan repayment to investors, CMB and Hillwood Development Company have cultivated one of the most successful lender-borrower relationships in the EB-5 industry.
“This latest achievement is an exemplary testament to the strength of our partnership with Hillwood Development Company and to CMB’s relentless dedication to helping families make their immigration dreams a reality,” said Noreen Hogan, President at CMB. “We could not be more excited about this latest, timely I-956F approval, an achievement that brings our investors that much closer to realizing their goal of immigrating to the United States.”
About CMB Regional Centers
CMB has been a leader in the EB-5 industry for over 27 years; its first regional center designation was approved in 1997. CMB has assisted over 6,400 investor families, from over 100 countries, in their pursuit of immigrating to the United States. CMB currently maintains a 100% project approval rate on partnerships that have undergone USCIS adjudication, providing compliant and approvable partnerships to those seeking immigration to the U.S. through the EB-5 program. To date, CMB has repaid over $1.3 Billion to its investor families.
