DALLAS, July 09, 2020 (GLOBE NEWSWIRE) -- CMB Regional Centers (CMB) is excited to announce the opening of our next EB-5 investment opportunity, CMB Group 78 Hillwood California Build-to-Suit (Group 78). The Group 78 partnership is the 31st CMB EB-5 partnership in collaboration with top ten U.S. real estate developer, Hillwood Development Company and Affiliates (Hillwood). Group 78 will provide an up to $72.9 million loan for development and construction work on two state of the art logistic and distribution facilities intended for two Fortune 500 Companies headquartered in the United States..
The first development (Waterman TI) is located in San Bernardino, CA and will involve substantial tenant specific buildout of a roughly 1,000,000 square feet (93,000 square meter) class-A warehouse facility. Work will include multiple improvements to meet the needs of a major E-commerce tenant who has executed a 10-year lease for the facility.
The second development is Veterans Industrial Park I-215, which will be the development and construction of an approximately 2 million square feet (186,000 square meter) built-to-suit modern logistics and distribution facility in Riverside County, CA, constructed on a 142.5 acre (57.6 hectare) parcel of land. The project will be designed and constructed to meet the needs a major nationwide retailer.
The projects are located in one of the most sought after logistics markets in the United States, the Inland Empire region of Southern California. The project region is located within 80 miles of the Port of Los Angeles and the Port of Long Beach (Ports), which are the two largest and busiest ports in the Western Hemisphere and the United States. The Ports encompass 15,000 acres (water and land) and a combined 68 miles of waterfront. It is also important to note that the Ports support employment for nearly 1,000,000 people (port-connected jobs) throughout the region of Southern California and over 2.9 million throughout the U.S., and represents approximately 32% of all cargo imported into the U.S. economy (logisticsmgmt.com). As E-Commerce sales continue to grow throughout the world, more logistics facilities will be needed to keep up with the demand.
The San Bernardino International Airport (SBIA) is also located within 20 miles of both project sites, and is currently being used as a distribution hub by FedEx and UPS. A recent article published by THE SUN newspaper stated that in 2021, Amazon.com will also commence its air-cargo operations from the SBIA (THE SUN). The SBIA is located on the former Norton Air Force Base, where CMB and Hillwood have collaborated in many logistics and warehouse distribution centers in the past.
CMB and Hillwood have a long history of success when it comes to utilizing EB-5 capital for the development and construction of logistic facilities. As stated above, CMB and Hillwood have collaborated before on 31 EB-5 partnerships, which have a 100% approval rate on all partnerships that have been processed and adjudicated by the United States Citizenship and Immigration Services (USCIS). Of the 31 partnerships, 25 partnerships have I-924 or I-526 approval, 14 have received a repayment of their loan by the borrower, and investors in 5 partnerships have already received I-829 approvals from the USCIS. The CMB and Hillwood collaboration is by far the most successful regional center/borrower success story in EB-5 today. CMB has raised and loaned approximately $800 million in EB-5 financing through 30 previous CMB partnerships featuring Hillwood projects.
About CMB Regional Centers
CMB is one of the oldest active regional center operators in the EB-5 industry with 23 years of experience. CMB has over 5,700 investor families from 102 countries that have chosen to invest in one of CMB’s 75 EB-5 investment opportunities. As of today, CMB has helped nearly 1,400 families achieve I-829 petition approval to live and work permanently in the United States and has returned capital to over 1,400 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 NHK and 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.