DALLAS, Feb. 23, 2022 (GLOBE NEWSWIRE) -- We’re excited to announce that CMB Regional Centers’ (CMB) Group 25 just received its first I-829 approval! This is a life changing milestone for the CMB limited partner that was approved. It is also great news for other investors in this partnership, as it means the USCIS determined that the Group 25 investment generated the requisite number of jobs to satisfy the requirements of the EB-5 program for each of the investors.
The I-829 petition is the final step in the immigration process for EB-5 investors. An approval removes all EB-5 conditions and grants permanent U.S. residence to the petitioner and their immediate family. Once permanent residence is achieved, the investor can either choose to pursue American citizenship, or complete a simple green card renewal every 10 years.
Group 25 included 52 EB-5 investors from China, the Dominican Republic, Hong Kong, India, Russia, and South Korea. The partnership made a loan of $26 million to Stillwater Capital Partners (“Stillwater”) to partially finance the construction of three residential developments in Texas:
The Peak Street Townhomes is a 180 unit luxury townhome community located just north of downtown Dallas.
The Hyde Park Apartment Homes are located in Austin, TX. The complex includes 210 modern apartment units on a 2.4 acre site.
The Alamo Heights Apartment Homes include 107 units on a 4.28 acre site in San Antonio, TX.
Group 25 opened for subscription in 2014 and was the first collaboration between Stillwater and CMB Regional Centers. The loans Group 25 extended to finance these projects were fully repaid in 2020, and the partnership has since returned funds to eligible EB-5 investors.
Founded in 2006, Stillwater is a fully integrated, private real estate company with expertise in sourcing, underwriting, developing, acquiring and managing a vast spectrum of real estate products. Although Stillwater has experience across all real estate products, their primary focus is on residential developments, both single-family and multifamily projects. To date, Stillwater has participated in over $8+billion in real estate transactions and have completed in excess of 6,500 combined residential units. Stillwater has 70+ team members with offices located in Dallas, Frisco, Austin, Phoenix, Nashville and Denver.
Stillwater is a cross-platform partner of CMB affiliate, NHK Capital Partners. NHK Capital Partners, is a Hogan family company focusing on investment opportunities in the U.S. alternative investment sector. NHK’s mission is to provide risk adjusted returns to investors by generating current income from its debt investments and/or capital appreciation from its equity related investments. The company was founded in response to requests from former CMB limited partners searching for opportunities to grow their wealth after successfully immigrating to the United States through the EB-5 program. NHK has partnered with Stillwater to develop four residential projects all across Texas.
CMB and NHK continue to partner with Stillwater to produce high quality investment options for our clients. If you’d like more information about our current offerings, please contact CMB at: www.cmbeb5visa.com; info@cmbeb5visa.com; or +1-309-797-1550, or NHK HERE.
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/5ff87962-5463-4f85-b4c9-7f22d6c00078
