DALLAS, July 03, 2024 (GLOBE NEWSWIRE) -- We are thrilled to announce that CMB Group 91 has received its I-956F approval from the United States Citizenship and Immigration Services (USCIS) in less than five months. This swift approval marks a significant milestone and sets a new benchmark for approvals in the ‘High Unemployment’ EB-5 investment category. Most importantly, the approval of the I-956F allows USCIS to begin adjudicating I-526E petitions of the 99 limited partners in Group 91.
CMB Group 91: DTW Air Cargo provided $79.2 Million in financing for the construction of a 302,600 square foot air cargo facility (including various support facilities) at the Detroit Wayne County Metropolitan Airport (DTW). DTW is one of the world’s largest air transportation hubs with more than 1,100 flights per day to and from four continents. The facility will be utilized by a Fortune 500 major air cargo operator. Hillwood Development Company served as the borrower and project developer for the project.
The Group 91 EB-5 investment is now fully subscribed and qualified under the ‘High Unemployment’ set-aside category implemented by the EB-5 Reform and Integrity Act of 2022 (RIA). The approval of this EB-5 investment partnership in under 5 months provides some insight into the way the USCIS is prioritizing the various set-aside categories. This ‘High Unemployment’ investment’s adjudication time rivals some of the fastest processing we have seen, in even the ‘Rural’ category.
This quick adjudication is an important consideration for prospective investors weighing the financial risks of ‘Rural’ EB-5 opportunities against the potential for faster processing. The location of a real estate development, (in particular projects in rural areas) has a significant impact on the financial risk for investors. Whether ‘Rural’ or ‘High Unemployment’, CMB holds its projects to the same standards and will only offer EB-5 projects that balance the inherent financial risks of the investment with the potential for priority processing as introduced by the RIA in 2022.
CMB Regional Centers (CMB) and Hillwood Development Company together represent one of the most successful lender-borrower relationship in the EB-5 industry and are both leaders within their own respective industries. CMB continues to be recognized as a pioneer within the EB-5 industry with over 25 years of experience assisting families from 103 countries around the world with their goal of immigrating to the United States through the EB-5 program. Hillwood, as one of the largest and most successful developers in the U.S., has and continues to develop projects for over 90 companies listed in either Fortune 500 or Global 500.
CMB currently has several EB-5 investment opportunities available for subscription. Please contact us HERE to learn more.
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