EB5 Capital’s Investment in The Highline Repaid Early
WASHINGTON, Sept. 13, 2019 (GLOBE NEWSWIRE) -- EB5 Capital announced today its $27.5 million preferred equity investment in The Highline, a Washington, DC multifamily project, has been repaid in full by the partnership with Level 2 Development, Clark Enterprises, and FCP during a recapitalization of the property.
“The full repayment of an EB-5 investment by a developer is an important moment in our business cycle,” said Gustavo Marchesini, EB5 Capital’s Investor Relations Manager. “The return of funds reaffirms our investment due diligence process and reflects well on our team’s ability to identify viable EB-5 investment opportunities for our clients.”
The Highline is a 318-unit Class A apartment building with approximately 10,000 square feet of ground floor retail. Located in the Union Market neighborhood of Washington, DC, The Highline represents one of six EB-5 investments made by EB5 Capital, all located within walking distance of one another. It brings additional housing to the neighboring NoMa neighborhood which serves as the headquarters for government agencies such as The Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), the Department of Justice (DOJ), the U.S. Securities and Exchange Commission (SEC), and the U.S. Department of Education, as well as organizations such as CNN and XM Satellite Radio.
The project has fully satisfied the EB-5 program requirements by creating enough qualifying jobs for 55 investors.
“Successfully returning the funds of an EB-5 investment is largely dependent on the Regional Center’s ability to partner with best-in class developers and structure the investment to mitigate any potential risks. We take great pride in the level of scrutiny potential deals go through and The Highline reaffirms that our due diligence process nets a return of funds for our investors,” said Mariana Gomez, Vice President, Corporate Communications & Operations.
About EB5 Capital
EB5 Capital is a leader in the EB-5 immigrant investor industry, raising foreign capital from investors in more than 55 countries for investment in job-creating real estate projects across the United States. EB5 Capital owns and operates six USCIS-authorized Regional Centers that serve 15 states and the District of Columbia. With a portfolio of 25 projects, EB5 Capital maintains a 100% project approval rate from the USCIS. For more information, visit http://www.eb5capital.com.