Live In America EB-5 Newsletter
EB-5 Project: 4th&L (The Aspen) Loan Repayment
Live In America EB-5 is pleased to report that its first EB-5 investment has been successfully repaid in full.
On October 4, 2017, the sponsors of the Aspen (The “Project”), a Class A residential apartment building in Washington D.C., sold the Project and used the proceeds to repay the $9,000,000 EB-5 mezzanine loan in full.
Located at the intersection of 4th and L Streets, NW, in the United States capital of Washington, D.C., the Project is a Class A, transit-oriented high rise residential apartment development known as The Aspen. The Project is a 133-apartment unit, 10-story elevator-served structure. The 9 residential floors are built over a ground level that includes approximately 5,890 square feet of prime retail space. The building also has underground parking, a rooftop sundeck and several landscaped terraces. With 133 units averaging 608 square feet, the Project offers a unique and highly desirable boutique living experience that combines Class A finishes and high-rise views with the exclusivity of a small apartment community. Construction of the Project began in September 2014 and was completed in November 2016. The Project’s residential apartments were fully leased by the summer of 2017 and the project was ultimately sold to Greystar in October 2017.
An affiliate of Live In America EB-5 successfully raised $9,000,000 to invest in The Aspen project from 18 individual EB-5 petitioners. Live In America’s wholly owned subsidiary, Live In America EB-5 – Washington D.C./Baltimore Regional Center, was the regional center sponsor for the project. The United States Citizenship and Immigration Services (USCIS) approved The Aspen project as an eligible EB-5 investment and all 18 EB-5 investors have had their I-526 Petitions approved.
Live In America EB-5 looks forward to continuing to service the 18 investors and their families on their path to permanent residency and assisting with their settlement here in the United States.
EB-5 Project: 1 Light Street – Baltimore, Maryland
A report commissioned by the Downtown Partnership of Baltimore found that a combination of commercial tax and quality-of-life initiatives in Baltimore created a community growth rate that is predicted to require the creation of between 6,685 and 7,025 new residential units for families and singles over the next five years.
One Light Street, with its 280 luxury apartments scheduled to come online in the spring of 2019, will be there to help fill that need. Take a look at this I-924 USCIS approved project.
2018 Las Vegas EB-5 & Global Investment Immigration Convention
Live In America EB-5, a subsidiary of The LCP Group, L.P., was excited to be one of the Platinum Sponsors for the 2018 Las Vegas EB-5 & Investment Immigration Convention, hosted by EB-5 Investors Magazine. This two-day networking and educational event was geared to providing industry experts, migration agents, regional centers, project developers and legal firms a better understanding of the potential EB-5 program policy changes, legal analysis, compliance, due diligence, and ethical considerations surrounding the EB-5 Immigrant Investor Program.
In addition to learning about potential EB-5 markets outside of China, the Live In America team also discovered new strategies that could assist potential investors in navigating the complex legal and business issues of EB-5, responding to USCIS, and facing other governmental challenges.
With several new projects in the pipeline, coupled with the expansion of EB-5 into new geographic locations, Live In America EB-5 looks forward to another successful year ahead, for which we are grateful to you all.