WASHINGTON, Sept. 05, 2024 (GLOBE NEWSWIRE) — EB5 Capital is pleased to announce the first two I-526E petition approvals for investors in its SouthFace Village at Okemo (JF36) project. An I-526E approval is a significant step in the EB-5 immigration process as it qualifies the investor and their eligible immediate family members for conditional permanent residency in the United States. The approved petitions were filed in December 2023 and January 2024.
The SouthFace Village at Okemo (JF36) project is a $103.8 million residential development containing 26 mountain chalets, 24 fully-furnished townhomes, and 6 condominiums, spanning 200-acres on the south face of Okemo Mountain, located in Ludlow, Vermont. EB5 Capital raised foreign capital from 37 investors, representing a variety of nationalities, to finance a portion of the capital stack.
“We are pleased to have received the first I-526E approvals for this project,” said Molly FitzGerald, Director of Investor Communications and Engagement at EB5 Capital. “This significant milestone underscores our commitment to providing exceptional EB-5 qualifying investment opportunities to investors.”
To date, EB5 Capital has raised foreign investor funds across over 40 EB-5 projects throughout the United States. JF36 is EB5 Capital’s 31st project which has reached the conditional green card stage for foreign investors going through the EB-5 immigration process. Now that the first petitions have been approved, additional I-526E petition adjudications for this project are expected in the coming months.
About EB5 Capital
EB5 Capital provides qualified foreign investors with opportunities to invest in job-creating commercial real estate projects under the United States Immigrant Investor Program (EB-5 Visa Program). Headquartered in Washington, DC, EB5 Capital’s distinguished track record and leadership in the industry has attracted investors from over 75 countries. As one of the oldest and most active Regional Center operators in the country, the firm has raised over $1 billion of foreign capital across approximately 40 EB-5 projects. 100% of our investors’ funds are protected by the Federal Deposit Insurance Corporation (FDIC) insurance prior to their deployment into our projects. Please visit www.eb5capital.com for more information.
Contact:
Katherine Willis
Director, Marketing & Communications
media@eb5capital.com
GlobeNewswire Distribution ID 9226075
