Foreign Investors in Rivergate (JF28) Project Obtain Conditional Green Card Approvals
/EIN News/ -- WASHINGTON, July 17, 2024 (GLOBE NEWSWIRE) -- EB5 Capital is pleased to announce the first individual I-526 petition approval for an investor in its Rivergate (JF28) project. An I-526 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 petition was filed with United States Citizenship and Immigration Services (USCIS) in June 2021 prior to the enactment of the EB-5 Reform and Integrity Act of 2022 (RIA).
Less than 20 miles outside of Washington, DC, Rivergate (JF28) is a seven-story 318-unit multifamily development located in Woodbridge, Virginia, along the banks of the Occoquan River. EB5 Capital funded $15 million in the project as a preferred equity investment, raised from 30 investors representing a variety of nationalities. The project opened to the public in 2023 and created more than 600 jobs.
“We are pleased to have received the first I-526 approval for this project,” said Juline Kaleyias, Vice President of Business Development at EB5 Capital. “Rivergate (JF28) was our final ‘pre-RIA’ project that was awaiting investor approvals from USCIS. 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 approximately 40 EB-5 projects throughout the United States, including 12 multifamily developments in the Washington, DC area. Rivergate (JF28) is EB5 Capital’s 30th project which has reached the conditional green card stage for foreign investors going through the EB-5 immigration process. Now that the first petition has been approved in Rivergate (JF28), additional I-526 petition approvals are anticipated 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
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