Project Updates
We are raising EB-5 capital for a Phase 2 development of All Points North (APN)’s flagship facility outside Vail, Colorado. APN is a world class behavioral health company with facilities throughout the US and in the UK. It is a rapidly growing company that generated $54m in revenue last year and is projected to generate $70m in revenue this year.
Thanks to the investment’s humanitarian and national interest nature, we are requesting expediting processing of the project application (Form 956F). As a rural investment investors can also rely on priority processing.
Having secured over $65 million from a range of private equity firms, APN is gearing up for a potential company sale in the future. This strategic move is expected to significantly boost the IRR for EB-5 investors.
Here’s the visionary behind APN, CEO Noah Nordheimer, introducing the company and this exciting EB-5 investment opportunity.
EB-5 Related News
With USCIS unveiling their Q2 data for January to March ’24 it is evident that the EB-5 program is experiencing significant growth. With the kind permission of Suzanne Lazicki, we are sharing some slides from her blog that best illustrate the positive trends. Filings for the quarter increased significantly to 1,879…
resulting in a cumulative total of 5,344 filings under the RIA with the majority in High Unemployment Areas (although the TEA data is lagging).
The good news is that IPO processing has improved considerably and is on track to reach the RIA processing goal of less than a year for I-526Es. According to Lazicki, if the IPO keeps processing at this rate, the pre-RIA backlogs at USCIS will be gone within 12 months. Adjudicators can then shift focus to post-RIA filings and make quick work of the incoming receipts.
The number of projects is growing as well
As the demand from investors continues to grow, so too do the number of projects entering the market. The surge has been spurred by tighter domestic capital markets and a renewed interest in EB-5 under the RIA. According to estimates by the fund administration platform PRXY, more than 400 I-956F project applications have been filed. Regional Centers (RC)s must file the I-956F before Investors can file their I-526Es.
As an RC sponsor with national coverage we have good visibility into the projects coming to market and we’re seeing a general increase in the quality of projects as well as a wide variety of rural and urban projects in various industries including manufacturing, movies, agriculture, mining and behavioral health.
Our target project as a RC sponsor has a minimum $20m EB-5 raise, is shovel ready, or close to it, and not overly reliant on EB-5 capital. As the RC sponsor we provide competitive pricing and a robust compliance regime to ensure the project adheres to the requirements under the RIA. If you know of any developers or companies looking for EB-5 funding, please don’t hesitate to get in touch.
Team Travels
Harry Rhee and Boeing Li recently attended the Global Immigration Conference in Guangzhou, China where they met several agents. Q Sadriu and Carel van der Merwe have upcoming trips to Dubai, India and Mexico. Please contact us if you’d like to meet.
