- Funding Needed
- $33 (Mio)
- EB5 Funding
- $8 (Mio)
- EB-5 Investors
- Investment Amount
- Job Creation per Investor
- Job Creation (Total)
- New Multifamily Housing Construction (except For-Sale Builders)
- City of Sacramento, California
- Last Update: February 04, 2015 01:01 PM
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- Developer Name
The Warren, LLC has authorized CMB Export to raise up to $8 million for the Group 31 project. The purpose of the loan is to provide a portion of the overall financing for the construction of residential housing in downtown Sacramento, California. Upon completion, the project will encompass 118 high-end apartments as well as luxury amenities. Projected construction cost for the project is approximately $33 million.
The Warren is located in the City of Sacramento, the capital of California and also the largest city in California’s Central Valley. Sacramento serves as the region’s financial, cultural, communication and transportation hub and is considered the heart of the region’s art, music and cultural scene.
CMB already has a track record of success working with LDK Ventures, LLC, who developed the McClellan Business Park, in Sacramento County, California, formerly known as McClellan Air Force Base. CMB provided a total of $138 million EB-5 investor capital to the developer of the former McClellan Air Force Base, which was combined with $1.02 billion of other private and public capital. One hundred and sixteen investors in the six CMB partnerships that invested in McClellan have already received approvals of their I-829 petitions. CMB looks to continue this success in this Group 31 partnership.
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