- Funding Needed
- $85 (Mio)
- EB5 Funding
- $17.5 (Mio)
- Amount Subscribed
- $85 (Mio)
- EB-5 Investors
- 35
- Investment Amount
- $500,000
- Subscription Fee
- 50,000
- Discount Fee
- 0
- Job Creation per Investor
- 12.3
- Job Creation (Total)
- 431
- Category
- Construction
- Sub-Category
- New Multifamily Housing Construction (except For-Sale Builders)
- Structure
- Loan
- Expected Maturity
- 5 Years
- Expected Return
- 0.25% Interest Per Year
- Principal equity in project?
- Yes
- Does this project have approved I-526's?
- Yes
- Does this Regional Center have approved I-526's?
- Yes
- Does this Regional Center have approved I-829's?
- No
- State
- California
- Location
- 3250 Hollis St, Oakland, CA
- Last Update: December 05, 2018 08:30 PM
Funding
Jobs
Investment
Immigration
Location
Your Project was viewed 142 times (totally).
For the last 7 days 0 times.
Madison Park
- Developer Name
- Madison Park Financial
Project Description
Madison Park Financial EB-5 Project is a San Francisco Bay Area multifamily apartment construction fund that will build three separate apartment buildings in Oakland and Emeryville of the San Francisco Bay Area. Each location is transit oriented and within walking distance to BART, the local metro system. The job creation is substantially completed by construction alone via the RIMS-II model and the project has various guarantees including construction completion guarantee, GMAX Construction Price Contracts, I-526 approval guarantees and a Corporate Repayment Guarantee from Madison Park Financial, the developer's parent company. The investment is loan style and secured firstly by the assets within the fund and secondly by Madison Park Financial's balance sheet. The fund will raise $17,500,000 from 35 investors at $500,000 each (TEA).
Project Timeline
Construction started in August of 2016. Phase I (P.E. Gallot) construction is complete as of March 2018, and fully leased as of August 2018. Phase II (Hollis Oak) construction over 80% complete as of November 30th, 2018, is pre-leasing, and is currently estimated to complete construction January 2019. Phase III (Hannah Lofts) site development has been initiated: construction equipment has been moved onto the site, environmental impact mitigation plans are in process, Dettaglio Construction contract finalized, Cathay Bank has been on boarded, and ground has been broken.
Over 246 jobs already created, 35 out of 35 investors slots have been filled, and 5 investors have received I-526 approval as of November 27th, 2018.
Securities Disclaimer
This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.