- 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
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- Last Update: August 02, 2021 08:56 PM
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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) completed construction in April 2019. Phase III (Hannah Lofts) is currently under construction and is slated to complete construction in Q1 of 2022.
Madison Park: Map
3250 Hollis St, Oakland, CA
Project Location Description
3250 Hollis Street, Oakland, CA 94608
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