Funding

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

Jobs

Job Creation per Investor
12.3
Job Creation (Total)
431
Category
Construction
Sub-Category
New Multifamily Housing Construction (except For-Sale Builders)

Investment

Structure
Loan
Expected Maturity
5 Years
Expected Return
0.25% Interest Per Year
Principal equity in project?
Yes

Immigration

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

Location

State
California
Location
3250 Hollis St, Oakland, CA

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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.


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