Two New York developers are seeking to raise EB-5 money for the construction of the first Edition Hotel on the West Coast, The Real Deal has learned.
Howard Lorber and Steve Witkoff are trying to raise $75 million in mezzanine financing through the program, which grants foreign investors green cards in exchange for a minimum investment of $500,000 in job-creating projects in the U.S.
The program is one of the most popular — and most controversial — fundraising vehicles for developers in New York, L.A. and Miami. Other L.A. developers leveraging the program include MacFarlane Partners, which is seeking to raise $60 million for the construction of two residential buildings across from Pershing Square in DTLA., and hotelier Beny Alagem’s Oasis West Realty is looking to raise $150 million for the Waldorf Astoria.
Mentions
- Witkoff
- The Real Deal
- Waldorf Astoria Beverly Hills
- West Hollywood Edition
- Times Square Hotel
- Steven C. Witkoff
States
- New York
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.
