This week, we learned that CMB Infrastructure Investment Group 82 received an I-956F approval! This is the second CMB EB-5 partnership to be approved since the new EB-5 regulations were implemented under the EB-5 Reform and Integrity Act of 2022 (RIA). The first, CMB Group 78, was approved last month. Under the RIA, Regional Centers are required to file an I-956F petition for every investment offering before individual investors file their I-526E petitions. This is great news for all investors in these two CMB partnerships, as it is the first step to them receiving their permanent green card through the EB-5 program.
We’re very excited about these milestones and hope to see investors in these partnerships achieve individual I-526E approvals shortly. These I-956F petitions will provide deference to individual investor petitions and should hopefully speed up the EB-5 adjudication process as a whole.
CMB Group 82 provided $18.4 Million to finance the development and construction of an industrial/logistics facility at the Hazleton Logistics Park located in Hazleton, PA. The development, which has been leased by Samsung SDS America Inc. (Samsung), is over 1,200,000 square feet (111,500 square meters). Samsung has since taken over occupancy as of the 3rd quarter of 2022.
Hillwood Development Company served as the EB-5 borrower and project developer for Group 82. Since 2012, CMB has worked hand in hand with Hillwood to identify and structure some of the highest-quality EB-5 partnerships in the industry. To date, CMB and Hillwood have partnered on 36 separate EB-5 partnerships. Of those, 28 have achieved I-526 approvals, and 14 have achieved I-829 approvals. We believe this represents the strongest Regional Center/Developer relationship in the industry.