EB5 Capital Celebrates Opening of New Hilton Home2 Suites in Temecula, CA
EB5 Capital joins Huntington Hotels Group in celebrating the grand opening of Temecula Hilton Home2 Suites located in Temecula, California. The property is a 120-room Hilton hotel in the heart of Southern California’s wine country. It is situated between Los Angeles and San Diego counties, and is a ten-minute drive from 5,000 acres of award-winning vineyards and the Pechanga Resort and Casino, the largest gaming establishment in the state of California.
“We’re thrilled about seeing our fourth EB-5 funded project open in the Golden State,” said Brian Ostar, EB5 Capital’s Senior Vice President of Global Operations. “With a total of six projects delivered or under construction in California, this project is one of the four deals we structured in partnership with Huntington Hotel Group. The opening of Temecula Hilton Home2 Suites represents another milestone in our company’s extending portfolio of completed EB-5 projects across the country.”
EB5 Capital funded $8.5 million in the project as a preferred equity investment. The hotel includes a business center, dining room, outdoor swimming pool, fitness room, and entertainment space. The project will contribute to addressing strong demand for additional hotels in Temecula driven by tourists and the Rancho California Business Park, where several leading pharmaceutical and technology firms are located. The Home2 Suites Hilton brand targets corporate and leisure travelers and is specifically designed for families visiting for several days.
“It is always rewarding to see EB-5 projects complete their full construction cycle, from groundbreaking ceremony to grand opening,” said David Slavit, Director of Asset Management. “We are looking forward to providing official site tours to our investors who have plans to visit this area of California.”
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