Achieving a record of 100% I-829 approvals in multiple CMB EB-5 investment partnerships is no easy task.
Last week, IIUSA (Invest In the USA - The trade organization for Regional Centers and others working in EB-5) held its 5th Annual EB -5 Market Exchange conference in Dallas, TX. During this event, CMB was honored with an award for its first I-829 approvals in our CMB Infrastructure Investment Group VII partnership. An I-829 approval grants the EB-5 investor and their qualified family members lawful permanent residency in the United States. CMB's Group VII partnership provided a $90 million investment loan to Brightsource Energy for the construction of the Ivanpah Solar Electric Generating System, the largest solar thermal power plant in the world. CMB has been recognized by IIUSA in recent years for I- 829 approvals in all ten preceding CMB EB-5 investment partnerships.
Achieving a record of 100% I-829 approvals in multiple CMB EB-5 investment partnerships is no easy task. There are approximately 700 federally designated Regional Centers in the United States. Of these, only a very small group have achieved an I-829 petition approval, while even fewer have done so over multiple EB-5 investment partnerships. CMB is even more unique as a result of not only having achieved I-829 approvals in multiple partnerships, CMB's first five EB-5 investment partnerships have already returned capital to investors. A demonstration of success through I-829 petition approvals and the repayment of capital should be among the first criteria a prospective EB-5 investor looks for when choosing a Regional Center.
An aerial view of the Ivanpah Solar Electric Generating System (San Bernardino County, CA)
CMB Infrastructure Investment Groups IX and XI also involved investments into a utility scale solar project known as Crescent Dunes in Tonopah, NV. The SolarReserve Crescent Dunes solar power plant will be featured on National Geographic's new show 'Breakthrough', which premieres November 1st.
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