The Florida EB-5 Regional Center Announces Investment Opportunity for EB-5 Spoleto Investors, LP to Finance Development of Additional Spoleto Florida Locations
The Florida EB-5 Regional Center announces a prospective investment opportunity for EB-5 Spoleto Investors, LP to finance the development of 23 additional Spoleto Florida locations in Orlando, Florida.
The Florida EB-5 Regional Center, LLC has been approved as a designated EB-5 regional center for the State of Florida by the United States Citizenship and Immigration Services (USCIS).
EB-5 Spoleto Investors, L.P. has executed a Memorandum of Understanding with the Regional Center to authorize the Project as a qualifying investment in a new commercial enterprise under the EB-5 Visa Program.
Spoleto is a fast casual restaurant chain with more than 360 restaurant locations currently operating in Brazil, with additional locations in Mexico and Costa Rica. These restaurants reflect an innovative combination of the fast-casual dining concept with gourmet-quality Italian cuisine. Following over three years of research, which has included hiring industry experts in the U.S.A., the founders of Spoleto believe the time has come to enter the U.S. market.
The 2 existing restaurants located at the University of Central Florida Campus and the Florida Mall Dining Pavilion as well as the 23 new restaurants will be launched in designated trade areas throughout the Orlando, Florida, metro area. These areas have been chosen to maximize brand visibility and market penetration. Some are placed within convenient range of affluent neighborhoods (e.g., Lake Mary has a population of 58,000 within three miles with an average household income of over $97,000). Some are located at shopping destinations (e.g., Florida Mall), or areas with high foot traffic (e.g., University of Central Florida), while others see high commercial traffic (multiple downtown locations). There are over 926,000 residents within three miles of all trade area locations, with a slightly younger but more affluent demographic than the Orlando metro area overall.
The economic climate in the U.S.A. is highly favorable for Spoleto. The $61.3 billion per year Italian Restaurants industry and the $225.1 billion per year Fast Food Restaurants industry are moving away from low value products and toward healthy, locally sourced, and ethically conscious menus. While existing participants are struggling to change their offerings while retaining existing customers, new entrants are able to target the center of customer demand rather than migrating toward it.
The Project will be led by John Velasquez, President, and Carlos Oliveira, Financial Manager, both of Spoleto USA, LLC. Mr. Velasquez brings over 15 years of experience in restaurant real estate development and operations, including with the development of Domino's Pizza in Latin America and the Caribbean. Mr. Oliveira started working for Grupo Trigo in 2009; he began coordinating financial planning within the group after earning his economics degree and has now been promoted to his role with Spoleto USA.
Florida EB-5 Regional Center, LLC is led by Dennis Slater, who retired from a career of executive leadership in the automotive industry to provide select high-net-worth individuals with strategic investment planning. Honored as a Tampa Business CFO of the Year, Mr. Slater has led the Regional Center through the creation of 1,875 new jobs through investment in hotels, restaurants, and senior living facilities.
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