USCIS Approves American Bridge Seattle Regional Center!
[PREFACE: As most of my readers know, I'm very wary of structuring new EB-5 Regional Centers and Projects. While many of my colleagues are doing very brisk business with EB-5 formations, I have a real issue taking on an EB-5 structure unless I'm 100% satisfied with both the quality of the folks behind the deal AND the confidence that when it is finally approved by USCIS, the project will actually FIND INVESTORS. The former issue of GP reputation is as much about protecting my OWN reputation as it is about protecting future investors; the latter issue of saleability is based upon the hard, cold reality that a tiny fraction of the 300+ -- is it over 400 now? -- USCIS approved EB-5 Regional Centers already on the market have succeeded in raising their first dollar. I'm not interested in earning a big fee when I know the deal will not sell, and I disagree with my colleagues who handle that issue by smugly pointing out that they are "just forming the project, not guaranteeing its success". BULL-oney.]
Folks, I am happy to report that USCIS has approved American Bridge Seattle Regional Center! American Bridge was the only EB-5 RC I agreed to structure in 2012 and I am delighted that my clients can move forward. American Bridge is in fact an entirely new breed of Regional Center, and that's not hyperbole...here's why:
- The Regional Center is co-owned and managed by my good friend Greg Denton, who's attended the EB-5 "School of Hard Lessons" side by side with me for these past few years. Greg is one of the brightest minds in U.S. hospitality management, widely respected, and literally the author of a leading textbook on Hospitality Management.
- The project, a Residence Inn Hotel in Seattle, is being developed by Navin Dimond and his veteran team at Stonebridge Companies. Navin, like Greg, is another hospitality industry maestro. He's been honored the Award of Excellence from the American Asian Hotel Owners Association, the Hotelier of the Year Award from the Colorado Hotel and Lodging Association and the prestigious Hilton Hotels Multi-brand Developer of the Year Award.
- The formula and structure for the project mirrors what Stonebridge has done dozens of times before, providing prospective EB-5 investors with real-world, verifiable proof of success in both the business model AND, more importantly, exit strategy.
CONGRATS TO TEAM AMERICAN BRIDGE!
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