LCR Capital Partners and the HALL Group are happy to announce the Thompson Palm Springs EB-5 project has received its I-956F approval from USCIS.
WESTPORT, CT, UNITED STATES, February 26, 2024 /EINPresswire.com/ — LCR Capital Partners announced today that the Thompson Palm Springs EB-5 project received its I-956F approval from the United States Citizenship and Immigration Services (USCIS) on February 15, 2024. This important milestone signifies validation by USCIS of the project’s business plan, economic model and job creation potential, offering significant benefits for potential investors seeking permanent US residency through the EB-5 Immigrant Investor Program.
Reduced Risk, Enhanced Confidence
The I-956F approval assures investors that the Thompson Palm Springs EB-5 project meets the program’s rigorous economic and job creation criteria. The project is projected to create 1,386.9 jobs which is over 15 jobs per investor. The plan also shows 679.3 jobs, nearly one half, will be direct jobs. The Thompson Palm Springs project significantly exceeds the USCIS requirements of 10 jobs per investor and 10% direct jobs. This reduces their risk and provides confidence that the project’s business plan will not hinder their individual immigration applications.
“We are excited but not surprised that the Hall Group‘s Thompson hotel project in Palm Springs has received its I-956F project approval. The HALL Group is a top-quality, experienced developer, and the team that put this EB-5 project together includes the best in the industry. The HALL Group is also executing the business plan, which means the jobs have been created and the invested capital has been used as expected,” said Sherman Baldwin, CEO of LCR Capital Partners.
Formal Eligibility for EB-5 Investment
With this approval, the project is now formally authorized to receive EB-5 investment. While many projects accept investment before USCIS approval and have project denial guarantees, the I-956F approval eliminates the risk of project denial as a reason for I-526E denial. Because the HALL Group is well underway with its construction and has followed the business plan, including the job creation, it also reduces the risk of any project issues on the final I-829 or Permanent Green Card review.
Strong Market, Experienced Team
Beyond the I-956F approval, several factors solidify Thompson Palm Springs as an attractive investment option:
1) Thriving Market: Capitalize on the booming tourism industry in Palm Springs, California,
2) Established Brand & Operator: Operated by the award-winning Thompson Hotels, acquired by Hyatt Hotels in 2019,
3) Experienced Developer: Benefit from HALL Group’s expertise with a $10 billion+ real estate portfolio.
“The foreign investment that comes through the EB-5 program is critical for us to do projects like this hotel redevelopment in Palm Springs, California. We are happy to see the US government has approved our business plan and econometric model, and we will complete that plan,” said Don Braun, President of the HALL Group.
“Helping international families that choose to invest in the US, and create jobs in the US, is a real privilege,” said Suresh Rajan, founder and executive chairman of LCR. “We look forward to working with them throughout the process and being a partner as they become part of the American community.”
The Thompson Palm Springs Hotel will be a full-service luxury resort featuring 168 rooms and suites and 36,800 square feet of upscale retail space. This project presents a compelling opportunity for people seeking a path to U.S. permanent residency through EB-5 investment.
Learn More: Thompson Palm Springs EB-5 project – https://info.lcrcapital.com/thompson-palm-springs-hotel-eb5
About LCR Capital Partners
LCR Capital Partners LLC is a private investment and advisory services firm that serves families interested in global opportunities. Founded in 2012, the firm’s primary focus is working with clients interested in immigrant investor programs. LCR has helped over 1000 investors move to the United States via the EB-5 Immigrant Investor Visa, which grants investors and their immediate family members US green cards. LCR also works with the Portugal Golden Visa, which is based on government-approved investments in Portugal. Through its affiliates, International Investors Mortgage and LCR Wealth Management, the firm also offers US loan solutions and wealth management to foreign nationals moving to the United States. LCR has built long-term, trust-based relationships with a global client base of high-net-worth families in over 30 countries around the world. LCR is headquartered in Westport, CT, and runs a global network with teams in San Francisco, Orlando, São Paulo, Lisbon, Dubai, Mumbai, and Delhi.
About HALL Structured Finance
HALL Structured Finance is an entrepreneurial, value-add, direct private lender that provides first mortgage debt capital for new construction, adaptive reuse and major asset repositioning for commercial real estate projects throughout the U.S. HALL Structured Finance has historically focused on providing multifamily and hotel construction loans and hotel bridge loans, but also provides financing in connection with industrial, office and retail projects. For more information, visit hallstructuredfinance.com.
John M Baker
LCR Capital
+1 203-883-1940
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Instagram
YouTube
