Posted Oct 20, 2015, 2:31 PM
|
 |
Registered User
|
|
Join Date: Sep 2013
Posts: 765
|
|
Kuafu Seeks Nearly $50M in EB-5 Money for East 86th Street Project
LAUREN ELKIES SCHRAM
OCT. 19, 2015M.
Quote:
Following a recent trip to China, executives from Kuafu Properties have started bringing in foreign financing through the EB-5 visa program for their $340 million East 86th Street mixed-use development, the developers told Commercial Observer.
Kuafu and two outside partners have thus far taken in $1.5 million from three investors through the federal program, which allows foreigners to invest in new United States businesses that create jobs in exchange for a path to U.S. citizenship. The objective is to bring in $49.5 million from 99 investors paying $500,000 a piece toward the $340 million project, according to Christopher Sameth, the head of acquisitions for Kuafu Properties.
Continue Reading
|
|