Established NYC-based Commercial Real Estate Lender and Advisor Aims to Help Meet Global Demand for EB-5 Visas
by Prashant Kapadia/NHN
MUMBAI– Greystone, an established commercial real estate lending, investment, and advisory company headquartered in New York City, is bringing new EB-5 investment opportunities to the Indian market as the window for immigration to the United States increasingly narrows. With the ability to gain lawful permanent residency and a conditionalvisa to the U.S. through economic investment and job creation, Greystone provides access to compliant projects and manages the EB-5 application process from end-to-end. EB-5 is a U.S. government immigration program that provides foreign nationals an opportunity to receive lawful permanent residency and a conditional visa in exchange for a capital investment into one or more newly formed commercial enterprises that lead to the creation or preservation of jobs in the U.S. Today, investments that are made under the EB-5 program are predominately used to support real estate development projects. Each investment, of $1,000,000 or $500,000 if the project is in a Targeted Employment Area (“TEA”), entitles the investor and their immediate family (i.e., spouse and unmarried children under 21 years of age) to participate in the visa application process and to obtain a U.S. green card upon approval.
Immigration to U.S. Becoming Increasingly Difficult, EB-5 Remains Stable
At a time when global immigration to the United States is under intense scrutiny, changes toboth the popular H-1B visa program and the employment-based EB-5 visa program loom large, with qualification for various visa programs becoming increasingly difficult. The EB-5 program, which also faces potentiallegislative change in the future,is today fully functional againafter the U.S. government shutdown temporarily halted application processing for 35 days.
“There is no question the U.S. government is making variations to its immigration policies, but the EB-5 program remains unchangedtoday and is an ideal way to leverage an investment in the U.S. economy for a visa,” said Allison Berman, head of Greystone’s EB-5 program. “Adding to the equation that the popularity of the program means a backlog is in the future for Indian applicants, and potential changes on the horizon for the program overall, now is the time to explore this avenue for residency in the U.S.”
The EB-5 program has experienced a surge in demand over the last several years, creating a backlog of applications frominvestors in some regions. Due to current application volume and caps on visas approved from certain regions, for investors from countries such as India, the processing and approval timeline can be 18 to 24 months, versus five to 10 years or more with applicants from China. Typical EB-5 investments with Greystone include a five to seven-year investment, an above-market rate of return and a guaranty of repayment to the new commercial enterprise.
Investment in Seniors Housing Projects Present Solid Investment in Growing Industry
Greystone is presenting to the Indian market an opportunity to invest in a seniors housing and healthcare development property serving the greater Orlando region in Florida. The project comprises 180 skilled nursing beds and will become part of a network of 28 total facilities managed by Greystone Healthcare Management Corp., a Greystone affiliate. Greystone affiliates have extensive experience in the real estate and healthcare industries as well as the Florida market specifically. Further, theAmerican Seniors Housing Association estimates the U.S. will need more than 3 million senior housing units by 2040 — about 2 million of which still need to be built.
“Greystone has decades of experience in the seniors housing sector and understands that the growing demand will require new construction serving this market,” said Ms. Berman. “With our institutional knowledge across the spectrum of finance, construction, and EB-5 advisory, our platform is a sound program ideal for foreign investors seeking lawful permanent residency,conditional visas and a return on investment in the U.S.” Greystone affiliated companies originated over $10 billion in US government and private commercial real estate loans in 2018; has a servicing portfolio of over $30 billion; and has developed or repositioned over $2 billion in real estate projects.
About Greystone EB-5 : Greystone EB-5 and its affiliates are a US-based commercial real estate lending, investment, and advisory company with 30 years’ experience providing innovative financing solutions for multifamily and healthcare properties. They are experts in creativity and execution across multiple lending platforms including Bridge, CMBS, FHA, Fannie Mae, Freddie Mac, Mezzanine and other proprietary loan programs.Established in 2015, Greystone EB-5 provides developers a sophisticated, fully integrated and full-service approach to accessing EB-5 capital for their projects, while offering EB-5 investors access to EB-5-compliant investment opportunities and investment servicing.All securities sold through Greystone Broker Dealer Corp., member FINRA and SIPC.