U.S. property project open for EB-5 investment
A seminar, which offered information about investing in the SouthFace Village development at Okemo in the United States, was held in HCMC on October 18.
Okemo is a well-known ski resort area in the eastern United States.
The developer of the resort is calling for investment under the EB-5 program in the second phase of the project, in which an additional 32 residential units will be built and put up for sale in 2023. The project needs US$17 million from EB-5 investors, and their investments will be paid back after five years, said officials.
Speaking at the seminar, co-sponsored by Vietnam Consulting Group and SouthFace Village at Okemo Development Company, LLC, Andrew E. Becker, development manager of SouthFace Village at Okemo, said the SouthFace Village project is located in Okemo Mountain, in Vermont state. Okemo was voted one of the best family ski resorts in the United States in 2018.
Becker also pointed out benefits of investment in the SouthFace Village project, including its prime location and being a safe investment. U.S. banks have offered loans valued at 67.95% of the project value.
Additionally, EB-5 investors will enjoy an interest rate of 1% per year on their investment, with a five-year term. Investors will have the option of extending the term by two years.
The developer will offer refunds to investors if their application forms, the I-526, are denied. In addition, funds will be repaid to EB-5 investors after green cards are issued.
With 45 years of experience in developing residential, commercial and industrial projects, SouthFace Village Okemo Development Company acts as the project’s investor.
The SouthFace Village project, including high-end resorts, is easily accessible to urban centers in New York, New Jersey, Connecticut, Massachusetts and Pennsylvania.