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Analysis

Fla. Hotel Project Struggles Highlight EB-5 Risks

Law360 (April 4, 2018, 8:01 PM EDT) -- When The Bancorp Inc. filed suit in January to foreclose on a $50 million loan for a half-built Fort Lauderdale resort, it thrust into limbo the immigration goals of 60 foreign investors who poured $30 million into the project through the EB-5 visa program, in another vivid illustration of the federal initiative’s risks.

The EB-5 Immigrant Investor Program encourages foreign nationals to invest in American projects as a means of earning permanent residency. The program has grown into a popular means of entry for deep-pocketed immigrants and an easily accessed source of financing, especially for commercial real estate projects.

But the...

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Court

Florida Southern

Nature of Suit

Real Property: Foreclosure

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Date Filed

January 25, 2018

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