26 Mar Kushner Companies closes on $200M from Citigroup for 65 Bay Street, a U.S. Immigration Fund Project
U.S. Immigration Fund has announced that Kushner Companies has closed on a $200 million loan from Citigroup for the recapitalization of their Jersey City 65 Bay Street project which will go toward the repayment of their construction loan including EB-5 financing from U.S. Immigration Fund
Jupiter, FL. March 23, 2018- U.S. Immigration Fund has announced that Citigroup has agreed to loan $200 million to Kushner and KABR Group for their 65 Bay Street project, a multifamily tower in Jersey City, New Jersey. The debt will go towards paying off construction financing which included $50 million funded by U.S. Immigration Fund on behalf of 100 EB-5 investors from around the world.
“We are very happy for our investors that invested their capital in the Kushner-KABR project in Jersey City,” said President of U.S. Immigration Fund, Nicholas A. Mastroianni III. “This recapitalization from Citigroup signifies that our investors are one step closer to achieving permanent residency in America and the ultimate repayment of their EB-5 capital investment.”
U.S. Immigration Fund’s 88 Kushner-KABR, later branded as 65 Bay Street, is a mixed-use development located in Jersey City, New Jersey that overlooks the Hudson River and offers panoramic views of the Manhattan skyline. Comprised of 447 luxury rental apartments, 217 parking spaces and approximately 4,000 square feet of retail space, the 48-floor building shares amenities with the Trump Plaza: a residence synonymous with luxury, lifestyle and location. This project is now fully constructed and is in the process of leasing the remaining units in the building. During the development process, the project created an abundance of jobs for the Jersey City community.
This success is another significant milestone for U.S. Immigration Fund in helping its EB-5 investors reach their goal of becoming permanent United States residents. U.S. Immigration Fund’s 24 projects account for roughly 18,000 EB-5 green cards arising from approximately 6,000 investors and their families, accomplishments unmatched within the EB-5 industry. To learn more about this project visit visaeb-5.com/project/88-kushner-kabr.
About U.S. Immigration Fund:
U.S. Immigration Fund (USIF) is America’s leading EB-5 Regional Center operator with world-renowned investment opportunities from New York City to California and approximately 6,000 clients from across the globe. With approved Regional Centers located in the world’s most thriving metropolitans, USIF provides worthwhile opportunities for foreign investors and their families to obtain permanent U.S. residency through the EB-5 Program. Each year, the U.S. government allocates 10,000 visas for foreigners who invest through the Program. These initiatives enjoy full government support as they stimulate the economy, generate at least ten jobs per investment, and promote community development while providing access to green cards for foreign investors and their families.