J. Bruce Ricciuti
WASHINGTON, DC–Birch Capital has formed a fund to to make an EB-5 qualifying loan of up to $125 million to help finance Phase 1 of the Tradepoint Atlantic development, a massive 3,100-acre logistics complex of revitalized port and rail infrastructure and new buildings. It will be a $344 million project all together, with one-third of the capital coming from EB-5 investors.
The company is gearing to start its fund raising next month and no, it is not concerned that Congress might derail the program or tinker with it beyond recognition.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
