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Birch Capital CEO: Why I'm Going Ahead with Tradepoint Atlantic EB-5's Fundraising

WASHINGTON, DC--“We believe the program will eventually be extended long-term with integrity measures,” J. Bruce Ricciuti says.

By Erika Morphy | Updated on October 27, 2016
J. Bruce Ricciuti 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.

J. Bruce Ricciuti, founder of the real estate investment firm, which has offices in Florida and Massachusetts, expects reforms will pass — but first the program will be temporarily extended unchanged to give Congress more time, he predicts.

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