EB-5 investors introduce new project in Atlanta GeorgiaPosted: December 21st, 2011 | Author: Chris Jaensch | Filed under: Investor Visas | No Comments »
American Life Inc. is pleased to introduce their newest project located in Atlanta EB-5 Regional Center in Atlanta.
Several key points to the project are:
· 3405 BB Parkway LP, a Washington Limited Partnership managed by American Life, Inc. will develop and own a six story mid-rise Hilton Hotel in Atlanta, Georgia. The hotel consists of a 122-room Homewood Suites by Hilton Hotels. This Homewood Suites would be one of only two upscale extended stay hotels serving the Atlanta Airport once it opens in 2013.
· The hotel is located in close proximity to Atlanta Hartsfield Airport Jackson International Airport (ATL). The airport is the busiest airport in the world, by passenger traffic and number of landings and take-offs since 2005, serving 89 million passengers a year. The $1.4 Billion expansion of the international terminal is on schedule to open in spring of 2012 opening up 12 additional gates.
· The Project will be capitalized with approximately $17.6 million of equity consisting of EB-5 and U.S. investors. · The Project is located in a TEA within the Atlanta EB-5 Regional Center and qualifies for property tax abatement. · Construction is projected to commence in June 2012 and grand opening of the Hotel on or about October 2013. · Investors receive 70 percent of the net hotel income and 70 percent of the capital gain upon sale. The projected yield is approximately 5.5 percent to the investor upon stabilization. Investors should budget for a five to seven year holding period at which time, depending upon market conditions, the Project may be either be sold or refinanced. Individual investors also may choose to sell his/her own Partnership interest. Any of these events will be subject to market conditions. An investment in the Partnership involves complex tax issues and substantial risks, including reliance on management, general market risks, limited transferability of Interests, reliance on the services of third parties and other matters.
American life, Inc. has managed and operated the regional center in Seattle since 1996 and 3405 LP offering will be one of several equity and loan based Offerings that will be offered in our regional centers located in Western Washington State, Southern California, Upstate New York, Atlanta and Miami in 2011 and 2012.
More information at www.amlife.us