ARCFE GROUP 3
Project is located at 5515 8th Ave, Brooklyn, New York. When fully completed it will be a 7-story building, consisting of 36 medical office units, 13,000 square feet of retail store space and 145 parking spots. Project will be started in September 2014 and is expected to be completed in 3 years.
ARCFE Group 3 offers 16 investment units to raise $8 million for the project. EB-5 fund is structured as a mezzanine loan and will be used toward construction cost. After project completion, income from sales of units will be used to repay investors. The investment can be repaid after 5 years.
|Developer investment||$11 million|
|Bank loan||$14 million|
|EB-5 capital||$8 million|
|Total project investment||$33 million|
|Land Value||$10 million|
|Hard Construction Costs||$17.5 million|
An economic analysis from EB-5 economist Dr. Michael Evans shows that a total of 251 jobs will be created by the project, which is more than the requirement of 160 jobs for 16 investors.