Kent EB-5 LLC was formed in January, 2014 for the purpose of raising up to $50 million investment capital to a project permitted under the EB-5 Immigration Investor Program. The loan shall be advanced in five incremental tranches of $10 million each to XIN NY Holding, LLC (the Borrower). The borrower directly owns 421 Kent Development, LLC (the Project Owner) whose main purpose is to own and develop the real estate located at 421 Kent Avenue, Brooklyn, NY 11249. The development will consist of 201 residential condos, 15 townhouses, a community facility unit, 81 parking spaces and 201 storage spaces plus other amenities including a swimming pool, sauna, fitness center, and a children’s play area. The development will have a total finished area of approximately 492,000 square feet. The loan is secured by all shareholders’ pledge of equity and a corporation guarantee. The demolition started in November 2013 and construction is expected to be completed in May 2016.

421 Kent Development LLC will manage the Project via a team of very experienced individuals as indicated below:

Mr. John Liang (Managing Member) – Mr. Liang oversees the project with support of an in-house team of experienced individuals. Mr. Liang has broad experience in real estate development in the U.S. public and private real estate companies. He earned his MBA from the Wharton School of the University of Pennsylvania and Bachelor’s Degree in Architecture from University of Arkansas. He is also a U.S. licensed architect, having spent 8 years of his early career designing and managing large-scale residential, office and hospitality projects.

Mr. Ryan Black (Senior Director of Development) – Mr. Black began his career with Kriti Management, the U.S. office of the Vardinoyannis family, one of Europe’s wealthiest families.  As vice president of Kriti Management, he oversaw multiple real estate projects on the behalf of the family, completed due diligence needs for assets in the Americas, and sourced deals.

Mr. Robert Gianatasio (Director of Construction) -Mr. Gianatasio is a knowledgeable and hands-on construction executive with a comprehensive understanding of all phases of construction and is responsible for leading construction efforts in planning, building, and completion of all projects for the firm.

The project will be developed in cooperation with the following professionals:

• Architect Designer – Wank Adams Slavin Associate

• Interior Designer – Piet Boon Studio B.V.

• General Contractor – Wonder Works Construction Corp.

• Façade Design and Consultant – Think Architecture and Design

The subject economic study report is prepared by an authorized economist, Dr. Michael Evans. The report applied RIMS Ⅱ model to evaluate job creation data. Dr. Evans anticipated the Oosten Condominium project will create 1,570 jobs over course of the construction.