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Changes to Popular EB-5 Program Impact CRE
A recent GlobeSt article, featuring CGS3’s Phil Jelsma, discusses how recent changes to the incredibly popular EB-5 program are impacting the commercial real estate world in a variety of capacities. The Omnibus Bill, recently passed by Congress on Dec. 15, 2015, was well-received for commercial real estate investors. The Bill was passed to fund the US Government, and included the extension of the current EB-5 program until Sept. 30, 2016.
Jelsma’s exclusive interview with GlobeSt highlights the latest changes that affect the bill and the impact they have on CRE. Some noteworthy points include the fact that none of the anticipated changes to the program will transpire, such as minimum investment amounts, definitions for targeted employment areas, or other proposed reforms.
The interview continues on with GlobeSt asking and Jelsma answering the following questions:
- What is EB-5 financing and where it stands today?
- Were changes anticipated ? If so, why weren’t these changes made?
- Is the program growing in popularity? Why or why not?
- What is the program’s impact on CRE? How can it be a viable source or financing deals?
The full article can be here.