WASHINGTON, Jan. 25, 2023 (GLOBE NEWSWIRE) — Today, members of the EB5 Capital team joined developer IDI Group Companies and PTM Partners in celebrating the ribbon-cutting ceremony of Rivergate, also known as Viridium, EB5 Capital’s JF28 project located in Woodbridge, Virginia. This event marks a major milestone for the project, which is the second phase of a luxury apartment community totaling 720 rental units across 13.5 acres. Along the banks of the Occoquan River, the new seven-story apartment building includes 318 units with a full range of Class A amenities, just 20 miles outside of Washington, DC. The first phase, Rivergate North, is adjacent to the property with 402 units and was completed in 2018.
EB5 Capital funded $15 million in the project as a preferred equity investment. “We congratulate The IDI Group Companies and PTM Partners on the successful completion of phase two,” said Jonathan Mullen, EB5 Capital’s Senior Vice President of Investments. “The building’s spacious apartments, waterfront location, and best-in-class amenities are a great addition to the Woodbridge community.” 30 EB-5 foreign investors from various backgrounds invested in Rivergate and the project is on track to create over 700 jobs.
About EB5 Capital
EB5 Capital provides qualified foreign investors with opportunities to invest in job-creating commercial real estate projects under the United States Immigrant Investor Program (EB-5 Visa Program). As one of the oldest and most active Regional Center operators in the country, the firm has raised nearly a billion dollars of foreign capital across more than 30 EB-5 projects. Headquartered in Washington, DC, EB5 Capital’s distinguished track record and leadership in the industry has attracted investors from over 70 countries. In addition to U.S. permanent residency, EB5 Capital offers real estate private equity investments and non-U.S. Citizenship by Investment Programs. Please visit www.eb5capital.com for more information.
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