Project Description
Peachtree City ILP Partners, LP is comprised of 11 EB-5 investors and contributed $5,500,000 to the development of the Towne Club at Peachtree City in suburban Atlanta, Georgia. Peachtree City was a ‘troubled business’ at the time it was taken over by the development group including Whitestone Realty Capital and Peachtree City ILP Partners. The facility was updated and today boasts nearly complete occupancy (at the time of the takeover, it was around 30% occupied). Upon completion, the property was branded as an “Arbor Terrace” facility and it is thriving today.
Investors in this project are immigrating from China, Taiwan, Canada, and Mexico. Lubin, Salvetti & Associates represented all investors at the I-526 stage with a 100% success rate and four investors have already I-829 petitions beginning in August 2014. A total of 133 jobs were saved or created due to the EB-5 investments. Redemptions will begin as soon as possible and are expected to be complete, 100% redemptions made possible due to the facility’s 2013 sale to a private property owner with a portfolio of similar assets.