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CANDLESTICK EB-5 PROJECT

Interimm © > Portfolio > EB5 > CANDLESTICK EB-5 PROJECT

PROJECT OVERVIEWx

  • The Candlestick project, which is part of the Shipyard and Candlestick project series, is San Francisco’s largest community project, located in the southeast of the city. San Francisco sits, unparalleled, as a global center of culture, commerce, and entertainment.

The project includes:

  • 45 adjacent houses are two or three story houses with average area at 1,400 square feet with garages.
  • 334 houses with average area at 888 square feet, cars are parked in concrete garages.
  • Vertical construction of an approximately 1,700-space parking garage.

PROJECT DEVELOPERx

  • As the sister community of the San Francisco Shipyard, Candlestick Point benefits from the same strong Public Private Partnership between the City of San Francisco and Lennar Corporation. San Francisco selected Lennar as the Master Developer of the Candlestick Project.
  • Lennar Corporation was founded in 1954, listed on the New York Stock Exchange in 1972 (NYSE: LEN), is the largest real estate corporation in the United States with $ 15 billion assets.
  • More than 750,000 families now live in homes built by Lennar. The publicly traded company operates in 19 different states, from California to Florida, and has more than $11 billion revenue in 2016.

“When we were choosing an EB-5 Regional Center partner, we sought a firm committed to the highest standards of quality, integrity, and financial success. Through many years of successful EB-5 partnership for the San Francisco Shipyard and Candlestick communities, Golden Gate Global has demonstrated steadfast commitment to these standards time and time again.’’ Chris Marlin, President Lennar International.

REGIONAL CENTERx

  • Golden Gate Global is a leading EB-5 Immigrant Investment Regional Center. Located in the City of San Francisco, Golden Gate Global is licensed by United States Citizenship and Immigration Services to help facilitate EB-5 immigrant investment into high-economic-impact projects in the United States.
  • Established track record with over 1,000 EB-5 investors from over 20 different countries.
  • Over $500 million invested into U.S. development projects.
  • USCIS approval rate on its projects, which result in more than 20,000 jobs.
  • Proven job-creation methodology with USCIS exemplar and over 500 I-526 approvals as of April 2017

“The EB-5 program provides important benefits for everyone involved: investors, family members, job creators and job seekers. It’s truly a win-win opportunity. And the Shipyard project is ideally suited for this program.’’ Ginny Fang – GGG CEO and ChinaSF Chairman.

Download Project Timeline

PROJECT STRENGTHSx

  • Candlestick is located in Golden area of San Francisco.
  • A Project with Public Private Partnership between the City of San Francisco and Lennar Corporation.
  • The project developer – Lennar is one of the largest and most profitable homebuilder in the United States. Trading on the New York Stock Exchange (NYSE: LEN).
  • GGG Regional Center has more than 1.000 investors from all over the world, with approval rate of I-526 is 100%.
  • 6 previous phases has put into operation and more than 500 EB-5 investors obtained I-526
  • Has completion guaranty from Lennar.
  • Average job creation : 13 jobs/ investor, job cushion 31%. Specially, job creation is carefully calculated which giving Investors further confidence in their Green Card prospects.
  • Investment amount is managed by independent funds, ensure not to be used for purposes other than the project.
  • Receive public financial support from the government of San Francisco up to $25m.
  • The homes are priced below the current San Francisco average to provide a solution to the City’s housing needs.
  • Transparent refund plan in case of I-526 denial.
  • The Developer’s exit strategy is to repay the EB-5 loan by refinancing or selling the Project, the Parking Garage operating income and sale/refinancing proceeds; and the sale proceeds from the Homes.
  • Use the Parking Garage as collateral.

“This public-private partnership will revitalize San Francisco and create thousands of units of affordable housing, hundreds of acres of parks and open space and millions of square feet. We are putting people to work building the communities they’ve always wanted to see out here.’’ Edwin M. Lee San Francisco Mayor.

Interimm is official cooperation unit of GGG & Lennar in Viet Nam introducing Candlestick project to investors.

EB-5 FUND OFFERINGx

  • Total Project Cost: $613 million
  • Target EB-5 Fund Size: $185 million (370 investors)
  • EB-5 Investment Amount: $500.000
  • Administrative Fee: $50,000
  • Total EB-5 Job Creation—31% Jobs Cushion