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Wohali Utah by EB5AN: New Rural Loan $800K EB-5 Project

NEW YORK, NEW YORK, UNITED STATES OF AMERICA, August 16, 2022 /EINPresswire.com/ -- EB5 Affiliate Network (EB5AN), an EB-5 investment fund manager, regional center operator, and consultancy, will host a live virtual launch event for its latest regional center-sponsored EB-5 project, Wohali Utah, on Thursday, August 18, 2022, at 3 PM EDT. EB5AN co-founders and managing partners Sam Silverman and Mike Schoenfeld will discuss why Wohali Utah is the most compelling rural EB-5 project available today.

Register here to attend or watch the recorded event later.

Wohali Utah is a 428 residential golf community development located just north of Park City, one of Utah’s most popular tourist destinations and skiing hubs. The community’s pristine natural setting in the Utah backcountry will also feature a world-class 18-hole golf course, a clubhouse, a spa and wellness center, a private 3,000+ acre park, and several other amenities.

Wohali Utah is located in a rural targeted employment area (TEA), thereby qualifying its EB-5 investors for the reduced minimum investment amount of $800,000 and priority processing of Form I-526E. Investors also qualify for set-aside visas from the rural TEA classification, which comprise 20% of the annual supply of EB-5 visas. These reserved visas allow investors from countries experiencing a visa backlog to “skip the line” ahead of other applicants and immigrate significantly faster.

Wohali Utah offers an ample job-creation cushion: while approximately 990 positions are needed to reach the minimum requirement of 10 jobs per investor, the projected EB-5-compliant job creation amounts to more than 4,300 positions. This leaves a surplus of more than 3,000 jobs, making Wohali Utah a particularly low-risk investment opportunity. As of August 2022, the project has already created more than 300 EB-5-compliant jobs.

As added layers of security, EB-5 investors in Wohali Utah will receive job creation and Form I-526E approval guaranties. This arrangement provides investors with an accelerated repayment of funds in the unlikely event that USCIS denies their visa applications. The EB-5 investment is secured by mortgages on thousands of acres of prime land and a 100% equity pledge from the development entity.

The project features a strong capital structure, with most of the funding coming from the senior loan, developer equity, and home sales revenues. EB-5 funding constitutes a comparatively small percentage of the capital structure, and the development of the project is not dependent on any amount of EB-5 funding.

Typically, EB-5 investments are pooled into a single loan with the same repayment timeline for all investors. The Wohali Utah EB-5 loan is structured in individual tranches for each investor, and the term of each tranche is five years. This means that the first EB-5 investor in the Wohali Utah project will be the first EB-5 investor to be repaid by the project. The start date of the five-year loan term is not dependent on any minimum number of EB-5 investors, the timing of any USCIS approvals, or any other conditions as is typical of most other EB-5 projects.

EB5AN is pleased to announce that construction and sales are well underway, with the golf course nearing completion and only six of the project’s Phase 1 lots unsold as of August 2022.

Wohali Utah has entered an exclusive partnership with Sotheby’s International Realty, one of the most distinguished real estate brokerage companies in the world. Sotheby’s represents many distinctive properties on the global market, and its annual sales amount to $204 billion.

“Wohali Utah is an exceptional project,” noted Silverman. “With construction underway, an ample job cushion, and a prime location near Park City, we are very excited to be involved with the Wohali Utah project. Even more importantly for our investors, we expect Wohali Utah to fulfill all of the EB-5 program’s immigration requirements. Low-risk projects like Wohali Utah are relatively rare in the EB-5 industry, and the project’s rural TEA designation may allow our investors to immigrate to the United States sooner than they ever anticipated.”

Schoenfeld added, “EB5AN undertakes an exhaustive diligence process before deciding to sponsor an EB-5 project. We only work with well-funded, transparent, and USCIS-compliant projects. Wohali Utah meets and exceeds our strict criteria. We’re pleased to offer a project with a solid capital structure, exceptional job-creating capacity, and a proven and profitable business model in the housing sector.”

Wohali Utah CFO and board member Thomas Cottone said the following about partnering with EB5AN: “While working with EB5AN over the last two years on this project, I’ve been consistently impressed by their professionalism and transparency. After interviewing other regional centers, EB5AN was clearly the ideal sponsor. Their commitment to helping EB-5 investors immigrate successfully and safeguard their capital has been palpable every step of the way.”

Enquiries should be sent by e-mail to info@eb5an.com.

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Created in 1990, the EB-5 Immigrant Investor Visa has long been a gateway to the United States for foreign nationals living abroad, as well as for those already working or studying in the U.S. on nonimmigrant visas, including H-1B, L-1B, and F-1. Thousands of families from all over the world have successfully immigrated by making a job-creating investment in a U.S.-based business enterprise. The EB-5 program has facilitated billions of dollars of foreign direct investment into the United States and created tens of thousands of jobs over the last three decades.

EB5 Affiliate Network is an internationally known EB-5 investment fund manager, regional center operator, and consultancy that has facilitated more than $1 billion of investment under the EB-5 Immigrant Investor Visa program. EB5AN works with firms in multiple industries to create high-quality direct and regional center-sponsored investment offerings throughout the United States, with a total development cost exceeding $4.1 billion. EB5AN’s portfolio of low-risk investments in world-class business ventures has served over 2,000 immigrant investors from more than 60 countries.

Sam Silverman
EB5 Affiliate Network
+1 8002889138
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