In 2016, Worldway celebrates its tenth anniversary of intensive cultivation in U.S. investment immigration. After ten years of accumulation, many EB-5 projects previously represented by Worldway have recently reported good news, including approvals, repayments, strong financial performance, stable operations, or smooth progress. Recently, it was learned from the project party that the Flats East Bank Phase I EB-5 project represented by Worldway has been operating smoothly as of July 2016, and the project has entered the active preparation stage for repayment.
Flats Project Progress Report issued by CIF in July 2016
Approval Progress
To date, all EB-5 investors who decided to file for I-829 have submitted their applications, and 63 investors have already received approval.
Actively Preparing for Repayment
Recently, it was learned from the project party that the Flats East Bank Phase I (Ernst & Young Tower) EB-5 project represented by Worldway has been operating smoothly as of June 2016, and the developer and the debt party for the bonds have begun seeking refinancing avenues to repay these debts.
Robust Project Operations
Cleveland International Fund (CIF) stated that it maintains a positive outlook on the developer's prospects, given the current credit market activity and the strong performance of the Flats project. The office building has an occupancy rate of over 90%, the hotel's average daily rate and occupancy rate are outstanding within the industry, and the retail property is fully leased.
Benefits from the Republican National Convention
The Republican National Convention, successfully held in Cleveland on July 18 and 21, brought in approximately 50,000 attendees. This is expected to benefit several of CIF's EB-5 projects, and the Flats East Bank Phase I (Ernst & Young Tower) EB-5 project has also seen a significant increase in hotel and dining customers.
For inquiries: 400-138-2929
