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Birch North Carolina EB-5 Regional Center – Wilmington, North Carolina Convention Center Hotel Project (Embassy Suites/Hilton Hotels)

Project Summary

Total Project Cost – $32,000,000

Bank Loan & Developer Equity – $23,000,000

Total EB-5 Investment – $9,000,000

Number of EB-5 Investors – 18

Number of Jobs Projected – 338

Number of Jobs Required – 180

• USCIS Regional Center Approved
• Located in an approved Targeted Employment Area (TEA) – only $500,000 investment, plus offering expense fee of $40,000
• Construction to begin early 2014 for completion in 2015
• Project is located in downtown Wilmington, N.C., adjacent and connected to the new Wilmington Convention Center
• 174-room hotel with full-service restaurant and meeting spaces will carry the Embassy Suites (Hilton Hotels) flag
• Experienced and successful hotel development team
• Endorsed by Wilmington, N.C. city government
• Project will be substantially funded (72%) by developer cash equity and bank loan. 

Ben Cummings & Bruce Ricciuti, along with Kevin Keyser of Wexford Science + Technology, conducted a roundtable discussion entitled Innovative Financing: The EB-5 Immigrant Investor Program at the Association of University Research Parks International Conference held in Philadelphia September 25-27.  More info on AURP is available at www.aurp.net.  A copy of our presentation can be downloaded below.

UM students, Chrissy Houston & Maggie Ricciuti, tailgate with University of Miami President Donna Shalala at a recent Hurricane football game at Sun Life Stadium.

Ben Cummings conducted tours of the University of Miami Life Science & Technology Park in August for BirchLEAF Miami 31 investors.

Nearly 300 of the top real estate executives gathered at the fourth annual Akerman U.S. Real Estate Summit In Miami, Florida on April 12, 2013. The Akerman Summit explored the latest trends impacting investment in commercial real estate in the United States. Experts addressed the challenges still affecting the industry, the state of the global markets, and opportunities presenting value for investors.   Ben Cummings was a panelist on “Alternative Capital Sources: A Look at EB-5”.  Ben discussed the EB-5 program, as well as our success at the University of Miami Life Science & Technology Park and future projects.

New restaurants open in University of Miami Life Science & Technology Park

Launched in 2010, the Dolphins Cycling Challenge (“DCC”) is a two-day tri-county charity cycling event. The purpose of the DCC is to increase cancer awareness, encourage healthy hobbies, and raise funds for the University of Miami Sylvester Comprehensive Cancer Center. In 2011, DCC II raised $1,070,000 for Sylvester, more than doubling the funds raised in the 2010 inaugural ride.  Again in 2012, DCC doubled in ridership and in fundraising.   The DCC presented a check for $2,200,000 to Sylvester Comprehensive Cancer Center on November 25th, 2012.

Rides begin in Miami-Dade at Sun Life Stadium, in Broward at Huizenga Plaza and in Palm Beach at CityPlace through the weekend.   Along each route, water stops will belocated approximately every 15-20 miles, with food, beverages, entertainment, restroom facilities, medical treatment and mechanical assistance available for riders.

Following DCC, Cyclists will be honored by the Miami Dolphins on at a select home game.  The check representing 100% of allrider raised funds will be presented to Sylvester Comprehensive Cancer Center in a pregame on-field ceremony on that day.

Birch Capital’s Bruce Ricciuti’s, daughter, Maggie (right of Sebastian the Ibis), 19 and a 2nd year student at the University of Miami, rode for her aunt whose ovarian cancer is now one year in remission.