WASHINGTON, Jan. 31, 2019 (GLOBE NEWSWIRE) -- EB5 Capital joins Quadrangle Development Corporation, Capstone Development, and Crestline Hotels & Resorts in celebrating the grand opening of the Courtyard and Residence Inn by Marriott located at 901 L Street, NW. The new dual-branded hotel is part of a triplex of Marriott properties serving the District’s Walter E. Washington Convention Center. The first phase of the triad of hotels was the Marriott Marquis, which also used EB-5 funds raised by EB5 Capital.
“Seeing the opening of this much-needed hotel project is yet another incredible milestone for our firm,” said Brian Ostar, EB5 Capital’s Senior Vice President of Global Operations. “Quadrangle and Capstone went to great lengths to preserve the historic architecture of the site, and their attention to detail paid off in what will be an extremely attractive hospitality option for those visiting the District.”
EB5 Capital funded $40.5 million as a preferred equity investment, creating over 2,500 EB-5 qualifying jobs. Located in the heart of DC’s business district, the 504-key property opened to the public on November 9, 2018.
“It’s extremely rewarding for our investors to see such an amazing finished product,” said Patrick Rainey, Vice President of Investments. “We’re looking forward to providing official site tours to our investors who have plans to visit Washington, DC.”
About EB5 Capital
EB5 Capital is a leader in the EB-5 immigrant investor industry, raising foreign capital from investors in more
than 55 countries for investment in job-creating real estate projects across the United States. EB5 Capital owns
and operates six USCIS-authorized Regional Centers that serve 15 states and the District of Columbia. With a
portfolio of 25 projects, EB5 Capital maintains a 100% project approval rate from the USCIS. For more
information, visit http://www.eb5capital.com.
Contact:
Ben Carter
(202) 652-2437
media@eb5capital.com