A NEW era is dawning on the real estate sector, especially in the United States, where property developers in conjunction with the authorities are offering investors permanent residency through the EB-5 programme, in addition to the prospect of a good return on projects’ investments.
The new trend is being launched for buyers into Marlowe, a 20-storey, 100 residence contemporary tower with one, two, and three bedroom floor plans, located in the heart of downtown Houston.
3INVEST is promoting the real estate investment opportunity in Nigeria as they extend their partnership with Houston EB5 to raise capital for Marlowe in the region. Houston EB5 is a Real Estate investment company offering potential investors, the opportunity of investing in Real Estate development in Houston Texas.
The EB5 investment programme administered by the U.S. Citizenship and Immigration Services under the Department of Homeland Security, allows investors who make a qualified investment to fast track permanent legal residency in the United States for themselves and their immediate family without the usual roadblocks or red tape associated with the immigration process.
Ideally situated, Marlowe provides the very best living experience downtown Houston has to offer: professional sports venues, parks, shopping centers, restaurants all within less than 200 meters. With sophisticated finishes and a host of outstanding services and amenities, Marlowe is the pinnacle of an eat sleep work play lifestyle.
In 2010, Houston EB5 tapped a federal programme targeting wealthy foreigners to fund their real estate projects; a $70 million residential tower in the vibrant Houston Galleria area called Astoria and a $48 million eight storey, 240-unit apartment building in the heart of Downtown Houston called Block 384. The raise for Astoria was completed with $30M from EB5 investors and the raise for Block 384 with $12 million.
Houston EB5 boasts a 100 per cent success rate on Green Card approvals and because of this success they have now started raising funds for their next project, a luxury residential tower in Downtown Houston called Marlowe.
Like previous Houston EB5 projects, Marlowe has received great support from the City of Houston. A “TEA” designation has been assigned to the project, lowering the minimum investment amount to $500,000 as opposed to $1,000,000. Through the marketing of previous projects, Houston EB5 has established strong investor pipelines in both Latin America and Africa, helping to assure complete capitalization of projects, according to Emilio Guzmán, Chief Investor Relations of Houston EB5.
Houston luxury condominium developer, Randall Davis and his partner in Houston EB5, Mexico City native and Houston entrepreneur, Roberto Contreras, are completing construction on the Astoria building, and are excited about the development of Marlowe.
“Given its ideal location, Marlowe will provide the very best living experience downtown Houston has to offer: professional sports venues, parks, shopping centers, and restaurants all within walking distance.” said Mr. Davis.
“Astoria was really made possible thanks to the help of foreign investors, and we are steadfast on continuing to build and strengthen our relationships with investors abroad,” said Contreras, an immigrant investor himself.
“Our continued accomplishments overseas are a testament to the opportunities the EB5 programme provides. The EB5 programme has allowed us to complete more projects in the Houston area and we look forward to expanding our investor reach in Nigeria as well as other African countries”
The majority of the investors in Houston EB5 have subscribed for previous projects are from Mexico and other Latin American countries with Nigeria close behind, Managing Director of Houston EB5 Regional Centre, said Acho Azuike. “For future projects we plan to attract more investors from Nigeria because they have comprised a large part of our past developments. Nigerians are familiar with the Houston area already and we now have a track record of success because of our Astoria and Block 384 projects.”
He said that Houston EB5 has stayed committed to bringing developments of impeccable design and elegance to Houston and to sustaining the strong economic environment from which the city has grown.
“Given that real estate investments remain much safer in nature than typical business investments, compounded with Houston’s strong economy, participants in Houston EB5’s Marlowe project can expect a more reliable and timely return on their investment. Houston EB5 believes Nigeria can become a crucial part in helping to expand the city’s skyline by investing in Houston EB5’s developments,” he said.
By Chinedum Uwaegbulam (Guardian Newspaper)