$116 Million EB-5 Loan Repaid EarlyMarch 15, 2019
CMB and Great Wolf Lodge (GWL) have a long history dating back to 2011, when CMB first started talking about raising EB-5 capital for their Anaheim location. Since then, CMB partnerships have raised a combined total of $229 million for three separate GWL projects. These three partnerships combined have a total development cost of approximately $650 million and are creating thousands of US jobs. CMB believes that the three CMB partnerships will help the 458 limited partners achieve success of their primary goals: permanent green cards and return of capital.
The first of these three partnerships was Group XVI, Great Wolf Lodge – Garden Grove, a 603 suite hotel in Anaheim, CA, with approximately 150,000 square feet of indoor and outdoor water park space, and roughly another 60,000 square feet of conference, retail, and restaurant space. This GWL hotel had its ground breaking ceremony in May of 2014 and after two years of construction had the grand opening in February 2016. Since their grand opening the GWL has run above industry standard occupancy ratings, which is fantastic news.
Group 51 Great Wolf Lodge in LaGrange, GA, which is outside of Atlanta, GA was a $200 million development. Group 51 invested $72 million by means of a loan for cost associated to the construction of 456 suite hotel, with approximately 120,000 square feet of indoor and outdoor water park space and 100,000 square feet of additional retail, lobby, and entertainment space.
Group 67 Great Wolf Lodge outside of Scottsdale, AR, is a $156 million development. Group 67 invested $40.5 million for the construction of a 350 suite hotel, with approximately 85,000 square feet of water park space, and approximately 80,000 square feet of lobby, meeting and entertainment space.
CMB has now been able to help over 4,700 EB-5 investors achieve I-526 approval success, and over 1,100 EB-5 investors achieve I-829 approval for a permanent green card. These are truly important milestones when it comes to the EB-5 program, since it is the main reason any investor chooses to move forward with an EB-5 investment. To date, CMB EB-5 partnerships have been able to return over $430 million to their respective limited partners.
“Put the clients’ needs first and our success will follow”, Pat Hogan - CMB’s Founder. It is core values like these that have been at the foundation of CMB’s success for the past 27 years.
Once again, congratulations to the Group XVI partnership!
View Past Projects and Current EB-5 Projects