In Monday's Washington Post, David Cohen, Brownstein Hyatt Farber Schreck shareholder and EB-5 team lead, discussed the team's work on EB-5 projects.
"The EB-5 program is an interesting nexus of development finance, real estate law and immigration law," said Cohen. "With our roots in transactional work and the strength of our political work here in D.C., it naturally came together and made sense. As the use of EB-5 program has taken off in the last few years, we were part of that because our core competencies align with what the requirements are for the program."
Brownstein’s team brings unique capabilities to clients interested in the EB-5 program – a collaboration of government relations, real estate development, securities and financing attorneys and lobbyists who understand EB-5 projects.
What is EB-5? Developers starting projects that create a sufficient number of U.S. jobs may be able to use the EB-5 program to finance their deals in part or entirely. First established by Congress in 1990, the EB-5 program is intended to “stimulate the U.S. economy through job creation and capital investment by foreign investors.” Those who qualify for the EB-5 program will discover it is an interesting and cost-effective way to infuse vetted foreign investment dollars into new domestic construction and redevelopment projects. If it’s the right fit, EB-5 projects can drive development opportunities while creating important new domestic jobs often in rural areas or areas with high unemployment. As a result, EB-5 has broad political support.
Successful management of EB-5 projects requires a unique blend of legal, business and political insight. No other firm in the U.S. has as much experience managing the EB-5 process for some of the most significant EB-5 projects currently in the market. In addition, Brownstein has secured several new clients in the EB-5 category including LA-based real estate investment firm CIM Group, the Colorado Regional Center and the Portland-based Pearl Hotel Investors.
Click here for more information about Brownstein's EB-5 team.