Business & Finance

EB5 Capital Provides $8.5 Million for Huntington Hotel Group's Home2 Suites by Hilton Hotel in Temecula, California

WASHINGTON, DC. September 26, 2017 – Today EB5 Capital announced that it has provided $8.5 million in preferred equity financing for Huntington Hotel Group’s development and construction of a 120-room, all-suite, Home2 Suites by Hilton located in Temecula, CA. The hotel will serve business travelers as well as tourists in this popular wine region. The project is expected to create more than 300 jobs.

Located in the heart of the Rancho California Business Park, the hotel will include a business center, outdoor swimming pool, and fitness room. Each guest room features a well-equipped kitchen complete with a full-size refrigerator, dishes, flatware, and a microwave. Temecula has become a hot tourist destination, with more than 125 wineries projected to open over the next 20 years. The new hotel will be located just off Interstate 15, north of Old Town Temecula and within a ten-minute drive of one of the area’s largest employers, Pechanga Resort & Casino.

“We’re thrilled to be working with Huntington Hotel Group again, investing in our third project together,” said EB5 Capital Founder and President Angelique (Angel) Brunner. “They are an outstanding hotel development and management company that creates great jobs in areas that are too often overlooked.”

EB5 Capital raised the funds from 17 foreign investors through the EB-5 Immigrant Investor Program, which encourages job-creating capital investment. The EB5 Capital fundraising effort for this project was led by Brian Ostar, Director of Global Operations, and the investment was structured by Jon Mullen, Director of Investments. The Temecula hotel is one of six projects EB5 Capital is helping to finance in California, creating more than 4,000 jobs.

“Having worked with EB5 Capital to help finance our San Jose Airport hotels, we called on them to be an equity partner as we expand our footprint in Southern California,” said Kevin Keefer, Principal, Huntington Hotel Group. “The team at EB5 Capital knows commercial real estate – especially in the hotel space – as well as the EB-5 Program. Their expertise and professionalism have helped us leverage this critical source of capital.”

About EB5 Capital

EB5 Capital is a leader in the EB-5 immigrant investor industry, raising foreign capital from investors in more than 50 countries for investment in job-creating real estate projects across the United States. EB5 Capital owns and operates five USCIS-authorized Regional Centers that serve ten states and the District of Columbia. With a portfolio of 24 projects, EB5 Capital maintains a 100% project approval rate from the United States Citizenship and Immigration (USCIS). For more information, visit http://www.eb5capital.com.

About the USCIS EB-5 Visa Program

In 1990, Congress created the EB-5 Immigrant Investor Program to stimulate the U.S. economy through job creation and capital investment in U.S. businesses by foreign investors. In exchange for investing in a business that creates jobs for American workers, foreign nationals and their families can become permanent residents of the United States. The Program’s name, “EB-5,” comes from the visa category for which immigrant investors apply – the Employment-Based Fifth Preference Visa. The Program is administered by the United States Citizenship and Immigration Services (USCIS), an agency of the Department of Homeland Security.

About Huntington Hotel Group

Huntington Hotel Group and its affiliates provide management and/or financial services to both full and select service hotels. The company’s management portfolio consists of more than 2,400 full and select service hotel rooms. In addition to the current owned and managed hotels, the company has eight hotels under development. For more information, please visit http://www.huntingtonhotelgroup.com.

About Home2 Suites by Hilton

Home2 Suites by Hilton, one of the fastest-growing brands in the history of Hilton, is a mid-tier, all-suite award-winning extended-stay hotel concept designed to offer stylish accommodations with flexible guest room configurations and inspired amenities for the cost-conscious guest. With a commitment to environmentally friendly products and hotel operations, Home2 Suites offers complimentary breakfast selections with hundreds of combinations; innovative and customizable guest room design; laundry and fitness area; complimentary Wi-Fi Internet access; multiple outdoor spaces; 24-hour business center; expansive community spaces; and a pet-friendly environment. Visit http://www.home2suites.com for additional information.

EB5 Capital 6106 MacArthur Blvd., Suite 104 Bethesda, MD 20816 http://www.eb5capital.com

CONTACT:
Jan Hyland
media@eb5capital.com
202-836-8918

Coming Up In The November Online Hotel Business Review




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Feature Focus
Architecture & Design: Authentic, Interactive and Immersive
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