WASHINGTON, June 12, 2024 (GLOBE NEWSWIRE) — EB5 Capital, a leading EB-5 Regional Center operator, is pleased to report that on May 30, 2024, its restaurant project, The Bazaar DC by José Andrés (JF33), was approved by the United States Citizenship and Immigration Services (USCIS). This Form I-956F approval signifies that USCIS has verified the compliance of JF33, and the individual foreign investors who invested in the project are now closer to obtaining conditional residency in the United States.
The Bazaar DC by José Andrés (JF33) is the development of a 227-seat, approximately 10,000 square-foot, high-end restaurant located in the historic Waldorf Astoria in Washington, DC. EB5 Capital provided a portion of the financing for JF33. The Bazaar DC by José Andrés opened to the public in 2023 and is among 20 EB5 Capital projects in the nation’s capital. In 2019, EB5 Capital also supported the financing of The Ritz-Carlton New York, NoMad, which includes another location of The Bazaar.
EB5 Capital’s JF33 project is owned and managed by José Andrés Group (JAG), a highly reputable and respected restaurant operator based in Washington, DC with nearly 40 restaurant concepts across the United States and internationally, including The Bazaar by José Andrés, barmini, Jaleo, Zaytinya, China Poblano, Oyamel, China Chilcano, in addition to an array of others in its fast-casual division. Sam Bakhshandehpour was recently promoted to Global CEO of the José Andrés Group (JAG), formerly he served as President, and world-famous chef and humanitarian José Andrés, will continue to serve as Founder and Executive Chairman of JAG.
“We would like to congratulate the investors who joined JF33, the first restaurant project in our 40-project portfolio,” said Patrick Rainey, Senior Vice President of Investments at EB5 Capital. “This approval is also a major milestone for our team as it marks our 10ᵗʰ project approved since the EB-5 Reform and Integrity Act of 2022 went into effect.”
EB5 Capital is looking forward to receiving individual I-526E petition approvals from USCIS soon and supporting its investors with the next steps in the immigration process. The firm will continue to identify and execute on EB-5 projects that not only meet the rigorous requirements of USCIS but contribute meaningfully to local communities and economies across the United States.
About EB5 Capital
EB5 Capital provides qualified foreign investors with opportunities to invest in job-creating commercial real estate projects under the United States Immigrant Investor Program (EB-5 Visa Program). Headquartered in Washington, DC, EB5 Capital’s distinguished track record and leadership in the industry has attracted investors from over 75 countries. As one of the oldest and most active Regional Center operators in the country, the firm has raised over $1 billion of foreign capital across approximately 40 EB-5 projects. 100% of our investors’ funds are protected by the Federal Deposit Insurance Corporation (FDIC) insurance prior to their deployment into our projects. Please visit www.eb5capital.com for more information.
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