Receives Its First I-829 Approval – Behring Regional Center’s BRC Partners IV LP EB-5 Fund (‘Madison Park Project’)
Behring Co. is excited to share that Behring Regional Center’s BRC Partners IV LP EB-5 partnership for the Madison Park EB-5 Project has achieved its first EB-5 investor I-829 approval. This is a remarkable milestone not only for Behring Regional Center but also for the Behring Regional Center limited partner who received approval and the other BRC Partners IV LP EB-5 limited partners who are eagerly awaiting their own I-829 adjudication. The I-829 approval signifies that the Madison Park EB-5 Project has resulted enough job creation to fulfill the job creation requirements for each EB-5 investor in the fund.
The I-829 petition marks the final stage in the EB-5 process for immigrant investors. Upon approval of the I-829 petition, also known as the Petition by Investor to Remove Conditions on Permanent Resident Status, the EB-5 petitioner and their immediate family members are granted U.S. permanent resident status. This achievement opens up the possibility for the EB-5 petitioner and their family to pursue naturalization and become U.S. citizens.
This significant accomplishment stands as a testament to the effectiveness of our investment strategies and underscores our unwavering commitment to fulfilling all requirements set by the United States Citizenship and Immigration Services (USCIS). Our meticulous approach, attention to detail, and comprehensive documentation have paved the way for a straightforward approval process.
Behring’s BRC Partners IV LP fund for the Madison Park EB-5 Project operates as a loan-style investment partnership. In this structure, 35 EB-5 investors have collectively invested $17,500,000 as a loan to Madison Park Financial Corporation. This funding is allocated towards the construction of 212 apartments across three projects situated in the Oakland and Emeryville markets of the San Francisco East Bay Area. The EB-5 limited partners in the fund hail from various countries, including India, China, Brazil, the Philippines, the United Kingdom, and Canada.
The Madison Park EB-5 Project encompasses three distinct apartment buildings: 3030 Chapman, Hollis Oak, and Hannah Row. Each of these projects offers convenient access to BART (metro) and is less than 20 minutes away from Downtown San Francisco and the U.C. Berkeley campus. Through the development, construction, and ongoing operations of these apartments, the Madison Park EB-5 Project has made a significant economic impact on the communities where they are located. As of the end of 2022, the project has created a total of 542 jobs, thereby fostering economic growth in California.
The Madison Park EB-5 project completed its capital raise in October 2018 and is closed to new investment. Behring’s latest EB-5 project offering, 1900 Broadway is currently accepting new investors, and offers three different investment options for EB-5 investors to select from, including Debt (Max Protection), Preferred Equity (Basic Income), and Common Equity (Wealth Builder). If you or someone you know is considering EB-5 investment as a path to secure U.S. permanent residence, we encourage you to schedule an appointment with our team. Our team of EB-5 experts will help to answer your questions about the EB-5 program, introduce Behring’s latest EB-5 investment offerings, structure personalized EB-5 investment plans, and discuss EB-5 financing options.