USCIS Grants Expedited Processing and Officially Approves BRC Legacy Fund, EB-5’s Most Powerful Equity Fund Ever Launched.
Congratulations to the Behring Team and Welcome to a New Age of EB-5 Investment!
Behring is proud to announce that USCIS has approved our first Legacy Fund investor’s I-526 petition. What’s even more spectacular is that USCIS granted expedited processing for the investor’s case, a first for Behring’s EB-5 platform. This USCIS approval ratifies BRC Legacy Fund’s approach to EB-5 which includes an unprecedented level of innovation and an approach that maximizes flexibility, choice and control for EB-5 investment.
The Legacy Fund I-526 investor petition was approved by USCIS directly, without a request for evidence (“RFE”) and not even a request for clarification. The Legacy Fund is evolutionary as it gives EB-5 investors more options to tailor their investments to their particular risk-return profile and immigration timelines. The Legacy Fund’s investments empower investors to access core-quality multifamily residential housing assets in one of the top real estate markets in the world, the San Francisco Bay Area and Silicon Valley. With this approval, it is another transformative and landmark win for Behring as we maintain our 100% approval history even while innovating and changing the industry with unprecedented offerings never seen before by USCIS.
Legacy Fund Features & Benefits:
- Customize and Diversify Investment with Multiple Options and Multiple Projects in the Same Fund: EB-5 investors can choose between preferred equity and common equity investments with the opportunity for higher returns that suit longer-term investments (particularly those facing retrogression). They can also blend their investments to customize their own risk-return profiles for more diversification.
- Investment Units are Convertible between Preferred and Common Equity: After the initial investment period, our preferred equity investors have the option to convert their units to common equity. EB-5 investors have the same options as traditional private equity investors: after completing their immigration requirements, EB-5 investors may continue to invest in core real estate assets in the Bay Area for the opportunity to generate long-term wealth.
- Better Exit, Liquidity & Redemption Options: Behring designed a redemption plan that many EB-5 insiders doubted was possible. After the initial investment period, EB-5 investors who have completed their 2-year conditional residence periods enjoy the option to redeem some or all of their units.
- More Flexible Investment Terms – Retrogression Solution: As an open-end real estate fund, it is a permanent investment vehicle that will own and operate high-quality residential apartments and other stable cash-flowing assets across the San Francisco Bay Area and Silicon Valley. This strong cash flow and flexibility helps investors enter and exit the Fund by purchasing and selling units like stock in a mutual fund. This solves the some of the retrogression difficulties facing investors from backlogged countries like India, Vietnam, China and more.
- Unprecedented Access to Better Quality Investments: The Legacy Fund operates as an institutional quality equity fund, providing world-class investment opportunities previously out of reach for EB-5 investors. EB-5 capital is no longer limited just to low-cost debt investment. Ultimately, the Legacy Fund offers our EB-5 investors the opportunity to participate in the EB-5 investment model by investing alongside the sponsor and benefiting from developments utilizing low-cost capital.
This is not the first time Behring chose to “Lead” when the rest of the industry prefers to “follow”. USCIS has approved 100% of Behring’s EB-5 industry innovations since 2013:
- Since 2013, Behring was one of the first regional centers to solely focus on residential apartment construction and indirect job creation. (Other firms preached that you “must” choose a hotel, senior living, or other operating models with only direct hiring);
- In 2015, Behring established an offshore EB-5 feeder fund specifically for EB-5 investment that solved for currency controls that kept hundreds of families from investing; and
- Since 2016, Behring pioneered the use of partial capital contribution and installment schedules to allow EB-5 investors superior ability to financially plan their investments, optimize their tax strategies, and protect their savings.
We are thankful to those that have chosen Behring as their EB-5 Regional Center. With this approval, we are further encouraged to innovate and strive to provide our EB-5 investors with better investments that promote U.S. job creation, result in U.S. economic growth, and earn U.S. permanent residency for them and their families. We want to especially thank David Hirson, Nima Korpivaara, Phuong Le, Warren Oakes, Tom Martin of Baker Tilly and Charles Kaufman of Lexcuity for putting together a flawless I-924 project petition and equally flawless Investor I-526 petition. In addition, a special thanks to Ben Tschann and Goodwin Proctor for their expertise in structuring our securities offering, an open-end fund vehicle that played a key part in this success.
Interested in Learning More About BRC Legacy Fund or Behring’s Other Investment Offerings?