LCR Capital Partners and HALL Group Receive First I-526 Approval for EB-5 Investors in Hall Arts II Fund LP
/ -- LCR Capital Partners announced today that the first I-526 approval has been received by investors in Hall Arts II Fund LP, an $82.5 million EB-5 offering financing the construction of the HALL Arts Hotel and Residences, a new luxury boutique hotel and residential high-rise located in Dallas, Texas. Dallas was ranked by PwC as the #1 real estate investment city in the United States. LCR is partnering with HALL Group, the project sponsor, who has a 50+ year track record as a successful real estate development and investment company with over $5 billion of total development experience.
An I-526 approval represents the completion of the first stage of the EB-5 immigration process for investors. According to the United States Citizenship and Immigration Service (USCIS), typical approval times for I-526 petitions range between 29 and 45 months. In contrast, the exemplar-approved HALL Arts project received its first I-526 approval 20 months after its submission.
"We are pleased to see ..