ATLANTA, Georgia—Peachtree Group introduced that it has obtained its I-956F approval from U.S. Citizenship and Immigration Companies (USCIS), the federal government company that oversees the EB-5 Immigrant Investor Program, for The Scoundrel, a Tribute Portfolio by Marriott lodge at the moment beneath development in Gatlinburg, Tennessee.
“Receiving USCIS approval for The Scoundrel represents one other key milestone for our EB-5 platform,” mentioned Adam Greene, govt vp of EB-5 at Peachtree. “It displays our dedication to structuring investments that create significant financial affect, help job progress and ship lasting worth for our buyers and the communities we serve.”
“Peachtree’s participation within the EB-5 program underscores our entrepreneurial grit and dedication to advancing initiatives that create a flywheel impact throughout our lending platform,” mentioned Greg Friedman, managing principal and CEO of Peachtree. “We’ve helped institutionalize these investments inside a program that drives financial progress and expands alternatives for significant, job-creating immigration.”
Peachtree originated $40 million in floating-rate development financing over a four-year time period for the event of The Scoundrel. The 133-room lodge will probably be located on one in all Gatlinburg’s important industrial corridors, adjoining to the Gatlinburg Conference Middle and steps from eating, procuring, and leisure. Positioned on the northwestern fringe of the Nice Smoky Mountains Nationwide Park, the property gives entry to a area that draws hundreds of thousands of tourists annually.
The lodge is anticipated to be accomplished by mid-2027.
That is the fourth lodge improvement for which Peachtree has obtained I-956F approval, having beforehand secured it for its SpringHill Suites by Marriott in Bryce Canyon, Utah; Home2 Suites by Hilton in Boone, North Carolina; and TownePlace Suites by Marriott in Palmdale, California Peachtree additionally obtained I-956F approval for its mortgage for the development of a multi-family house mission in Bradenton, Florida.
“With its proximity to the Nice Smoky Mountains Nationwide Park, Gatlinburg is without doubt one of the most supply-constrained markets within the nation,” mentioned Greene. “Excessive limitations to entry, together with strict peak and density limits and scarce developable land, make new development uncommon. That dynamic, mixed with sustained demand from hundreds of thousands of annual guests, positions well-located, newly constructed resorts to considerably outperform the broader market.”
