Regional center to foreclose on Cleveland hotel built with EB-5 money

  • Written by GCBI Team Posted on October 16, 2020 | Updated on October 16, 2020 | 1 min read

A regional center that financed the Westin Cleveland Downtown is looking to take control of the hotel. The hotel’s owners owe $37 million in mortgage payments, interest and fees. 72 EB-5 investors funded the project; while they have received their Green Cards, they have not yet received the return of their capital.

Read the Crain’s Cleveland Business article (subscription required)