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Feb 3rd, 2023

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2 Miami properties paid for with EB-5 capital to be auctioned off

Two Miami properties, purchased for a total of $27 million by developer Fu Jing Wu (AKA Leo Wu), are set to be auctioned off. One parcel of land was supposed to be a mixed-use project with 139 hotel rooms, 324 apartments, and 25,000 square feet of commercial space; construction on the site stalled and the city has since declared it unsafe. The other property remains undeveloped. Wu collected $52 million from 132 Chinese EB-5 investors. 

South Florida Business Journal article (subscription required)

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