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Jun 2nd, 2023

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Washington developer must pay $11.5 million in interest to EB-5 investors for a 2013 loan

As per an arbitrator's ruling, Point Ruston development companies must pay $11.5 million in interest to 132 EB-5 investors who provided a $66 million loan in 2013 for a waterfront project. The $11.5 million covers the interest and default penalty, while the principal amount of $66 million is due in April 2024. Apparently, the investors were able to receive Green Cards. The developer cites funding delays and refinancing as reasons for the delay.

Puget Sound Business Journal article (subscription required)

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