Top Investment Firm to Launch Direct EB-5 Fund for New Times Square Restaurant During October 21 Virtual Event

NEW YORK, NEW YORK, UNITED STATES OF AMERICA, October 18, 2021 / — EB5 Affiliate Network (EB5AN), a leading EB-5 investment fund manager, regional center operator, and consultancy, has launched a new direct investment, the latest in a series of offerings that began in July. Open to foreign investors seeking permanent U.S. residency, the investment is a Class B equity interest in a New York City restaurant venture. Details will be announced during a live webinar on Thursday, October 21, 2021, at 2:00 PM EDT. Click here to register.

Popular Manhattan dining spot The Mermaid Inn will open its fourth location at 127 West 43rd Street, near the city’s iconic Times Square. Existing locations in Chelsea, Greenwich Village, and the Upper West Side have earned critical acclaim and a loyal clientele. Widely regarded as one of the best casual seafood restaurants and oyster bars in New York, The Mermaid Inn is expected to grow its local fan base when it opens in Midtown in June of next year.

The latest iteration of The Mermaid Inn will be operated by New York-based Alicart Restaurant Group. Alicart’s portfolio includes Carmine’s Italian restaurant and Virgil’s Real Barbecue, which has locations in Manhattan, Atlantic City, Las Vegas, Washington, D.C., and the Bahamas. The company has more than 1,000 employees who drive more than $100 million in sales from more than three million guests each year. The Carmine’s location in Times Square has earned the top spot on Restaurant Business magazine’s Top 100 Grossing Independent Restaurants for seven years running and has been called a “roaring success” by New York Magazine.

“We are excited to be working with the team at Alicart,” said Sam Silverman, founder and managing partner of EB5AN. “CEO Jeffrey Bank and his staff are world-class restaurant operators with an impressive record of success. That is what we look for when selecting a partner for EB-5 investment. The Mermaid Inn is a proven concept and very well positioned for continued growth. The new location in Times Square is a winning investment any way you look at it. Our team is proud to offer immigrant investors a chance to be a part of this venture.”

Direct EB-5 investments are now the only option available for foreign nationals who wish to apply for green cards under the United States’ immigrant investor program. The regional center program, which historically has been the most popular option for EB-5 investments, expired on June 30 and has not yet been reauthorized by the U.S. Congress. Given the uncertainty of the program’s future and the high probability that U.S. Citizenship and Immigration Services (USCIS) could soon increase the minimum investment amount, many aspiring immigrants are seeking sound investments in viable business enterprises.

“Direct EB-5 investments are the only game in town,” added Silverman. “Our phones haven’t stopped ringing since the minimum investment amount reverted to $500,000, and the lapse of the regional center program leaves many prospective investors in unfamiliar territory. They want high certainty of outcome and low risk. An investment in The Mermaid Inn at Times Square provides exactly that.”

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Created in 1990, the EB-5 Immigrant Investor Visa has long been a gateway to the United States for foreign nationals living abroad, as well as by those already working or studying in the U.S. on nonimmigrant visas including H-1B, L-1B, and F-1. Thousands of families from all over the world have successfully immigrated by making a job-creating investment in a U.S.-based business enterprise. The EB-5 program has facilitated billions of dollars of foreign direct investment into the United States and created tens of thousands of jobs over the last three decades.

EB5 Affiliate Network is an internationally known EB-5 investment fund manager, regional center operator, and consultancy that has facilitated more than $1 billion of investment under the EB-5 Immigrant Investor Visa program. EB5AN works with firms in multiple industries to create high-quality direct and regional center-sponsored investment offerings throughout the United States. EB5AN’s investment funds serve immigrant investors from more than 60 countries with a portfolio of low-risk investments in world-class business ventures.

Jeremy Shackle
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Source: EIN Presswire