They put their projects together, they manage their projects, they’re not involved in the ‘rent-a-loan’ system...they’re very much in the development business and that’s why we’ve been successful too.
Riverside, CA (PRWEB) October 31, 2012
USA Continental Regional Center is a successful USCIS designated regional center in Murrieta, California specializing in medical, commercial and senior housing. “Primarily we are a development group first,” says Al Rattan, President/CEO of USACRC, which obtained USCIS designation in 2011. Rattan is also the co-founder and president of Continental East Development, a self-funded real estate development firm that works in concert with USACRC in developing EB-5 financed projects.
Current USACRC projects include the Antelope Square shopping center and Continental Medical Center, a medical office building housing RadNet, a medical imaging center. Both projects are located in the city of Murrieta and were distressed properties USACRC bought and developed into successful businesses using EB-5 financing.
Rattan explains how USACRC used the EB-5 loan model to develop the projects. “Investors invest in a limited partnership that makes a loan, for example, to our development company [CED]. Since we have no debt on the property before they come into the property, they’re extremely secure and so the goal is after 5 years they would be paid off.” The other model regional centers use to structure their projects is called the equity model and refers to projects where the investor(s) take ownership in the property or business itself.
With a geographic regional scope spanning from Ventura County to San Diego County, USACRC’s upcoming projects include two assisted living senior centers; one in the city of Moreno Valley and the other in Indio. Rattan attribute’s the success of USACRC to being a development group foremost, citing the American Life Regional Center in Seattle, Washington as an example. He says, “They put their projects together, they manage their projects, they’re not involved in the ‘rent-a-loan’ system...they’re very much in the development business and that’s why we’ve been successful too.”
Rattan describes CED as an Asian Opportunity Fund meaning most of their investors are from Asian countries. Rattan explains that after the economic crisis in 2008, CED went to countries like China and Vietnam to seek investors interested in investing in the U.S. To date, Asian investment groups have funded 9 investments. The unique partnership between CED and USACRC allows for secure investments for foreign investors looking to obtain U.S. citizenship through the EB-5 program.