Mainsail Lodging and Development announce their 2nd EB-5 project to provide financing to Waterline Hotel Marina Resort & Beach Club on Anna Maria Island, FL
Tampa based hospitality company announces a subsequent development project incorporating an EB-5 visa component to attract foreign investment into the U.S.
Tampa, FL (PRWEB) August 24, 2016
Mainsail Lodging and Development (Mainsail) is no stranger to creative financing options for their upscale real estate developments. Mainsail’s previous development, the Epicurean Hotel, was part financed through a partnership of foreign investors under the United States Citizenship and Immigration Services (USCIS) EB-5 visa program. The EB-5 visa program is intended to stimulate the U.S. economy through job creation and capital investment in the United States.
The funding concept applied in Mainsail's first EB-5 project which provided financing to the Epicurean Hotel by utilizing EB-5 investor funds to replace interim bridge financing, is now I-526 approved and paves the way for their successive EB-5 project, the Waterline Marina Resort & Beach Club (Waterline) situated on Anna Maria Island.
Waterline is currently under construction, with completion scheduled for February 2017, and will, similar to the Epicurean, operate as a member of the “Autograph Collection”, a boutique luxury hotel brand by Marriott International, Inc. When complete Waterline will be the island’s only full-service hotel and will blend the beauty of nature and the desire to unplug with luxurious modern amenities.
Waterline is an approximately 95,000 sq. ft. hotel, combining rooms and suites with the latter featuring a full kitchen, large living area and balcony. Dining will feature coastal cuisine at the signature restaurant and lively bar with poolside service. Explore the Gulf from the 50-slip marina, or take the complimentary shuttle to Holmes Beach and Waterline's guests-only beach club.
Mainsail has an appetite for island development, Anna Maria Island is a 7 mile long barrier island off the west coast of Florida bounded on the west by the Gulf of Mexico and connected by vehicular bridges to the mainland and to Longboat Key, Sarasota.
With certain key provisions of the EB-5 program dealing with regional centers set to “sunset” or expire on September 30, 2016, an exemplar petition was filed with USCIS in December 2015, that includes Waterline as a job creating entity. It is hoped that upon successful adjudication of the exemplar petition that current key provisions of the EB-5 program would remain and that processing times for I-526 petitions submitted may be reduced.
Mainsail has retained Prevail Capital, LLC, member FINRA/SIPC, to act as the exclusive private placement agent for the sale of EB-5 securities offered by Mainsail.
ABOUT MAINSAIL LODGING AND DEVELOPMENT
Mainsail Lodging and Development, established by Joe C. Collier, III in 1998, is a Tampa-based hospitality company that specializes in the development and operation of lodging products in the Southeastern US and the Caribbean. Their properties include hotels and resorts that are members of the Autograph Collection® of Marriott International and includes the Epicurean Hotel, Tampa, named by Marriott as Hotel of the Year 2015 Autograph Collection East, and Scrub Island Resort, a private island resort in the British Virgin Islands, also member of Autograph Collection® of Marriott International which was recently honored to receive the coveted Four Diamond Rating by AAA.
ABOUT THE USCIS EB-5 VISA PROGRAM
In 1990, Congress created the EB-5 Immigrant Investor Program to stimulate the U.S. economy through job creation and capital investment in U.S. businesses by foreign investors. In exchange for investing in a business that creates jobs for American workers, foreign nationals and their families can become permanent residents of the United States.