My Regional Center has invested my EB-5 capital in a residential and commercial rental property by giving a mortgage loan to an entity they control to purchase the property. They are not committing to the exit strategy for this property. My I-829 is approved, and it has been 7 years (Feb 2018) since I invested in the regional center. I need to redeem my investment, but they constantly remind me that I don’t have the right to ask for redemption. They also don’t provide any timeline for redemption. The mortgage loan matures in 2033. I think they invested with an entirely different tenure and are deliberately exploiting us partners, as we do not have a say in how the partnership makes decisions. The partnership is structured so they get 75% and investors get 25%. Also, they show a lot of expenses in the income/expense statement that are not transparent. How can I exit from the partnership?
Answers
Thank you for your question. Unfortunately, it seems that you may need a litigation attorney to assist you. We would suggest reaching out to Rohit Thurkhud and his team at CSG Law, who have extensive experience in the EB-5 Industry.
Anthony Cummings
Litigation AttorneysYou have review the controlling documents for your exit rights; the Regional Centers have frequently and consistently included provisions in the documentation that frustrate the expectations of investors.
David Raft
EB-5 Immigration attorneysGiven that your I-829 has been approved, I do not see any issue with respect to your exiting the partnership. However, my practice is limited in scope to immigration law, and I cannot speak to the process by which you can effective exit that partnership. You may want to consult with a business attorney to assess the terms by which you entered into the LP and to see how you can best effectively exit the LP.
Lynne Feldman
EB-5 Immigration attorneysMay need a litigator but start with a business attorney in that state to review the project documents you signed to advise you of your rights.
Michael E Piston
EB-5 Immigration attorneysUnfortunately this is not an immigration law question. Rather, it is a question pertaining to corporate law. The best corporate lawyer I know is
Norman Ankers. You can find more information regarding him here:
https://www.foley.com/people/ankers-norman-c/
Robert V Cornish Jr
EB-5 Securities AttorneysYou will need a securities litigation attorney to review the partnership documents and the terms of the loan agreement to see if there is anything that can be done. However, “lending without ending” can also raise issues of consumer protection under the laws of some states, as well as corporate laws.
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