First Investor in CMB Regional Centers Daytona Beach Project Receives Green Card Approval
DALLAS, June 02, 2025 (GLOBE NEWSWIRE) — CMB Regional Centers (CMB), one of the most experienced regional center operators in the EB-5 industry, today announced the first approval of a petition for conditional permanent residency in the United States (I-526E petition) by United States Citizenship and Immigration Services (USCIS) for an investor in its Group 84 – Hillwood Daytona BTS project.
The I-526E petition is filed by an individual seeking a green card through the EB-5 Immigrant Investor Program, with approval signifying the eligibility of the investor and their immediate family members for conditional permanent residency in the United States.
'This first approval of an I-526E petition is a significant milestone for our business and, most importantly, for the investors and families who have entrusted us with a critical step in their immigration journey,' said Noreen Hogan, President at CMB. 'We are thrilled for this investor and look forward to additional USCIS approvals in the near future.'
The CMB Group 84 EB-5 partnership lent $79.2 million to a Hillwood Development Company-affiliated entity for the construction of a Daytona Beach (Florida) build-to-suit logistics facility for a Fortune 500 tenant. CMB and Hillwood Development Company (Hillwood) have cultivated one of the most successful EB-5 lender-borrower relationships in the EB-5 space, with over 40 EB-5 projects and more than $500 million in EB-5 loan repayment to investors.
CMB and Hillwood have generated significant traction over the past year with regard to record-setting speed for approvals of their EB-5 collaborations, far outpacing the USCIS-reported 13 months (for 80% of cases) for I-956F petitions: CMB Group 89 – Hillwood City Creek (I-956F approved in 39 days)
CMB Group 86 – Gable House Apartments (I-956F approved in under five months)
CMB Group 90 – Hillwood Treeline (I-956F approved in just over six months)
CMB Group 93 – Coachella Valley (I-956F approved in three months)
CMB Group 98 – Hillwood Commerce 71 (I-956F approved in under three months)
About CMB Regional Centers
CMB has been a leader in the EB-5 industry for over 28 years, with its first regional center designation approved in 1997. Since then, CMB has assisted over 6,600 investor families, from over 100 countries, in their pursuit of immigrating to the United States. CMB currently maintains a 100% project approval rate on all partnerships that have undergone USCIS adjudication. To date, CMB has repaid over $1.4 billion USD to investors.
To learn more, contact CMB directly at [email protected].
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
13 hours ago
- Yahoo
5 Cars With Trade-In Values So Low That They're Not Worth Selling
Trading in a car can seem like the easiest way to upgrade your ride, but for some models, the dealer's offer will feel like an insult. In 2025, several vehicles are facing such steep depreciation and low demand that their trade-in values are shockingly low. Lauren Fix, automotive expert at Car Coach Reports, explained that high depreciation, oversupply and expensive maintenance are the main reasons these cars are so undervalued. Find Out: Read Next: Dealers also factor in brand perception and the cost of reconditioning, which can slash offers even further. For many owners, the trade-in value might be lower than what they could get from a private sale or even scrapping the car. Here are five cars with trade-in values so low that selling them to a dealer just does not make financial sense for most owners. Also consider these five cars are worth trading in for a newer model. The Jaguar I-PACE, an electric SUV launched with high hopes, now leads the pack in five-year depreciation, losing about 72.2% of its value, according to iSeeCars. Originally priced around $75,000, a 2020 model in average condition might only fetch $20,000 to $25,000 as a trade-in. Fix said this is due to rapid electric vehicle (EV) depreciation and low demand for Jaguar's aging design. Dealers hesitate to offer more because of high battery replacement costs and the brand's reputation for reliability issues. With a saturated used EV market and newer, more advanced electric models, the I-PACE's trade-in value is so low that owners should explore private sales or tax-deductible donations. Trending Now: The Maserati Levante, a luxury SUV, suffers from one of the highest depreciation rates in its class. According to CarEdge, it lost about 74% of its value after five years. Dealers are wary of the Levante's expensive maintenance and repairs, as well as Maserati's spotty reliability record, which further depresses its resale value. Fix said a 2019 Levante with an MSRP of $80,000 may only sell for $25,000 to $30,000, especially if it has considerable miles. For most owners, the trade-in offer will feel like a fraction of what the car once cost, making private sale, donation or keeping the car for personal use a smarter choice. The Nissan Leaf, once a pioneer in the electric vehicle market, now faces rapid depreciation due to outdated battery technology and limited range. According to CarEdge, the Nissan Leaf will 'depreciate 62% after 5 years' and have a '5-year resale value of $13,308.' The market for used Leafs is crowded, and dealers know that buyers prefer newer EVs with longer ranges, so they offer less to minimize their risk. For example, Fix said a 2020 model, initially $35,000, may only receive $10,000 to $12,000 in trade-in, a 60% loss in five years. Owners may find that selling privately or donating the car for a tax deduction will yield better value than accepting a dealer's lowball offer. The Chrysler 300, a full-size sedan once popular for its bold styling, now suffers from low demand and a poor resale reputation. According to iSeeCars, a new Chrysler 300 depreciates 52.1% after five years, resulting in a typical resale value of $16,422. Fix said excessive mileage (over 100,000 miles) or accident history can further reduce trade-in bids by 10 to 20%, frequently below private sale or trash value. Dealers are reluctant to pay more for a car that is difficult to resell, especially when factoring in reconditioning costs and the risk of sitting on unsold inventory. For many Chrysler 300 owners, trading in will not make sense financially, and exploring private sale options or keeping the car longer may be wiser. Auto mechanic and JustAnswer expert Chris Pyle suggests keeping the car if you need a spare or sell it online or from your front yard, rather than going to the dealership. According to Fix, Dodge Hornet was the slowest-selling new automobile, with a 299-day supply on dealer lots as of late 2024. She explains that an oversupply of slow-selling models, forces dealers to offer low trade-in values to clear lots. Moreover, CarEdge projects a Dodge Hornet will depreciate 65% after five years, with a three-year resale value of about $15,600, confirming the steep loss in value. Recent trade-in offers on CarMax show 2023 Dodge Hornets ranging from $21,000 to $24,000 for low-mileage vehicles. This means for higher-mileage or less desirable trims, trade-in values of $12,000 to $14,000 for a three-year-old model are realistic. Owners looking to maximize value should consider selling privately, donating for a tax deduction or holding onto the car until market conditions improve. Editor's note: Photos are for representational purposes only. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 4 Housing Markets That Have Plummeted in Value Over the Past 5 Years 6 Hybrid Vehicles To Stay Away From in Retirement This article originally appeared on 5 Cars With Trade-In Values So Low That They're Not Worth Selling
Hamilton Spectator
a day ago
- Hamilton Spectator
Carney government's ‘nation-building' bill becomes law despite Senate criticism
OTTAWA — Prime Minister Mark Carney's controversial legislation to fast-track 'nation-building' development projects received royal assent and became law after the rushed passage of Bill C-5 through the Senate on Thursday. But the legislative accomplishment — the first government bill to pass in both chambers under the minority Liberal administration elected April 28 — was marred by expressions of outrage from some senators, who criticized the legislation's creation of 'so-called Henry VIII' powers that allow the federal cabinet to override laws and regulations to approve development projects. Some also condemned what they saw as the bill's lack of consultation and requirements to respect Indigenous rights, suggesting the new process could get bogged down in the very opposition and delay that it is designed to avoid. 'Bill C-5 is not reconciliation. It's a betrayal of it,' said Sen. Paul Prosper, a Mi'kmaq lawyer from Nova Scotia, who told the red chamber his office received a deluge of 'racist vitriol' after he spoke about his desire to slow down the legislation that sped through the House of Commons last week with the support of opposition Conservatives. Yet some in that party still had concerns about the legislation. Mary Jane McCallum, a Conservative senator from Manitoba, argued Thursday that the bill gives too much power to the federal cabinet to choose projects, and to decide which laws and regulations are relevant to how they are approved. 'Canada is not a dictatorship, yet the so-called Henry VIII clauses in Bill C-5 bring us dangerously close to the precipice,' she said. After two days of debate, the Senate voted down several amendments that would have sent the legislation back to the House, and passed it as written without a recorded vote Thursday afternoon. It received Royal Assent from Gov. Gen. Mary Simon a short time later. Since introducing and pushing to pass the bill before Canada Day, the Carney government has defended the legislation as a necessary framework to boost economic growth and reduce reliance on the United States that has imposed steep tariffs that Ottawa deems illegal and unjustified. Last week, Carney also promised to host summits with Indigenous leaders in July to ensure there is participation on which proposed projects — from pipelines to ports and mines — are chosen for the fast-track process under C-5. The legislation gives the cabinet wide latitude to fast-track a development project based on 'any factor' it deems relevant. Although it's not written in the legislation, the government has pledged to finish the approval of fast-tracked projects so construction can begin within two years, while the special powers the bill creates are set to expire after five years. On Thursday, Sen. Hassan Yusseff, a former labour leader who advocated for the bill in the upper chamber, echoed the government's rationale that the special process to fast-track major projects — and a separate, less contentious part of the bill to lift federal barriers to trade and labour mobility inside Canada — are necessary because of U.S. President Donald Trump's trade war. His voice breaking with emotion, Yusseff made the case that the legislation is needed quickly to bolster the Canadian economy and help workers in the industries targeted by Trump's tariffs, from steel and aluminum to the auto sector. 'The men and women who build this country of ours are watching very closely,' Yusseff said. Throughout the day, senators debated the merits of the bill, with some arguing it forces Indigenous groups and environmentalists to trust the government to respect rights and standards, rather than force the government to do so. Some senators, however, said the bill's references to Indigenous rights in the Constitution, as well as the government's insistence it won't fast-track projects without provincial buy-in and Indigenous consultation, mean these concerns can't be addressed through amending the legislation. 'There's no bill we can pass that will guarantee the honour of the Crown,' said Alberta Sen. Patti LaBoucane-Benson. 'I don't think there's anything more we can do to the text of the bill to protect Indigenous rights.' Others, like Ontario Sen. Bernadette Clement, argued Parliament should take more time to improve the legislation and address concerns raised by environmental groups, Indigenous communities, and organizations like the Assembly of First Nations. 'Growing our economy, nation-building — yeah, that's urgent. It requires a timely an efficient response. But it doesn't require the trampling of Indigenous rights and our environmental protections,' Clement said. Marilou McPhedran, a senator from Manitoba, expressed shock that Conservatives and Liberals in the House voted en masse to surrender 'parliamentary sovereignty' to the cabinet under the bill. 'As we watch the results of the C-5 juggernaut roll out and roll over Canada, please remember this key question: are the constitutionally guaranteed rights to equality, to Aboriginal and treaty rights, the first to go with Bill C-5?' she said. The House of Commons made several amendments to the bill that some senators welcomed, including new reporting requirements on how projects are selected, and the creation of a parliamentary committee to oversee how the legislation is being used. The House also added a requirement to publish details of a project at least 30 days before it is named in the 'national interest,' and introduced limits so no projects can be added to the new process while Parliament is prorogued or dissolved. The legislation also requires the minister responsible for the law — currently Intergovernmental Affairs Minister Dominic LeBlanc — to consult with provinces, territories and Indigenous Peoples whose rights 'may be adversely affected' by a project. The Commons inserted a clause that requires the government to get 'written consent' from a province or territory — but not an Indigenous community — if a project falls within an area of its 'exclusive' jurisdiction. Sen. Marc Gold, the government representative in the chamber, said the bill is 'fundamentally about trust' that all groups — including the government — will act in the best interests of Canadians during a time of crisis after an election he said gave the Liberal minority government a clear mandate to pursue rapid economic growth. 'C-5 is indeed extraordinary, and indeed it entails unprecedented trust,' Gold said. 'This is not about any partisan interest, but in the interest of our country.'
Time Business News
a day ago
- Time Business News
10 Risks to Assess When Choosing a Work Visa for International Staff
Hiring international staff can open the door to a broader talent pool, global innovation, and a competitive edge. But with opportunity comes complexity, especially when selecting the right U.S. work visa. This article explores the key risk factors HR professionals, hiring managers and founders must consider when choosing a work visa for international hires. The first step in visa selection is determining whether the candidate qualifies for the chosen visa type. Misalignment here can lead to denials, audits, or worse. Common Risks: Misunderstanding degree requirements for H-1B visas Assuming 'extraordinary ability' under O-1 without strong documentation Using L-1 without sufficient intra-company history Mitigation Tip: Use corporate immigration platforms like Boundless, which help automate eligibility screening and prepare documentation for common work visas, including H-1B, L, and O visas. U.S. immigration timelines are notoriously unpredictable. Premium processing may shorten some timelines, but bottlenecks in consulates or USCIS offices can delay onboarding by weeks or months. Common Risks: H-1B cap lottery delays or rejections EB green cards are subject to country-specific backlogs (India and China, especially) Security checks and document requests prolong approval Mitigation Tip: Plan visa timelines 6–12 months in advance. Monitor Visa Bulletin updates to USCIS processing stages in order to identify delays early. Once a visa is approved, the employer must maintain compliance with Department of Labor and USCIS rules. Failure to do so can lead to fines or disqualification from future visa sponsorship. Common Risks: Incorrect wage level filings for H-1B Incomplete Public Access Files (PAFs) Misclassification of visa status (e.g., interns misrepresented as employees) Mitigation Tip: Work with HR platforms and legal partners that maintain digital audit trails. Use structured workflows for onboarding, compensation documentation, and visa updates. Visa processing can be expensive. Fees vary based on visa type, premium processing, legal counsel, and ongoing compliance. Average Costs (approximate): H-1B: $5,000–$10,000 L-1: $4,000–$8,000 O-1: $6,000–$12,000 EB Green Cards: $10,000–$20,000 over multiple years Mitigation Tip: Use transparent, flat-fee platforms for predictable budgeting when hiring international talent. More complex immigration cases might require an immigration attorney or in-house counsel. Visa constraints can affect job satisfaction, mobility, and retention. Employees waiting years for a green card or dependent on employer sponsorship may feel stuck, or leave when options arise. Common Risks: Long wait times for EB-2/EB-3 green cards Spouses unable to work (dependent visa restrictions) Employees lured by companies offering better immigration pathways Mitigation Tip: Provide long-term sponsorship roadmaps and support (EB categories), invest in employee experience, and communicate clearly about options and timelines. Not every visa aligns with your company's size, structure, or global goals. A mismatch can introduce friction. Examples: L-1 requires a qualifying relationship between foreign and U.S. entities O-1 demands extensive documentation of individual acclaim H-1B relies on a lottery (March–April), limiting spontaneity Mitigation Tip: Consider hybrid solutions: hire offshore temporarily, use remote-first models, or explore cap-exempt H-1Bs (e.g., through nonprofit partnerships or research institutions). U.S. immigration policy shifts with each administration, and even legal visa holders can be affected by sudden regulatory changes. Recent Trends: Travel bans, visa suspensions, or executive orders under the Trump administration Increased scrutiny of STEM-related H-1Bs Green card backlog reform debates in congress Mitigation Tip: Monitor immigration policy closely and build redundancy into your talent strategy (e.g., remote teams in Canada or EU). Platforms like Boundless Immigration also offer compliance updates and government alerts. Top talent often travels with spouses or children. A restrictive dependent policy may deter candidates. Considerations: H-4 spouses may not be eligible to work without an EAD (Employment Authorization Document) School access and local licensing for dependents Permanent residency path for family members Mitigation Tip: Include family support in relocation packages and immigration planning. Errors or embellishments in visa applications can lead to denials or blacklisting, even if unintentional. Examples: Inaccurate job descriptions or inflated credentials Fake degrees or work experience (especially from third-party firms) Misuse of Optional Practical Training (OPT) or Curricular Practical Training (CPT) Mitigation Tip: Conduct thorough reference and credential checks. Centralize application materials and vet with legal oversight. Can your chosen visa process scale as your company grows? Questions to ask: Is your legal partner or platform equipped to handle dozens of visas at once? Will your HR systems track visa milestones at scale? Can your business model handle recurring sponsorship costs? Mitigation Tip: Invest in tools for end-to-end visa lifecycle management. Choose partners who can scale with your hiring roadmap. TIME BUSINESS NEWS
