Developer offers Nigerian investors stake in U.S. high-rise property
Following the success rate of Houston EB5 in Nigeria, 3INVEST has introduced Thompson San Antonio hotel and Arts Residence to the West African market, and offering prospective investors the opportunity to buy into the San Antonio’s Museum District.
The Thompson San Antonio and Arts Residences positions itself as the premier luxury boutique hotel in San Antonio. Consisting of 20 storey, the – 162 guestroom and 58-residences will feature 15,000 square feet of riverfront meeting space and a Skybar Club, providing sweeping views of the city.
Designed to meet and compliment the needs of the San Antonio market, the Thompson San Antonio provides unparalleled elegance and comfort. Located at the epicenter of San Antonio’s vibrant performing arts district and across from the River Walk, the project is a $116 million, 20-level, 337,000-plus-square-foot mixed-use development.
The development slated for completion in 2019 will include The Arts Residences’ luxury condominiums atop San Antonio’s first Thompson Hotel, an international collection of design-forward, luxury lifestyle hotels and resorts. The groundbreaking ceremony of the premier project has been scheduled tomorrow at the project site in San Antonio, Texas.
About 40 per cent of the condominium homes in The Arts Residences at the Thompson San Antonio hotel has been sold since the sales gallery opened May 11, 2017, setting a new record for the fastest-selling high-rise luxury condominium project in Texas. The for-sale residences are priced from the high $400 to over $4.5 million for penthouses.
“Thompson San Antonio hotel and Arts Residences fits perfectly with 3Invest’s profile for high-quality EB5 investment funding. Like previous Houston EB5 projects, it has received great support from both the City of Houston and the City of San Antonio. A “TEA” designation has been assigned to the project, lowering the minimum investment amount from $1 million to $500,000”, said Acho Azuike, Chief Operating Officer and Managing Director, Houston EB5.
In the past five years, 3INVEST has partnered with Houston EB5; an investment programme administered by the U.S. government, offering foreign investors, the opportunity to become a US citizen by investing in the programme. The offer includes, complete capitalization of the investment project of choice, fast-track permanent and legal residency in the U.S for investors and their immediate family and; share in the profit of the project.
The minimum investment is $500,000, with repayment within 3-5 years at four per cent interest rate. Funds will serve as an additional equity capital to the partnership and the hard construction costs.
“Houston EB5 has a 100 percent success rate on I-526 and I-829 petition approvals for its investor clients,” said Roberto Contreras, President & CEO Houston EB5.
“Through the marketing of previous projects, Houston EB5 has established strong investor pipelines in Latin America, Africa, and Asia helping assure complete capitalization of projects,” said Emilio Guzmán, Executive VP & Chief Investor Relations of Houston EB5.
“Because of Houston EB5’s success in Nigeria with previous projects, we are now looking to expand our investor reach into Ghana, where we are certain many investors would like to take advantage of these immigrant investment opportunities for their families.”
“We are thrilled to bring Thompson Hotels’ unique brand of luxury to downtown San Antonio. This city is culturally and economically dynamic and has a robust future,” said Todd Wynne-Parry, Executive Vice President, Global Acquisitions and Development.
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