EB-5 money up in the air after Greenland agrees to sell Pacific Park

Nicholas Mastroianni, Daniel Brodsky, and Greenland USA CEO Hu Gang and a rendering of Pacific Park in Brooklyn

More than $60M will have to be redeployed at a time when EB-5 investors face long wait times for visas

Another EB-5 loan has hit a snag — this time at Brooklyn’s 22-acre Pacific Park megaproject.

Roughly a quarter of a $249 million mezzanine loan that Chinese EB-5 investors pooled together for the next phase of the project will have to be redeployed after one of the development sites traded hands, sources told The Real Deal.

Source: https://therealdeal.com/2019/02/21/eb-5-money-up-in-the-air-after-greenland-agrees-to-sell-pacific-park-site/