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LCR Joins RPC in Promoting Legacy Hotel & Residences – Miami Worldcenter EB-5 Project

LCR Capital Partners, a global private investment and advisory services firm, is happy to announce it will be raising capital in RPC’s Legacy EB-5 fund for Legacy Hotel & Residences, a new, luxury, mixed-use tower being built in the heart of Miami Worldcenter in Downtown Miami.

LCR is joining RPC, the developer that for over 40 years has changed the way people live by building high quality properties across Florida and in Miami, as co-manager on the EB-5 fund.

“This project follows the formula that made the Paramount Miami Worldcenter building so successful.  We focus on providing high-end amenities with an attention to the details like sophisticated building management systems and keyless entry.  With Legacy we are going further by adding a dedicated eight-floor health and wellness center as part of the building,” said Dan Kodsi, the CEO of Royal Palm Companies.

“We are thrilled to be working on Legacy Hotel & Residences.  A large part of our client base comes from Latin America and they understand the growth of Miami as a financial and business center,” said Sherman Baldwin, CEO of LCR Capital.  “Particularly during this Covid-19 period, there has been a large increase in investment in Miami.”

Downtown Miami has seen its population double in the last 20 years.  60 percent of the population are now college educated with 45 percent between 25-44, according to the Miami Downtown Development Authority.  These highly desired, professional residents have been attracted by the quality of the buildings, retail, attractions and transportation links in the area.

Legacy Hotel & Residences will have:

  • 310 residences and 219 hotel rooms
  • Downtown Miami’s largest hotel pool deck set on one acre
  • Miami’s first enclosed rooftop atrium in the top seven floors of the tower
  • An eight floor Center for Health + Wellness, one of the first designs in the U.S. for a post-covid-19 environment aimed to bring health back into people’s hands.
  • Members-only international business lounge
  • The latest technology for building systems and rental management

More details on https://www.lcrcapital.com/eb5-projects/legacy-world-center-miami/

As an EB-5 project, Legacy Hotel & Residences benefits from having multiple sources of building revenue spread across retail, residences, hotel, healthcare and event spaces.  It also benefits from being in a Targeted Employment Area under the new federal definitions set in November 2019.

Paramount Miami Worldcenter, which is adjacent to Legacy Hotel & Residences, has received strong reviews for its design and construction.  Partially funded with $100m of EB-5 capital, over 70 of its international investors have received their I-526 approvals which is the step that clears the way to get a conditional green card.  With the Paramount Miami Worldcenter, RPC pre-sold 90 percent of the units before it opened.  They completed the construction in four years between 2015 and 2019.

Legacy Hotel & Residences also has strong momentum in its pre-sales with both domestic and international buyers.

Accredited investors that are interested in U.S. residency can contact LCR at any time to learn more.

About RPC and Daniel Kodsi

Daniel Kodsi is a real estate veteran and CEO of RPC, a leading real estate development firm with more than 40 years of history. Established in the 1970s, RPC has developed over 6,000 units across mixed-use, master-planned communities, hotels, multi-family, and high-rise residential projects exceeding more than $3.5 billion in asset value with over $2 billion in the pipeline. Under Daniel Kodsi’s leadership, the company has developed and repositioned more than 50 projects and delivers a proven track record of identifying underserved market opportunities and executing complex large-scale projects.  With its visionary leadership, deep market insight and data driven analytics; RPC’s developments are considered a combination of exceptional design, cutting-edge execution, and luxurious amenities that elevate the lifestyle of residents, guests and communities while generating value for both private and institutional investors.

About LCR Capital Partners

LCR Capital Partners is a private investment and advisory services firm that supports families interested in global opportunities. Founded in 2012, the firm’s primary focus is supporting clients interested in immigrant investor programs. LCR has helped over 850 clients move to the United States using the EB-5 Immigrant Investor Visa. LCR also works with the E-2 Investor Visa, the Portuguese Golden Visa, and Grenada’s Citizenship by Investment program.   The firm offers additional services to help foreign nationals moving to the United States through two subsidiary companies: International Investors Mortgage and LCR Wealth Management. Over the past 5 years, LCR has built long-term, trust-based relationships with a global client base of high-net-worth families in over 30 countries around the world.  LCR is headquartered in Westport, CT, and runs a global network with teams in Miami, San Francisco, São Paulo, Dubai, Singapore, and Mumbai.

As a trusted partner for families interested in U.S. immigration and investment, LCR is working with Royal Palm Companies, a developer that for over 40 years has changed the way people live by building high quality properties across Florida and in Miami.

“This project follows the formula that made the Paramount Miami Worldcenter building so successful. We focus on providing high-end amenities with an attention to the details like sophisticated building management systems and keyless entry. With Legacy we are going further by adding a dedicated health and wellness center as part of the building,” said Dan Kodsi, the CEO of Royal Palm Companies.
“We are thrilled to be working on the Legacy project. A large part of our client base comes from Latin America and they understand the growth of Miami as a financial and business center,” said Sherman Baldwin, CEO of LCR Capital.

Downtown Miami has seen its population double in the last 20 years. 60% of the population are now college educated with 45% between 25-44, according to the Miami Downtown Development Authority. These highly-desired, professional residents have been attracted by the quality of the buildings, retail, attractions and transportation links in the area.

“We have reviewed many potential EB-5 projects. The strength of Royal Palm Companies gives our clients assurance that their capital will be preserved and the ongoing I-526 approvals on the adjacent Paramount building give confidence they will receive their immigration benefit,” said Joe Haggenmiller, President of LCR Capital.

Legacy will have

  • 290 residences, 256 hotel rooms
  • Miami’s largest urban pool
  • A distinctive rooftop atrium entertainment space
  • An in-building Health & Wellness Center
  • The latest technology for building systems and rental management

More details on our project page.

As an EB-5 project, Legacy benefits from having multiple sources of building revenue spread across retail, residences, hotel, healthcare and event spaces. It also benefits from being in a Targeted Employment Area under the new federal definitions set in November 2019.

The Paramount Miami Worldcenter building, which is adjacent to Legacy, has received strong reviews for its design and construction. Part funded with $100m of EB-5 capital, over 70 of its international investors have received their I-526 approvals which is the step that clears the way to get a conditional green card. With the Paramount Miami Worldcenter, Royal Palm Companies pre-sold 90% of the units before it opened. They completed the construction in 4 years between 2015 and 2019.

Legacy Hotel & Residences also has strong momentum in its pre-sales with both domestic and international buyers.

Accredited investors that are interested in U.S. residency can contact LCR at any time to learn more.

About Royal Palm Companies and Daniel Kodsi

Mr. Kodsi is a real estate industry veteran with more than 30 years of experience in real estate development, capital investment, and asset management. He is recognized as an industry leader and a visionary for the development of large-scale complex mixed-use developments. Mr. Kodsi is the managing principal of Royal Palm Companies, where he has held the position of CEO since 1991. In his career, he has developed over $3.5B in completed projects and has over $2B in the pipeline. Mr. Kodsi had delivered over 6,000 units consisting of over 10 million sq. ft. of mixed-use, master-planned communities, hotels, multi-family, and high rise residential. He has a keen ability to identify underserved markets and an aptitude to envision and execute large-scale development earning him a reputation of capitalizing returns and generating value for both private and institutional investors. Mr. Kodsi is a frequent conference speaker on real estate and investment. He has appeared as a guest on major cable business networks such as CBS World News, CNN, CNBC, MSNBC, Bloomberg News. Mr. Kodsi holds a BSBA in Real Estate Finance and a minor in Urban Planning and Architecture from the University of Miami and is a licensed general contractor.

About LCR Capital Partners

LCR Capital Partners is a global private investment and advisory services firm that is the ideal partner for families interested in U.S. immigration and investment. LCR is a leader in new EB-5 markets such as India and Brazil. The firm focuses on conservatively structured funds invested in signature real estate developments. These projects create new American jobs and help develop communities across the United States. Over the past 5 years, LCR has built long-term, trust-based relationships with a client base of over 800 HNW investors from 30+ countries managing their EB-5 process to gain U.S. residency. LCR is headquartered in Westport, CT and runs a global network of five regional offices: Miami (Latin America); São Paulo (Brazil); Dubai (GCC), Singapore (Southeast Asia) and Mumbai (India).

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EB-5 Program Update:

The EB-5 Program has lapsed. The US Congress is discussing the legislation that authorizes the program while USCIS reviews the regulations and policies for filing. Because of the recent court ruling that reversed the 2019 Modernization regulations, the investment level has shifted temporarily from $900,000 back to $500,000.

If the program is reauthorized before the regulations are updated, there may be another window of opportunity to file at $500,000.

LCR expects the program to be reauthorized in December, and continues to work with international families that want to explore alternative residency options.

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