ATLANTA, Georgia—Peachtree Group (Peachtree) announced that it has received I-956F approval from U.S. Citizenship and Immigration Services (USCIS) for the development of a 116-room Homewood Suites by Hilton in Sugar Mountain, North Carolina. Peachtree originated the $28 million senior secured construction loan to fund the project through its EB-5 investment platform. The project represents Peachtree’s sixth EB-5 financing, bringing total capitalization across the platform to more than $177 million.
“We are pleased that USCIS gave the project a fast approval in under four months,” said Adam Greene, executive vice president of EB-5 at Peachtree. “Peachtree’s EB-5 projects are small, simple, secured senior loans that best serve developers and EB-5 investors. Peachtree’s approach to EB-5 allows investors to move forward with projects that are fundamentally sound and underway, promote the public policy goals of the EB-5 program, and give developers certainty that their projects are fully funded.”
Located at the base of Sugar Mountain, the hotel is positioned to capture demand from a range of year-round leisure and institutional drivers. These include Sugar Mountain Ski Resort, located one mile away, Lees-McRae College, Beech Mountain Ski Resort, Grandfather Mountain State Park, and Appalachian State University.
“Hospitality continues to stand out as a sector where new supply remains limited relative to demand, particularly in high-barrier-to-entry leisure markets,” Greene added. “As capital markets reset and financing becomes more selective, we are focused on opportunities where we can structure capital solutions that not only meet today’s constraints but also position assets for long-term outperformance.”
