In 2012, a trio of developers drew up plans to build a 12-story InterContinental hotel in Fort Lauderdale Beach. The Las Olas Ocean Resort would include a 12,000-square-foot restaurant from the management company behind Senior Frog’s. To fund the development, the ownership group tapped Bancorp Bank and later, dozens of Chinese investors who poured in millions of dollars through the federal EB-5 visa program. In all, around $75 million flowed into the project. But today, […]
source https://therealdeal.com/miami/2018/10/30/what-happens-when-an-eb-5-project-fails/#new_tab
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