03 Sep ESI Jupiter Technology Park
September 3rd, 2011
Invest in the Future
The opportunity to invest in both new and existing companies, which are engaged in areas of biotechnology and science research, is within grasp for EB-5 investors with the new ESI Jupiter Technology Park. This latest EB-5 Investment opportunity presents foreign investors with another quality project to choose from in their decision to invest with the Florida Regional Center.
The ESI Jupiter Technology Park facility will bring new companies, initially located in New Zealand, to Jupiter, Florida and will be managed by Endeavour Sustainable Investments (ESI). Situated adjacent to the Jupiter Riverwalk along the intra-coastal waterway and within walking distance of the upcoming Harbourside Place Town Center, this facility will become the new biotechnology hub of Palm Beach County, similar to the development of the Scripps Research Institute, also located in Jupiter, Florida.
Fully pre-leased, this facility will be filled by approximately 10 exciting companies engaged in science research and biotechnology industries. Areas of research include non-invasive diabetes detection, clinical diagnostic technology, water efficiency systems, anti-cancer compounds and advanced manufacturing and ICT systems. These companies will collaborate and partner with professionals in U.S. companies to further advance their research and development in similar areas of technology and science.
The ESI Technology Park facility will consist of 50,000 square feet of office and research laboratory space including additional on-site parking. Allied Capital and Development of South Florida is the developer of the project and construction will be managed by Moss & Associates.
The project will create over 700 total jobs (direct, indirect and induced) and the facility will house approximately187 high-level research professionals and technology jobs. This is a cushion of over 50% of the jobs necessary to be created for successful removal of conditions by the United States Citizenship and Immigration Services (USCIS). As this is a Targeted Employment Area (TEA) each investor will be required to invest only $500,000 USD, as opposed to the normal $1 Million USD investment.
The total cost of the facility and property will be $12 million USD, with Endeavour Sustainable Investments AG (the German Parent) investing $34.5 million USD together with EB-5 funding of $24 million USD from 48 foreign investors using the EB-5 investment 5-year program. The project will also include cash investments of capital by ESI Jupiter, LLC in the amount of $48 Million into the companies relocating to the ESI Jupiter Technology Park. The Town of Jupiter Community Redevelopment Agency (CRA) has also committed to a $300,000 investment and a grant of $1.2 million USD in Tax Incremental Financing (TIF).
The EB 5 Investors will be fully secured by a first mortgage on the property and building, together with a lien on ESI Jupiter LLC’s rents, income and any return of capital from the Jupiter Technology Park tenants. Further security will be provided by a full guarantee by the parent company, ESI of Germany, a publicly traded company on the German Stock Exchange, which is valued at over $100 Million.
With an investment in the Jupiter Technology Park you are choosing to invest your EB-5 funds in a project that will not only create jobs, but also will help to advance the bio-technologies fields that could better the future of mankind.