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ATLANTA – Peachtree Group (Peachtree) has received its I-956F approval from U.S. Citizenship and Immigration Services (USCIS), the government agency that oversees the EB-5 Immigrant Investor Program, for The Scoundrel, a Tribute Portfolio by Marriott hotel currently under construction in Gatlinburg, Tenn.

The I-956F approval marks a crucial step in Peachtree’s ongoing efforts to facilitate investment opportunities through the EB-5 program, which is designed to promote economic growth and job creation in the United States.

“Receiving USCIS approval for The Scoundrel represents another key milestone for our EB-5 platform,” said Adam Greene, executive vice president of EB-5 at Peachtree. “It reflects our commitment to structuring investments that create meaningful economic impact, support job growth and deliver lasting value for our investors and the communities we serve.”

Peachtree engaged an independent third-party to conduct a jobs study, which determined the development is expected to create 842 eligible jobs for EB-5 purposes, 1.68 times the 500 jobs required under the estimated investment amount, under scoring the project’s significant economic contribution to the region.

“Peachtree’s participation in the EB-5 program underscores our entrepreneurial grit and commitment to advancing initiatives that create a flywheel effect across our lending platform,” said Greg Friedman, managing principal and CEO of Peachtree. “We’ve helped institutionalize these investments within a program that drives economic growth and expands opportunities for meaningful, job-creating immigration.”

Peachtree originated $40 million in floating-rate construction financing over a four-year term for the development of The Scoundrel. The 133-room hotel will be ideally situated on one of Gatlinburg’s main commercial corridors, adjacent to the Gatlinburg Convention Center and steps from premier dining, shopping and entertainment. Located on the northwestern edge of the Great Smoky Mountains National Park, the most visited national park in the United States, the property offers convenient access to a region that attracts millions of visitors each year.

The hotel is expected to be completed by mid-2027.

This is the fourth hotel development for which Peachtree has received I-956F approval,having previously secured it for its SpringHill Suites by Marriott in Bryce Canyon, Utah; Home2 Suites by Hilton in Boone, N.C.; and TownePlace Suites by Marriott in Palmdale, Calif. Peachtree also received I-956F approval for its loan for the construction of a multi-family apartment project in Bradenton, Fla.

“With its proximity to the Great Smoky Mountains National Park, Gatlinburg is one of the most supply-constrained markets in the country,” said Greene. “High barriers to entry, including strict height and density limits and scarce developable land, make new construction rare. That dynamic, combined with sustained demand from millions of annual visitors, positions well-located, newly built hotels to significantly outperform the broader market.”

Peachtree launched its EB-5 program in 2023 as a key financing tool to support job-creating projects nationwide. The firm remains committed to delivering high-quality investment and development opportunities through its expanding portfolio of EB-5 projects.

The EB-5 visa program allows foreign investors to obtain a green card in exchange for making a significant investment in a new commercial enterprise that creates jobs in the United States. Under the program, foreign nationals who invest a minimum of $800,000 in a U.S.-based project that creates or preserves at least 10 full-time jobs for U.S. workers are eligible to apply for permanent residency.

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