PEACHTREE RECEIVES APPROVAL FOR EB-5 FUNDED HOME2 SUITES IN BOONE, NC

PEACHTREE GROUP RECENTLY received I-956F approval from the U.S. Citizenship and Immigration Services, the agency overseeing the EB-5 Immigrant Investor
Program, for developing a Home2 Suites by Hilton in Boone, North Carolina. USCIS adjudicated the I-956F petition for the hotel development in five months,
Peachtree said in a statement.

“It is a testament to the due diligence of the Peachtree team that it was able to get the project approved so quickly, especially when the published processing
time is over 15 months,” said Adam Greene, Peachtree’s executive vice president of EB-5.

The company, led by Greg Friedman as CEO and managing principal, Jatin Desai as managing principal and Mitul Patel as principal, originated $21.7 million
in fixed-rate construction financing over a five-year term for Narsi Properties to develop the 105-room Home2 Suites near downtown Boone, Peachtree said.
Narsi Properties is led by Deven, Neel and Rupal Patel as principals.