Maefield Development is looking to raise $300 million in EB-5 financing for its $2 billion revamp of 1568 Broadway, which includes physically elevating the historic Palace Theater by 29 feet, according to documents circulated to Chinese investors. The EB-5 program, which offers foreign investors a U.S. green card in exchange for a $500,000 investment, has become a popular source of capital for developers, especially in a tough financing environment. Maefield, an Indianapolis-based real estate investment ... [more]
