MHG, LP was formed in 2010 and is a limited partnership of 14 EB-5 investor limited partners with day-to-day management controlled by the general partner, R & R Capital Funding LLC. The overall development includes MHG; Peachtree Hotel Group; and, Castle Properties, a local real estate development company led by Mark Castleberry. EB-5 investors are responsible for $7,000,000 out of a $35,000,000 project organized in cooperation with the Mississippi Development Regional Center that built two adjacent mid-tiered hotels in Columbus, Georgia – a Fairfield Inn & Suites and a Courtyard by Marriott.
The Courtyard was complete and opened in early 2014. The Fairfield Inn was complete and opened in 2012. Both businesses are now doing quite well, as expected. The total development has created 217 jobs that can be credited to EB-5 investors, which is enough for all investors to successfully remove conditions on their Green Cards. Investors began filing I-829 petitions in April 2014 and redemptions are planned to begin in 2015. At the I-526 stage, investors enjoyed a 100% approval rate.