Beyond Global Management is looking to expand its EB-5 real estate credit platform with
the goal of raising $300m for new EB-5 real estate funds in 2025, With Intelligence has
learned.

The firm engages in both EB-5 and non-EB-5 investments, including real estate, private
credit and equity.

In addition to EB-5 projects, Beyond Global offers credit facilities such as bridge loans,
senior debt and preferred equity to real estate developers, providing capital outside of
the EB-5 program.

“We offer bridge financing and are willing to take senior positions in the capital stack,
including preferred equity,” said Jenny Zhan, CEO of Beyond Global.
In the EB-5 space, Beyond Global typically raises capital through single-asset funds
managed by a New Commercial Enterprise (NCE), each raising up to $100m to fund real
estate construction projects or renovations. The firm takes the role of the general
partner of the NCE.

Each NCE raises capital from EB-5 investors seeking US permanent residency by
investing in job-creating projects. The capital is then deployed into a Job Creating Entity
(JCE) that undertakes the development, fulfilling the EB-5 requirement of creating at least
ten full-time jobs per investor.

Zhan sees significant opportunities in the current commercial real estate market,
particularly in office buildings suffering due to changing market dynamics.

“Office buildings are suffering. And a lot of buildings require renovation and improvement
to meet modern standards and to attract tenants, or sometimes using conversion,
converting into different commercial real estate assets and those are all great
opportunities for EB-5 investment,” said Zhan.

By targeting these distressed assets, Beyond International aims to stimulate economic
growth and job creation, aligning with the goals of the EB-5 program.

“We could also see manufacturers and industrial projects utilizing this capital,” Zhan
added. “As long as the projects can create jobs, they can apply. Office building
renovations and conversions are particularly interesting opportunities right now.”

While the majority of Beyond Global’s EB-5 investors are from China, the firm is seeing
growing participation from Canada, Nigeria, South America, the Middle East and Eastern
Europe.

“Investors aim to obtain US residency and have their capital returned within three to five
years. While immigration is the first goal, we provide returns typically around 2% to 4%,
which is high in the EB-5 industry,” Zhan added.

The firm is also able to manage assets as needed.

“We provide bridge financing and are prepared to step in as necessary,” Zhan noted. “If
the owner faces challenges, we are willing to take ownership of the asset. Every lender
has to be prepared for that.”

According to Zhan, high interest rates coupled with a pullback in traditional financing
have increased demand for EB-5 capital as more real estate projects seek alternative
funding sources.

Looking ahead, Beyond Global expects to raise and deploy $200m to $300m in real
estate investments in 2025 through new EB-5 funds and other investment vehicles.

Zhan founded and leads all areas of business and operations for Beyond Global.
Previously, she was a portfolio manager and managing director at GMO.

Beyond currently manages $342m in real estate assets.