EB5 Investors Magazine Volume 5, Issue 2 - Page 79

TOP CORPORATE ATTORNEYS and technology. For more than 20 years, Tishler has helped clients in designing and executing successful investment programs. He represents developers, regional centers and other intermediaries for their participation in the EB-5 program. Tishler is a leading EB-5 securities and project finance attorney, frequent writer and speaker and the co-editor and co-author of The EB-5 Handbook: A Guide for Investors and Developers (2014). He is a graduate of Cornell University and Yale Law School. JOHN TISHLER Partner Sheppard Mullin J ohn Tishler practices corporate and securities law as a partner at Sheppard Mullin, a global law firm. He is team leader of the EB-5 Project Finance Team and has served from time to time as leader of the Public Companies and Capital Markets Group. Tishler’s practice includes domestic and international capital markets, corporate finance, corporate governance, business transactions, mergers and acquisitions WHAT TRENDS ARE YOU SEEING IN THE EB-5 INDUSTRY? The flight to quality predicted for many years has arrived. Migration agents are increasingly sophisticated about project selection and credit quality. We also see more deals structured as preferred equity, which is often more flexible in the capital stack than mezzanine debt. Factors including retrogression effects also have made it difficult to raise EB-5 funds for projects depending on such funds to complete construction. We see the majority of deal volume for taking out bridge financing as USCIS guidance permits. Many projects require offerings, including those involving hotel development, residential construction, senior independent living complexes, healthcare and medical device companies, restaurants and franchises. Torres frequently speaks at EB-5 conferences [\\ۈRUTx&\\Y[8&\Y\ܞB[[[\X[KXXXB[Y]ܚX[[Z]Y\ˈH\[›ۈHY\[[Z]YH܈HPMB[\Y[[][ۈ[HY[X\وBPMHP[XKܜ\XZ]Y\’ HH[]\]Hو[[[XB] ՐSԔT”[\[ܜ\] Kœݘ[ܜ\\H[\[]ܜ\“] K\[\\Y\ܜ\\™\Yۈ\^ܜܘ]H[X[ۜ[Y[X\]Y\ٙ\[[Y\\[X]Z\][ۜˈ܈H\^YX\ܜ\\˜Y[[[Y\Y[PMHܚX\ٝ[B\\[[Y[ۘ[[\[ڙX]ܜܘ]HX\[[X\]Y\ٙ\[›X]\ˈܜ\\ܚYۈ\\PMBUSHS•HUTHшHPMBSTHRO‘][H[ܙX\[\HX܂XZ[[[\H[\ܜ[BZ[Z]Y]\H[\ܜ[ۈ[Hݙ\XܚXY BPMH[\H[]H^[]›X\]YZ[\ܜ[Y[’[XKHZYHX\[][[Y\XKH^X]HY\[\و[\ܜš[HX\][[[X][H]HBX\Hو]\HPMHڙXˈH[Y]B]HPMH[\H[[Y]\X\[[[[ܙX\[\و\]\\H\X]Y]PMB[[[ˈX\[\[\[ٝ[H]YY]\Y[X\[[[[[\\][ۋTHSHSSBTQHшQTSQS‘H\\ڙX \\H\˜[^\[YYY\[[[™܈Y[ˈ[[Y[[KHTTœY\[\]Z\[Y[YH[\ܜ&H\Z[Y[\[š[ܙX\\PMH\][8&\[YHB\\و]\][ Y\[\˜HXZ܈ۜY\][ۈ܈][\¸$]]]Z[XHY\[[›\ڙX X[H][\[\ۈPMKو\KY\[\[\8$X\^XHB[ \TT\]Z\\Y\YY[H8']\'KZYܘ][ۈY[˜\HYX][Y\[\\وڙX[\ܚ][[\[K˂ڙX[[H[[ Y\[\]Z\\[[[H[\\ق[\ܜ[\YYX\Y\[][\š[HXHوY[]ܞH[\Z[KH\ \\H[YZ[\][ۂ\]Z\[Y[܈Y[X]YX[™[\H][\ܜ\H]\XY[YوHۙXو[\\YHXX[˂USTHSHQRS’SHPMHSTO•][^HXXKH]HY[[Y[[[ܙX\[\وPMHڙX]X\][\]Y][[Y\X[[\ܜˈH]H[XY][ܙB[[ܙHڙX\HZ[X\Y\\]Z]H[\Y[]\[[˜]Y[H][Y\X[[\\B[H؈ܙX][[]K[[K]Y[\]Y[ۘ[[\[\ܛ[˜\HXZ[[ܙX\[H[Y[]Y][ڙX[[[ٝ[[\ۈZ[ݚYY][[\[\œ[[ٙ\[[[܈š\Z[YۙYY[ۘ[[\YܙY[Y[›܈\ܛYܙY[Y[˂PRSTԔːB