Peachtree Group Secures USCIS Approval for EB-5 Funding of The Scoundrel Hotel Project
Peachtree Group has announced that it has received I-956F approval from U.S. Citizenship and Immigration Services (USCIS) for its latest development, The Scoundrel, a Tribute Portfolio by Marriott hotel currently under construction in Gatlinburg, Tennessee. The approval represents a significant milestone for Peachtree’s EB-5 Immigrant Investor Program platform and reinforces the company’s strategic objective of creating investment opportunities that stimulate economic activity and long-term job growth in the United States.
A Key Step in Advancing Job-Creating Investments
The approval granted by USCIS is an important step in the EB-5 investment process. The EB-5 Immigrant Investor Program allows qualified foreign investors to earn permanent residency in the United States by investing in job-creating commercial enterprises. The I-956F approval specifically validates the business and job creation plan associated with the project, ensuring it meets eligibility criteria and is suitable for EB-5 funding.
Adam Greene, Executive Vice President of EB-5 at Peachtree Group, emphasized the significance of the approval for the company and its investors.
“Receiving USCIS approval for The Scoundrel represents another key milestone for our EB-5 platform,” said Greene. “It reflects our commitment to structuring investments that create meaningful economic impact, support job growth, and deliver lasting value for our investors and the communities we serve.”
Economic Impact and Job Creation
To verify the project’s contribution to employment, Peachtree commissioned an independent job study. The findings showed that The Scoundrel is projected to create approximately 842 eligible jobs, significantly exceeding the EB-5 program’s job creation threshold. This figure is 1.68 times the minimum number of required jobs, demonstrating the development’s substantial economic impact on the region.
Greg Friedman, Managing Principal and CEO of Peachtree Group, highlighted the broader strategy behind the firm’s involvement with EB-5.
“Peachtree’s participation in the EB-5 program underscores our entrepreneurial grit and commitment to advancing initiatives that create a flywheel effect across our lending platform,” Friedman stated. “We’ve helped institutionalize these investments within a program that drives economic growth and expands opportunities for meaningful, job-creating immigration.”
Project Overview: The Scoundrel Hotel
Peachtree has originated $40 million in floating-rate construction financing over four years to support the development of The Scoundrel hotel. Upon completion, the hotel will offer 133 guest rooms and will be part of Marriott’s Tribute Portfolio, a collection of independent boutique hotels recognized for distinctive design and guest experience.
The location of the hotel strategically positions it for success. The Scoundrel is being built along one of Gatlinburg’s most frequented commercial corridors, situated next to the Gatlinburg Convention Center and close to popular dining, shopping, and entertainment venues. Additionally, the property sits near the entrance to the Great Smoky Mountains National Park, the most visited national park in the United States, with millions of visitors annually.
The hotel is projected to open by mid-2027, offering new lodging capacity in a market noted for strong tourism demand and limited new construction activity.
A Track Record of EB-5 Project Approvals
The Scoundrel is the fourth hotel development for which Peachtree has secured I-956F approval. Previous EB-5-approved hospitality projects include:
- SpringHill Suites by Marriott in Bryce Canyon, Utah
- Home2 Suites by Hilton in Boone, North Carolina
- TownePlace Suites by Marriott in Palmdale, California
Peachtree has also earned I-956F approval for an EB-5-funded loan supporting the construction of a multi-family residential community in Bradenton, Florida.
Adam Greene noted that the Gatlinburg region presents a particularly attractive investment environment due to limited available land and regulatory restrictions on new development.
“With its proximity to the Great Smoky Mountains National Park, Gatlinburg is one of the most supply-constrained markets in the country,” Greene explained. “High barriers to entry and sustained demand from millions of annual visitors position well-located, newly built hotels to significantly outperform the broader market.”
Peachtree’s Growing EB-5 Platform
Peachtree launched its EB-5 program in 2023 to support projects that drive employment and economic expansion. Through this platform, the firm connects international investors with real estate opportunities that not only meet immigration criteria but also demonstrate strong financial fundamentals.
The EB-5 program requires a minimum investment of $800,000 into a qualified U.S. commercial project that creates or preserves at least 10 full-time jobs for American workers. Successful investors are eligible to apply for U.S. permanent residency, making the program a vital channel for attracting global capital to domestic development.
About Peachtree Group
Peachtree Group is a vertically integrated investment management firm focused on uncovering value in evolving and dislocated real estate markets. The firm manages billions in capital across hospitality acquisitions, property development, and real estate lending. In addition to its investment platform, Peachtree offers operational and asset management services that support and strengthen its portfolio.
The company’s deep industry expertise and active investment approach position it to capitalize on market cycles and deliver long-term value to both investors and local communities.
