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Peachtree secures EB-5 funding for Utah SpringHill Suites

This is the company's third hotel to receive I-956F approval

Peachtree Group EB-5 approval - SpringHill Suites Bryce Canyon

Peachtree Group received I-956F approval from U.S. Citizenship and Immigration Services for the under-construction SpringHill Suites by Marriott in Bryce Canyon, Utah, advancing its efforts to facilitate EB-5 investment.

Vishnu Rageev R.
By Vishnu Rageev R.Apr 27, 2025
Vishnu Rageev R.

Vishnu Rageev R is a journalist with more than 15 years of experience in business journalism. Before joining Asian Media Group in 2022, he worked with BW Businessworld, IMAGES Group, exchange4media Group, DC Books, and Dhanam Publications in India. His coverage includes industry analysis, market trends and corporate developments, focusing on retail, real estate and hospitality. As a senior journalist with Asian Hospitality, he covers the U.S. hospitality industry. He is from Kerala, a state in South India.

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Peachtree Wins EB-5 Approval for Bryce Canyon Hotel in 2025

PEACHTREE GROUP RECEIVED I-956F approval from U.S. Citizenship and Immigration Services, the agency that oversees the EB-5 Immigrant Investor Program, for the under-construction SpringHill Suites by Marriott in Bryce Canyon, Utah. The I-956F approval marks a key step in Peachtree’s efforts to facilitate EB-5 investment, aimed at promoting U.S. economic growth and job creation.

This is the company’s third hotel development to receive I-956F approval, following approvals for the Home2 Suites by Hilton in Boone, North Carolina, and the TownePlace Suites by Marriott in Palmdale, California, Peachtree said in a statement.

“Securing USCIS approval for this project marks an important milestone,” said Adam Greene, Peachtree’s executive vice president, EB-5. “It underscores our ongoing focus on structuring and originating capital for high-quality developments that drive economic impact and long-term value for investors and communities.”

Atlanta-based Peachtree is led by CEO and Managing Principal Greg Friedman, Managing Principal and CFO Jatin Desai, and Principal Mitul Patel.

Peachtree originated $16.95 million in floating-rate construction financing over a three-year term for the 127-room SpringHill Suites near Bryce Canyon National Park, which draws more than 2 million visitors annually for its unique geological formations, the statement said. The hotel is slated for completion by mid-2025.

“With strong travel demand, limited new supply, and favorable market tailwinds, well-located new developments are positioned to outperform their competitive set,” said Greene. “Construction is underway, reducing project risk, and the firm has retained an equity stake aligned with our EB-5 investors—reinforcing our commitment and tying our success to theirs.”

Peachtree launched its EB-5 program in 2023 as a key financing tool for job-creating projects nationwide. The firm remains committed to offering high-quality investment and development opportunities through its growing EB-5 portfolio.

The EB-5 visa program allows foreign investors to apply for a green card by investing in a new U.S. commercial enterprise that creates jobs. A minimum investment of $800,000 in a project that generates or preserves at least 10 full-time U.S. jobs qualifies investors for permanent residency.

Peachtree recently opened the 87-suite TownePlace Suites Forney in Forney, Texas.

greg friedmanjatin desaimarriott internationalpeachtree groupspringhill suitesadam greeneu.s. citizenship and immigration servicesmitul pateleb-5 immigrant investor programbryce canyon national parkhotel developmentu.s. hotel industryeb-5springhill suites bryce canyoneb-5 visa program 2025u.s. hotel development eb-5adam greene peachtree eb-5bryce canyon hotel financinggreg friedman peachtree ceouscis i-956f approvalhospitality investment trendstowneplace suites forneypeachtree group eb-5 approval

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