TIMSON Immigration
Downtown Los Angeles Marriott  - Introduction   (New)
The Project is expected to be approximately 37-stories tall, and is expected to consist of the following: (a) a 727-room hotel consisting of a 380-room Moxy branded hotel and a 347-room AC branded hotel; and (b) approximately 68,000 square feet of public space, including approximately 53,000 square feet of food and beverage space,approximately 11,700 square feet of event space, and approximately 3,000 square feet of flexible public space.(the “Project”). A parking garage in a 6-story podium building will have three 50 foot tall LED outdoor advertising signs. 
 The project was developed over a period of 37 months from 2019 to 2022 and   commenced operations in the first quarter of 2023.
                                                            PROJECT LOCATION & ADVANTAGE
The proposed project is located at 1248 South Figueroa Street, between West Pico Boulevard and South Flower Street, in the South Park community of Downtown Los Angeles, California.
The 1.22 acre site is directly across
the street from the Crypto.com Arena and Los Angeles Convention Center. 
                                                                                PROJECT TEAM
Lightstone Chairman,
David Lichtenstein
Lightstone Founded in 1988, Lightstone is one of the most highly regarded and diversified real estatecompanies in the United States.
The senior members of Lightstone’s development team have been directly responsible for thedevelopment and construction of more than 270,000 square meters of residential projects in New York City.
Founder David Lichtenstein has grown lightstone into one of the largest real estate companies in the USA with over $2.6billion in assets.
Moody’s and Standard & Poor’s are the leading firms responsible for evaluating the financial strength of companies. They are independent and perform extensive research.
Regional Center
EB5 Affiliate Network State of California Regional Center, LLC
Manager Company
DTLA Fund 8 Manager LLC
Eb-5 Company
Project Company
Lightstone DTLA LLC
Figueroa Street Holdings LLC
I-924 approval
Application was submitted.
The Lightstone Group LLC is a diversified private real estate company and one of the largest privately held real estate companies in the United States. Lightstone operates in numerous real estate market sectors, and currently has a portfolio of approximately $3 billion worth of investments, which includes, but is not limited to, an aggregate of approximately 6 million square feet of office, retail, industrial and commercial properties, approximately 15,000 residential units, approximately 4,000 hotel rooms, and approximately 12,000 land lots across the United States. Lightstone is headquartered in New York, New York, and in addition to the investments discussed above, is currently developing approximately $3 billion worth of real estate investments throughout the United States, primarily in the residential and hospitality sectors.
Project Descriptions
The Project is expected to be known as the Marriott Downtown L.A., and is expected to consist of the following: (a) an approximately 384-room Moxy branded hotel; (b) an approximately 360-room AC branded hotel; (c) approximately 11,017 square feet of retail space; and (d) an approximately 353-car garage.
The Project is expected to be located at 1248 South Figueroa Street, Los Angeles, California and 601 West Pico Boulevard, Los Angeles, California. The Project is situated directly across the street from the main entrance to the Los Angeles Convention Center and nearby to the Staples Center. The Project is bounded by major thoroughfares such as S. Figueroa Street and West Pico Boulevard.
The Project is expected to be approximately 38-stories tall, with approximately 31-stories consisting of hotel rooms atop a 7-story podium. The podium is expected to include restaurant space, outdoor space, retail space, hotel lobbies, and the parking garage. The Project is anticipated to include a significant signage component. The signage is expected to wrap around a portion of the podium, and is expected to include three 50-foot tall signs, two of which are expected to be electronic, comprising approximately 15,500 total square feet of advertising signage. The restaurant is expected to be approximately 7,100 square feet. The outdoor space is expected to include a patio and pool comprising approximately 20,000 square feet.
The Developer anticipates beginning construction in June 2019. Construction is anticipated to be completed by September 2021, and the Project’s launch is expected October 2021.
Guarantee of Funds
Personal guaranty from CEO of Lightstone for return of funds in the event of denial of I-526 application.
Project total costs
US$  542,000,000
Marriott Investment
( Mezzanine Loan)
US$   62,500,000                                                                         <11.5%>
Lightstone Capital
US$   19,641,400                                                                         <4.3%>
Senior Loan
(Project Company)
US$  212,000,000                                                                        <47.04%>
Preferred Investment
(Mezz Holding Company)
US$   40,000,000                                                                         <8.8%>
EB-5 Loan
US$  100,000,000                                                                        <18.5%>
( May choose the option to increase to US$ 200,000,000 )
EB-5 Investment per Unit
US$     800,000
Collectively known as Subscription Proceeds (US$ 880,000)
Issue Fee
US$      80,000
Investment Return
0.25% per annum (estimated)
Term of EB-5 Loan
5 years (EB-5 Initial Maturity Date December 2023)
(with 2 one-year-extensions)
Number of Investors
155 with the option to increase to 444
Job Requirements
Estimate Job Creation
6057  <8457 in total>
Release of Escrowed Funds to the Limited Partnership
80% of the funds will be released upon submission of  I-924 and I-526 petition with USCIS and receipt of I-797 Notice from USCIS;
20% of the funds will be released upon approval of I-526 petition with USCIS.
In case of I-526 Petition Denial
  1. Full refund of $800,000 contributed by such Limited Partner;
  2. Issue fee of $80,000 will be fully refunded (except the I-526 Petition Denial is due to personal reason or withdrawal of the applicant).
Source of Fund for Loan Repayment
Refinance or Sale of the Hotel.
Completion Guaranty
Personal guarantee from the CEO of Lightstone enterprise, David Lichtenstein.
Construction Completion Date
The building will be completed in September 2021
Note: This document is for reference only, all terms are subject to written contract.