NEW YORK CITY—While EB5 isn’t a new program, it has only caught on in recent years, leading some developers who use it—as well as advisor and lender participants to carry one prevailing suggestion to potential users of the program: use caution.

That was a key message at a presentation Thursday night in Midtown entitled, “EB-5 Visa Financing for Real Estate Development in New York City.” Hosted by the Mortgage Bankers Association of New York and the law firm of Greenberg Traurig, the event included a panel discussion among Jeffrey Grasso, director of investor relations, Silverstein Properties Regional Center; Sam Giarrusso, senior EVP, BankUnited and attorney Kate Kalmykov of Greenberg Traurig.

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