ATLANTA, Georgia—Peachtree Group announced that it has received its I-956F approval from U.S. Citizenship and Immigration Services (USCIS), the government agency that oversees the EB-5 Immigrant Investor Program, for The Scoundrel, a Tribute Portfolio by Marriott hotel currently under construction in Gatlinburg, Tennessee.
“Receiving USCIS approval for The Scoundrel represents another key milestone for our EB-5 platform,” said Adam Greene, executive vice president of EB-5 at Peachtree. “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.”
“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,” said Greg Friedman, managing principal and CEO of Peachtree. “We’ve helped institutionalize these investments within a program that drives economic growth and expands opportunities for meaningful, job-creating immigration.”
Peachtree originated $40 million in floating-rate construction financing over a four-year term for the development of The Scoundrel. The 133-room hotel will be situated on one of Gatlinburg’s main commercial corridors, adjacent to the Gatlinburg Convention Center and steps from dining, shopping, and entertainment. Located on the northwestern edge of the Great Smoky Mountains National Park, the property offers access to a region that attracts millions of visitors each year.
The hotel is expected to be completed by mid-2027.
This is the fourth hotel development for which Peachtree has received I-956F approval, having previously secured it for its SpringHill Suites by Marriott in Bryce Canyon, Utah; Home2 Suites by Hilton in Boone, North Carolina; and TownePlace Suites by Marriott in Palmdale, California Peachtree also received I-956F approval for its loan for the construction of a multi-family apartment project in Bradenton, Florida.
“With its proximity to the Great Smoky Mountains National Park, Gatlinburg is one of the most supply-constrained markets in the country,” said Greene. “High barriers to entry, including strict height and density limits and scarce developable land, make new construction rare. That dynamic, combined with sustained demand from millions of annual visitors, positions well-located, newly built hotels to significantly outperform the broader market.”
