私募配售备忘录中英文.docx

1、私募配售备忘录中英文CONFIDENTIALPRIVATE PLACEMENT MEMORANDUMPATH TOWER SEATTLE, LP(a Washington limited partnership)机密 私募配售备忘录PATH TOWER SEATTLE, LP（一家华盛顿州有限合伙企业）August 8, 2014 2014年8月8日Maximum Offering of 93 Units of Limited Partnership Interest, or US$46,500,000, at US$500,000 per Unit最多发售93份股份的有限合伙人权益或4650

2、万美元（每份股份50万美元）This Confidential Private Placement Memorandum (the “Memorandum”) describes the offering (the “Offering”) of units of limited partnership interest (defined below)(each a “Unit”) of Path Tower Seattle, LP, a Washington limited partnership (the “Company”).本机密私募配售备忘录 （简称 “备忘录”）对Path Tower

3、 Seattle，LP（一家华盛顿州有限 合伙企业）（简称 “公司”）的有限合伙人权益（参见下文中的定义）（ “股份”）股份发售（简称“发售”）作出了规定。The Company has been organized to finance, through a loan (the “Loan”) to Potala Tower Seattle, LLC, a Delaware limited liability company (the “Borrower”), the construction and development of certain real property, particu

4、larly the real property located at 2116 Fourth Avenue, Seattle, Washington (the “Property”). The Borrower will use proceeds from the Loan to acquire, construct, manage and operate a new mixed-use facility to include a Hotel Indigo (the “Hotel”), a full-service restaurant, retail space and wine bar,

5、residential apartment units, a variety of amenities for the hotel guests and residents, and underground parking (the “Project”). Subscribers will receive Units as described further below. The Project is discussed in greater detail below, and a comprehensive Business Plan is provided at Exhibit E.本公司

6、的组成是为了以向Potala Tower Seattle有限责任公司（一家特拉华州有限责任公司， 简称“借款人”）发放借款（简称“借款”）的形式，为特定房地产的建筑和开发提供资 金支持，特别是位于华盛顿州西雅图市第四大道2116号的房地产（简称 “房产”）。借款人将利用借款收入购买、建设、管理和运营一处新多用途设施，其中包括一家英迪格酒店（简称“酒店”）、一家提供全方位服务的餐厅、零售区和酒吧、住宅公寓单元、供酒店 客户和居民使用的各种便利设施、以及地下停车场（简称 “项目”）。认购人将收到相应股份，具体参见下文中的详细规定。以下将对项目做进一步详细说明，并且在附件 E中附 有一份综合性的商业

7、计划。Path America KingCo, LLC, a Washington limited liability company, is the General Partner of the Company (the “General Partner”) and owns and operates an approved regional center in the state of Washington, Path America KingCo, LLC (in this capacity, “Regional Center”), designated by the United St

8、ates Citizenship and Immigration Services (“USCIS”) pursuant to the EB-5 Program to establish and solicit investment from foreign investors in U.S. businesses for the purpose of creating U.S. jobs. The General Partner will be authorizing the Company to use its regional center designation under the E

9、B-5 Program to raise capital for the development of the Project. (USCIS Approval RCW1031910033). (NOTE: Any capitalized terms used in this memorandum but not defined herein shall have the meanings set forth in the companys Subscription Agreement or Limited Partnership Agreement (both terms defined b

10、elow), attached hereto as Exhibits A and B, respectively.)Path America KingCo, LLC是一家华盛顿州有限责任公司，其为公司的普通合伙人（简称“普 通合伙人”） ，其在华盛顿州拥有并运作一家经许可的区域中心（在这方面的能力，简称 为 “区域中心”），Path America KingCo, LLC是经美国公民与移民服务局（“USCIS”） 认定的，其符合从美国经商的国外投资人手中设立和募集投资的EB-5计划，以实现在美国 创造就业机会的目的。普通合伙人将授权公司使用EB-5计划下的区域中心名称，以募集项 目开发所需的资

11、金（USCIS 许可号RCW1031910033）。（注意: 本备忘录中使用的任何字 母大写的条款（但未在此处作出限定）的定义参见公司认购协议或有限责任合伙协议 （两 个术语都将在以下作出限定）中的规定，并附在本材料后，分别为附件 A和附件B。）An investment in Units involves substantial risks including, but not limited to, the following:投资该股份存在重大风险，包括但不限于以下方面: The Companys success, and its ability to make distribution

12、s to its Limited Partners, is wholly dependent upon the Borrowers successful implementation of the Business Plan and repayment of the Loan and there is no assurance the Borrower will be successful in its business ventures.公司的成功与否以及其向有限合伙人分配收益的能力完全取决于借款人商业计划是 否能够成功运作以及借款能否偿还，不能保证借款人在其商业风险投资中一定能成功。 Su

13、bject to negotiations between the Borrower and its other financing sources, we anticipate that the Loan will be secured by a deed of trust and a right to assume Borrowers position and interest until the Loan is repaid as set forth in the Form of Loan Agreement, but such deed of trust or right of con

14、trol will be subordinated to Senior Indebtedness from one ormore bank loans. Accordingly, the Companys ability to exercise rights in the event of default may be severely limited and may not result in repayment of the Loan. 根据借款人和其他融资发起人间的协商，公司预计借款将通过信托契据，以及借款协议规定的在借款偿还之前，有权接收借款人的职位和权益进行担保，但是该信托 契据或控

15、制权利将从属于一份或多份银行借款的高级债务。相应地，公司在违约事件中行使权利的能力就可能会受到严格限制，并且可能不能还款。 The Project will be financed in part by a separate EB-5 offering by an affiliated entity, Path America Tower, LP, a Washington limited partnership (“Phase I”). Phase I might not be fully subscribed before Subscribers are accepted in this

16、Offering. There is no guarantee that Path America Tower, LP will be successful in its marketing efforts or that Phase I will be fully subscribed.该项目的部分融资由一家关联实体 Path America Tower, LP，一家华盛顿州有限合伙 企业， 进行的单独 EB-5 发售提供（“第一阶段”）。在本发售接受认购人之前， 第一阶段可能未完成全部认购。没有保证 Path America Tower, LP 将成功进行市场营 销，或者第一阶段将全部被认

17、购。 Jobs will be allocated to Phase I subscribers as well as Subscribers in this Offering on a first-come-first-served basis. The Project may not create sufficient jobs to satisfy the EB-5 requirements for all investors in both offerings. Phase I has already begun accepting subscriptions, so Subscrib

18、ers to this Offering - subscribing after these investors - are at a greater risk of being unable to satisfy EB-5 job creation requirements. If a Subscriber cannot demonstrate that he or she has created or reasonably will create the requisite 10 full time positions, his or her I-829 Petition to Remov

19、e Conditions on permanent residence will be denied.创造就业将在第一阶段认购人以及本发售认购人之间按照先到先得的顺序进行分 配。该项目可能不能创造足够的就业岗位满足两次发售中所有投资人的 EB-5 需求。 第一阶段已经开始接受认购，因此本发售认购人在该等投资人之后进行认购存在更 大风险不能满足 EB-5 就业创造需求。如果认购人不能证明其已创造或将合理创造 所需的 10 个全职岗位，其移除永久居留权条件的 I-829 申请将被拒绝。 Subscribers capital can be released from escrow and used

20、 in the Project prior to full subscription of all EB-5 funds needed to complete the Project. Although the receipt of an executed letter of intent from a financial institution for project financing is a condition on release of any portion of capital contributions from escrow for Phase I, such letter

21、of intent may not be honored by the financial institution and/or alternative financing (to supplement any shortfall in subscriptions in the Offering or Phase I) may not be available. The Company may be unable to raise the full amount of EB-5 capital needed to be combined with Phase I to complete the

22、 Project. Failure to complete the Project could result in loss of some or all of a Subscribers investment. 在完成项目所需全部EB-5资金的整个认购之前，认购人的资本可能会从监管账户释放并用于项目。虽然收到金融机构就项目融资签署的意向书是第一阶段从监管账户释放任何资本投入的一项条件，但金融机构可能不会发出该意向书，及/或替代融资（补充本发售或第一阶段认购的资金短缺）可能不会获得。本公司可能不能筹集和 第一阶段一起完成该项目所需的全部EB-5资金。项目不能完成可能导致认购人损失其部分或全部投

23、资。 Portions of Subscribers Capital Contributions will be released from escrow prior to I-526 petition adjudication and used in the Project. If a Subscribers I-526 petition is denied, a full refund may not be available for any funds released from escrow.在 I-526 获批之前，认购人的部分资本投入将从监管账户释放用于项目。如果认购 人的 I-5

24、26 被拒，已从监管账户释放的款项可能不会被全额退款。 There is no assurance that investors or their family members will obtain or retain permanent resident status under the EB-5 Program (8 U.S.C. 1153 (b)(5)(A) - (D); 203(b)(5)(A) - (D) of the Immigration & Nationality Act (the “Act”), and failure to obtain or retain immigra

25、tion benefits will not entitle investors to a refund of their investment.无法确保投资人或其家庭成员将根据 EB-5 计划（美国法典 8 1153（b）（5）（A）- （D）；美国移民归化法（简称 “法案”） 203（b）（5）（A） - （D） 获得或保留永久性居民身份，未能获得或保留移民权益的，不会使投资人因此获得退款的权利。 The Units will be highly illiquid; transferability of the Units is restricted, and the sale of Un

26、its prior to the sale or liquidation of the Project is prohibited. According to USCIS policy, funds must be irrevocably at risk at the time the I-526 petition is filed, and capital may be refunded only in the event of denial of an investors I-526 petition, therefore, no voluntary withdrawals will be

27、 allowed.股份具有高度的非流动性； 禁止对股份进行转让，并且禁止在项目销售或清算前对 股份进行销售。根据美国公民与移民服务局 （USCIS ）的政策，在提交 I-526 申请 后，资金即存在无法撤回的风险，只有在投资人的 I-526 申请被拒绝的情况下，才 可能将资金退回，因此，不允许主动撤回投资 。 The Administrative Fee is nonrefundable. Once an I-526 petition is filed, the General Partner will use the funds to pay for offering expenses an

28、d fees owed to marketing agents. Neither the Company nor the General Partner will have responsibility to return any portion of this fee for any reason.管理费是不能撤回的。一旦提交 I-526 申请后，普通合伙人将使用该资金支付营销代理的发售开支和费用。不管出于何种原因，本公司或普通合伙人都不承担退返费 该用任何部分的义务。 An investor could lose all or a substantial portion of his or

29、 her investment in the Company.投资人可能会丧失他或她在公司的投资的全部或重大部分。 The Company will not be diversified in its investments, and anticipates concentrating solely on the Project, as described below. 公司不会进行多元化投资，并预期重点投资于以下列明的项目 。 Investors in the Company will be subject to U.S. taxation and various tax risks.公司的

30、投资人应承担美国税收以及各种税收风险。 The Company, the General Partner, the Borrower, and other affiliates share common ownership by the same principals and will be subject to conflicts of interest as set forth below.公司、普通合伙人、借款人和其他附属机构归同一主体所有，并将受到以下规定的 利益冲突的限制。These and other risks are described more fully under the

31、 heading “Risk Factors” below.此处的和其他方面的风险参见下列以“风险因素”为标题的规定。NO PARTY, EXCEPT THE COMPANY, IS RESPONSIBLE FOR THE CONTENTS OF THE OFFERING MEMORANDUM, AND NO OTHER PARTY EXCEPT AUTHORIZED SALES AGENTS WILL BE INVOLVED IN THE OFFERING OF LIMITED PARTNERSHIP UNITS UNDER THE OFFERING MEMORANDUM OR THE AC

32、CEPTANCE OF SUBSCRIPTIONS FROM SUBSCRIBERS.除公司外，任何人都不对该发售备忘录的内容承担责任，并且除经授权的经销商外，任何 人不得涉入“发售备忘录”项下有限合伙股份的发售或认购人接受认购的事宜。The Units have not been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or any applicable U.S. state securities laws. These Units are being offered and sold pursuant to and in reliance upon exemptions from the registration requirements provided by the Securities Act and Regulation S promulgated thereunder and similar exem