BDV Solutions

BDV's revenue comes from the developer side of each transaction — the borrowing entity pays origination fees, interest rate spreads, or structuring fees on the mezzanine loan. The firm's disclosed model eliminates administrative and finder's fees on the investor side, meaning the full $800,000 EB-5 minimum investment (or $1,050,000 in Targeted Employment Areas under post-2022 rules) passes entirely into the project. This aligns BDV's incentives with placing capital efficiently rather than maximizing fee capture per investor.

The 2022 Act raised the minimum EB-5 investment, introduced new compliance requirements for regional centers, and imposed integrity measures on the entire EB-5 industry. BDV operates as a registered regional center or partners with designated regional centers to sponsor projects, which means the firm must comply with USCIS filing requirements, job-creation verification, and securities disclosure obligations under the updated statute. How the reform affected BDV's specific deal volume or investor pipeline has not been publicly disclosed.

BDV focuses on ground-up construction and value-add projects, typically providing mezzanine debt to fill the gap between senior construction loans and developer equity. Asset classes in its origination pipeline have included multifamily apartment developments, extended-stay and limited-service hotels, mixed-use commercial-residential complexes, and senior living facilities. Geographically, the firm concentrates on the US Southeast and Sun Belt, with disclosed activity in South Carolina, Florida, and Texas.

Co-founders Leo Linder and Thomas Stieger jointly oversee the firm, with Linder handling origination and developer relationships while Stieger manages investor relations and compliance (per the firm's structure as publicly described). Underwriting is conducted internally at the Greenville office, though the firm does not publicly name a separate credit committee or investment committee. All loans are structured as project-specific New Commercial Enterprises consistent with EB-5 program rules.

BDV does not operate as a fund manager and does not make fund commitments. Every investment is structured as a discrete, project-specific EB-5 loan where investors hold limited partnership interests in a single-purpose entity tied to one real estate project. This is a direct-deal model rather than a pooled fund, and investors choose specific projects rather than contributing to a blind pool.