---
title: Why $15.1 million, $92 million, $200 million, and $400 million are
  different EB-5 figures
description: Form D amount sold, an outstanding balance, a maximum principal,
  and a future-advance ceiling are not interchangeable.
url: https://lakefrontokeechobee.com/news/eb5-figures-are-different-metrics/
author: Lakefront Okeechobee Report
published: 2026-10-07
source_ids:
  - sec-form-d-fund-i
  - sec-form-d-fund-ii
  - cdd-os-2025-12-11
  - mortgage-2025-12-31
  - eb5-united-status
  - primary-capital
---

# Why $15.1 million, $92 million, $200 million, and $400 million are different EB-5 figures

Four numbers show up in Lakefront EB-5 discussions because they measure different things on different dates.

The October 24, 2023 Form D for EB5 United Okeechobee LLC reports $10.45 million sold, against a $100 million offering size. The August 26, 2025 Form D for EB5 United Okeechobee II LLC reports $4,650,100 sold, against another $100 million offering size. Adding those two snapshots produces $15,100,100. That sum is derived from two filings. It is not the final amount raised, and an earlier approximate $55 million "raised" note has been withdrawn because those filings do not support it.

The December 11, 2025 offering document reports about $92 million outstanding on November 26, 2025 to the two EB-5 lenders collectively. Outstanding principal is not amount sold.

The December 31, 2025 recorded mortgage identifies a $58,175,000 EB-5 note being consolidated with a $19,461,366.93 construction balance, and it sets a new maximum principal of $200 million. The $92 million figure and the $58.175 million figure measure different things on different dates, so both stay on the page. The same instrument contains a future-advance ceiling of up to $400 million. That ceiling is not money lent.

A September 2026 sponsor page described the raise as fully subscribed and did not state an exact dollar total. A sponsor's status line is a company statement, not an audited subscription ledger.

Primary Capital pages that list the offerings as closed, each with a $100 million target, are also company statements. Closed and target are not disbursements to the developer.

## Sources

- SEC Form D, EB5 United Okeechobee LLC (2023-10-24; sec-filing).  https://www.sec.gov/Archives/edgar/data/1997576/000199757623000001/xslFormDX01/primary_doc.xml
- SEC Form D, EB5 United Okeechobee II LLC (2025-08-26; sec-filing).  https://www.sec.gov/Archives/edgar/data/2076158/000207615825000001/xslFormDX08/primary_doc.xml
- Lakefront Estates CDD Limited Offering Memorandum / Official Statement (2025-12-11; official-offering-document).  https://lakefrontokeechobee.com/sources/#cdd-os-2025-12-11
- Second Amended and Restated Construction Mortgage, recorded January 6, 2026 (2025-12-31; public-record). Instrument 202622000044, Official Records Book 422, Page 247 https://www.myfloridacounty.com/orisearch/22
- EB5 United projects status page (2026-09-01; company-statement).  https://www.eb5united.com/projects/
- Primary Capital closed transactions (2026-04-01; company-statement).  https://www.primaryllc.com/closed-transactions

Independent, unofficial reporting. https://lakefrontokeechobee.com/about/