CanAm reaches milestone with $2 billion in EB-5 refunds
“We believe that reaching the important milestone of $2 billion in EB-5 refunds not only reinforces our leadership position in the industry, but reaffirms our strong commitment to making decisions that first consider best interests of our clients.”
NEW YORK (WEB PR)
06 April 2022
CanAm Enterprises (“CanAm”) is pleased to announce that it has achieved a major industry milestone with the repayment of $2 billion in EB-5 capital. Collectively, proceeds from the EB-5 loans were invested in 46 different real estate and infrastructure projects on behalf of more than 4,000 investor families.
“For 35 years, CanAm has strived to build the best track record in the immigration investing industry. We know how important it is for an EB-5 investor to see their EB-5 investment paid off. We believe that reaching the important milestone of $2 billion in EB-5 refunds not only reinforces our leadership position in the industry, but reaffirms our strong commitment to making decisions that consider the best interests of our customers,” said Tom Rosenfeld, President and CEO. CEO of CanAm.
One of the cornerstones of CanAm’s success is investing in what we consider to be the best projects led by top developers. Two notable projects that have come full circle have been carried out by renowned development company Tishman Speyer.
- CanAm provided $153 million in EB-5 capital for a 1.2 million square foot mixed-use complex named Jacx in Long Island City, New York. The project is now 100% complete and fully stabilized with office space 98% leased in May 2021.
- CanAm provided $75 million in EB-5 capital for the repositioning and redevelopment of an existing Macy’s building into a Class A office building. The Wheeler is located in downtown Brooklyn, New York. The anchor tenant, St. Joseph’s School, will occupy the lower 5 floors of the building and construction of their space is currently underway.
“While the COVID-19 pandemic has disrupted many real estate projects in New York, Tishman Speyer has been able to draw on his deep experience and industry connections to not only bring projects to fruition, but also generate a strong rental activity and tenant commitments,” added Rosenfeld. “These two projects are both excellent examples of the caliber of projects we aim to bring to our community of EB-5 investors.”
About the EB-5 program
The EB-5 Immigrant Investor program is administered by United States Citizenship and Immigration Services (USCIS). The program offers qualified foreign investors the opportunity to obtain “conditional” or temporary two-year visas in exchange for investing $800,000 in companies located in targeted employment areas that create at least ten jobs at full time for American workers.
About CanAm Enterprises
With 35 years of experience in researching, underwriting and promoting immigration-related investments in the United States and Canada, CanAm has a long, established track record and a reputation for credibility and trust. CanAm has funded over 60 projects and raised over $3 billion in EB-5 capital. To date, more than $2 billion in EB-5 capital from more than 4,000 investor families has been repaid through CanAm-sponsored regional center partnerships. CanAm exclusively operates seven USCIS-designated regional centers located in the city of Philadelphia, the Commonwealth of Pennsylvania, the metropolitan areas of New York and New Jersey, and the states of California, Hawaii, Florida and Texas.
For more information, please visit http://www. canamenterprises.com.
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