CanAm has closed another EB-5 project in Pennsylvania. The office tower at SORA West will serve as the new global headquarters of AmerisourceBergen when completed in Q2 2021.
CanAm Enterprises (“CanAm”) is excited to announce that it has closed a $39.5 million EB-5 investment to help finance the construction of a new office tower at SORA West, a large-scale multi-faceted development in the center of Conshohocken, PA. The office tower will be fully leased to AmerisourceBergen (NYSE: ABC), the global pharmaceutical and healthcare products distribution company and serve as the global headquarters for the Fortune 10 company.
“We are proud to co-finance yet another remarkable office facility in Pennsylvania which will bring many new jobs, both through AmerisourceBergen’s operation and through local businesses that will benefit from the forthcoming opportunities,” said Tom Rosenfeld, President and CEO of CanAm Enterprises.
The 11-story, approximately 430,000 square foot office tower is being developed by Keystone Property Group, a leading real estate investor and developer headquartered in Conshohocken, PA. The office tower is the first phase of SORA West, which will also include a world-class hotel facility with significant restaurant space and a rooftop lounge to accommodate visitors and partners traveling for business.
The EB-5 Immigrant Investor Program (EB-5 Program) is administered by the United States Citizenship and Immigration Services (USCIS). The EB-5 Program provides qualified foreign investors with the opportunity to earn a conditional, or temporary, two-year green card in return for investing $500,000 (or $900,000 after November 21, 2019) in projects located in high unemployment areas that create at least ten permanent full-time jobs for U.S. workers.
With three decades of experience promoting immigration-linked investments in the United States and Canada, CanAm has a long and established track record. Basing its business on a reputation of credibility and trust, CanAm has financed 60 projects and raised nearly $2.9 billion in EB-5 investments. More than $1.3 billion in EB-5 capital from over 2,600 families has been repaid by CanAm’s 40 projects to date. CanAm exclusively operates seven USCIS-designated regional centers that are located in the city of Philadelphia, the Commonwealth of Pennsylvania, the metropolitan regions of New York & New Jersey, the states of California, Hawaii, Florida, and Texas. For more information, please visit www.canamenterprises.com.