On the heels of the recent news that our Sora West Office EB-5 Project received Form I-924 exemplar approval on September 3rd, CanAm is very pleased to announce that USCIS approved the first investor I-526 Petition less than three weeks later on September 21st, 2020.
The $39.5 million EB-5 loan is being utilized for the construction of a new office tower at SORA West, a large-scale multi-faceted development in the center of Conshohocken, PA, just outside of Philadelphia. 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. AmerisourceBergen will begin a phased takeover of the space beginning in January and the project will be fully complete in mid-2021. Given its position in the medical supply industry, AmerisourceBergen has performed well economically during the current environment brought about by the COVID-19 virus.
“The keys to an I-526 Petition approval are well-documented legal source and path of investment funds, and a qualifying investment project that complies with EB-5 laws and regulations,” commented Walter Gindin, Esq., Director of Legal Affairs at CanAm Enterprises. “The I-526 Petition approval further validates the EB-5 project’s feasibility and anticipated satisfaction of the job creation requirement by USCIS. We look forward to more I-526 Petition approvals to come.”
To date, over 4,800 investor-families have received I-526 approvals through investing in one of CanAm’s 60 EB-5 projects. Prospective investors pursuing permanent residency in the United States are invited to read CanAm’s EB-5 Program Overview and inquire about the EB-5 Visa options.