NEW YORK, NY – CanAm Enterprises is pleased to announce that its private equity affiliate, CanAm Capital Partners (CACP), has closed on its latest real estate investment – $3 million from redeployed investor capital that has been successfully invested into Pacific Point Apartments in Fort Lauderdale, Florida to fund the repositioning of a 420-unit apartment community by the Frankforter Group.
CanAm Enterprises is a leading full-service financial firm sponsoring EB-5 immigration-linked investment funds. The $3 million in capital was originally part of a $350 million EB-5 loan provided for the construction of the Brightline high-speed rail line in South Florida. The redeployed capital will remain invested in the Pacific Point project to meet program requirements for EB-5 investors impacted by immigration backlogs.
“We are pleased to close on this investment in partnership with the Frankforter Group which has successfully executed this value-add strategy in the past, and we expect to realize solid risk-adjusted returns for our investors.” says John Reid, Director at CACP. “This closing marks $103 million in closed investments of our $220 million redeployment mandate within the state of Florida. We are in discussions with several other sponsors in Florida for the remaining $117 million of capital available within this pool and expect to fully deploy in the coming months”
Florida is one of the fastest-growing states by population in the country, and Pacific Point Luxury Apartments is a Class A property that combines both luxury and location. The property is conveniently located in Broward County between Florida’s Turnpike and I-95, in close proximity to both downtown Ft. Lauderdale and the Pompano Beach business district. The property offers high-end contemporary units along with amenities that include a resort-style pool with spa, fully-equipped fitness center and a 36-seat, high-definition movie theater.
About CanAm Capital Partners (CACP)
CACP’s investment strategy focuses on geographies and assets where CanAm has informational, operational, and other competitive advantages. In addition to its latest real estate investment, CACP and its affiliates have invested capital in two multi-family development properties in Texas, a hotel expansion in the heart of Philadelphia, a Class-A rental development in the center of Philadelphia and the repositioning of creative office space in Atlanta – all of which have combined asset values exceeding $335 million as of December 2020.
