NEW YORK, NY – CanAm Enterprises (CanAm) is pleased to announce that on June 9, 2021, its private equity affiliate, CanAm Capital Partners (CACP), closed on its latest real estate investment, a $2.5 million preferred equity investment in the redevelopment of a 12-story office building, One Belmont Plaza, located in Bala Cynwyd, Pennsylvania, just outside of Philadelphia. The sponsor is an affiliate of Keystone Property Group.
The $2.5 million capital investment for this project was reinvested from proceeds from the repayment of CanAm’s $20 million EB-5 loan to finance a portion of the Allentown City Center project, namely the development of a Marriott Renaissance hotel and construction of a Class A office building. The Allentown City Center project is part of a 10-year master-planned redevelopment of downtown Allentown by the City Center Investment Corporation.
CanAm Enterprises is a leading full-service financial firm providing immigration-linked EB-5 investment funds as well as conventional financing to qualifying developments. The redeployed capital will remain invested in order to meet EB-5 program requirements for investors impacted by immigration backlogs, while at the same time targeting investment opportunities that have the potential to generate attractive returns for clients. CanAm strives to offer EB-5-compliant redeployment investment options suited to the needs, objectives and risk tolerance of their investors.