CanAm Enterprises (CanAm) is pleased to announce that it has successfully closed and funded a $20 million redeployment investment in an existing $185,000,000 construction loan made by an affiliate of Mack Real Estate Credit Strategies to an affiliate of Terra Group. The construction loan is being used to finance the development of the Mr. C Residences, Coconut Grove project, a new residential development in Coconut Grove, Florida featuring two, 21-story towers connected by an above-grade parking structure. The project is being branded as Mr. C Residences, a brand affiliated with the renowned Cipriani Restaurant, and will feature numerous amenities, such as a pool deck with bar, fitness center, signature cafe, spa, juice bar ,and gourmet market, a billiards room and a business room.
Founded in 2001, Terra Group has played a significant role in the transformation of the South Florida market. The firm has developed more than 4.5 million square feet of residential and commercial space valued at more than $4 billion. “We are very excited to partner with Mack and Terra on this quality project in one of the best submarkets in South Florida,” said John Reid, Director of Project Development at CanAm Capital Partners (CACP), an affiliate of CanAm Enterprises. “The project and sponsorship are best-in-class, and the Mr. C brand has been exceptionally well received in the marketplace.We are pleased to make this investment on behalf of our investors, offering them a secure investment with attractive risk-adjusted returns,” added Reid.
CanAm has built a solid reputation for delivering results for its investor clients over the past three decades, having successfully raised and invested over $3 billion across its investment platforms. This closing is part of a $221 million investment portfolio that CanAm is placing within the State of Florida. Additional closings will be announced in the near future.
A private equity affiliate of CanAm Enterprises, CanAm Capital Partners (“CACP”) makes project-level capital investments in real estate and other assets. CACP’s investment strategy focuses on geographies and assets where CanAm has informational, operational, and other competitive advantages. CanAm identifies and partners with mid-sized and regional operators who are specialized by asset type and/or geography and have proven to be experts in their niche with the capacity and potential to successfully execute on their proposed projects, including multifamily apartments, commercial space, mixed-use buildings, hotels, and private equity funds. To date, CACP and its affiliates have funded $254 million of capital in almost 20 private equity real estate investments in major metropolitan areas of the U.S.
CanAm Enterprises, with over three decades of experience promoting immigration-linked investments in the US and Canada, has a demonstrated track record of success. With over 60 financed projects and $3 billion in raised EB-5 investments, CanAm has earned a reputation for credibility and trust. To date, CanAm has repaid more than $2.26 billion in EB-5 capital from over 4,530 families. CanAm manages several USCIS-designated regional centers that stretch across multiple states. For more information, please visit www.canamenterprises.com.