CanAm is an integrated, multinational investment management firm that specializes in immigration-linked investment funds and private equity. With over three decades of experience, CanAm’s strategic approach to utilizing investor capital and managing risk has raised over $3 billion in private placement funds. Headquartered in New York City with offices in China, Vietnam, India and Singapore, CanAm is proud to serve a domestic and international community of investors.
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. CACP has provided $30 million in private equity capital to an affiliate of Toll Brothers, Inc., one of the nation’s leading builders of luxury homes, through its Toll Brothers Campus Living division, for the construction of a 293-unit/1,086-bed Class A student housing property in Sweetwater, Florida. The purpose-built facility, which will be branded as “The Lapis,” is located directly adjacent to the main campus of Florida International University (FIU). Proceeds will be used for the construction of the $150.6 million project, which is scheduled for completion in third quarter 2022.
“At CACP, we pride ourselves on partnering what we consider to be with best-in-class developers, and we couldn’t be more thrilled to be paired with Toll Brothers in this development,” said John Reid, Director of Project Development at CACP. Founded in 1967, Toll Brothers is an award-winning Fortune 500 company that currently builds in 24 states. 2021 marks the tenth year Toll Brothers has been named to Fortune magazine’s World’s Most Admired Companies list, and the firm also has been honored as national Builder of the Year by Builder magazine.
“Lapis is a strategic project that will serve the growing demand for student housing in the FIU market,” added Reid. “This closing marks our eighth investment in Florida projects over the last year.” FIU is located in the greater Miami metro and has been recognized as the fastest growing university in Florida. Its enrollment has jumped 26.9% over the last decade.
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.