The $14.5M EB-5 loan supported the prestigious Lundquist Biomed Research Center project in L.A.
New York, NY – CanAm Enterprises (CanAm) today notified its EB-5 investors who supported the construction of the Los Angeles-based Lundquist Institute for Biomedical Innovation (formerly, LA BioMed) that the partnership loan has been repaid in full and on time. As one of the leading financial services companies helping clients achieve their immigration and investment goals for more than 35 years, CanAm has now made 49 full project repayments – emblematic of the company’s EB-5 track record of undertaking quality projects with experienced partners.
“I can’t think of a better way to start the new year than by sharing good EB-5 repayment news with investors who have entrusted CanAm with their EB-5 journey,” said Tom Rosenfeld, President and CEO of CanAm Enterprises. “CanAm’s 49th full repayment is a great example of the many world-class projects we source for our investors. Our conservative investment approach has allowed us to repay more than $2.19 billion in EB-5 capital to date. Regardless of the challenges, from pandemics to changing market conditions and other industry obstacles that have arisen over the years, CanAm has faithfully kept our commitments, year after year, for more than three decades.”
CanAm’s repayment is for a $14.5 million EB-5 loan that supported the construction of a four-story biomedical research facility at the Lundquist Institute, which is located on the Harbor-UCLA campus in Torrance, California. The 82,000-square-foot facility was completed in early 2019. The Lundquist Institute is one of the foremost independent, non-profit research institutes in the U.S., having over 100 internationally recognized principal investigators, including PhDs, MDs, and MD/PhDs who are working on more than 600 research studies.
Administered by the U.S. Citizenship and Immigration Services (USCIS), the EB-5 Visa Program provides qualified foreign investors and their family members the opportunity to earn conditional visas in return for investing $800,000 in job-creating development projects located in high-unemployment areas of the United States. The repayment comes as the EB-5 Program enters what will be its first full year under new rules introduced after being in abeyance. The new EB-5 Reform and Integrity Act of 2022, which became effective on May 14, 2022, instituted a host of integrity and other rules to enhance the EB-5 Program.
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.