Wednesday, March 13, 2019

CanAm Capital Partners Closes Opportunity Zone Investment in #Philadelphia

by Steve Lubetkin
CanAm Capital Partners, an affiliate of CanAm Enterprises, has closed its third private equity investment deal, a $4 million investment in the development of The Civic, a mixed-use property in Philadelphia with a project budget of approximately $26.8 million.
“Many of CanAm’s investors have been looking for new investment opportunities after their EB-5 investments are repaid,” says John Reid, director of project development at CanAm Capital Partners. “We are excited to build on our 30 years of experience and offer unique investment opportunities that produce highly attractive risk-adjusted returns to our investors beyond the EB-5 program.”

CACP’s investors may be eligible for preferential tax treatment as The Civic is in an Opportunity Zone within central Philadelphia. Developed, owned and managed by Philadelphia real estate development veteran MMPartners, The Civic will embrace the original fabric of both the building and neighborhood while providing extraordinary amenities, convenient access to transportation and stylish design that all caters to the needs of millennials.
The Civic investment is offered together with CanAm’s long-time partner, the Philadelphia Industrial Development Corporation, Philadelphia’s city-wide economic development corporation, which has 60 years of experience. CanAm has partnered with PIDC in the EB-5 program for 16 years.

With more has more than 30 years of experience, CanAm Enterprises has raised and invested more than $2.8 billion since inception.

According to CanAm’s website, the EB-5 Visa is an employment-based immigrant visa category that provides permanent resident status in the United States. Foreign nationals who make an investment of $500,000 or $1 million in a new commercial enterprise in a designated Targeted Employment Area that creates at least ten new jobs for US workers can obtain residency in the US. Once the job creation requirement is met, the conditions are removed and investors obtain unconditional permanent residency.
In response to demand from investors seeking new investment opportunities with attractive risk-adjusted returns, CanAm established CanAm Capital Partners to provide select private investment opportunities focused on geographies and assets where CanAm has informational, operational and other competitive advantages.

CACP makes project-level capital investments with an average 3-5 year holding period and generally target a +10% annual internal rate of return combined with cash distribution upon stabilization.

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