Tuesday, November 26, 2019

SORA West Conshohocken Financed by CanAm with $40M in EB-5 Money

by John Jordan Globest.com
CanAm Enterprises reports it has closed a $39.5-million EB-5 investment to help finance the construction of a new office tower at SORA West, a large-scale multi-faceted development here.

The office tower will be fully leased by global pharmaceutical and healthcare products distribution firm AmerisourceBergen. The office complex will serve as the global headquarters for the company.
The 11-story, approximately 430,000-square-foot office tower is the first phase of SORA West, which will also include a world-class hotel facility with significant restaurant space and a rooftop lounge.

The property is being developed by Keystone Property Group, which broke ground on the project in April of this year.
The EB-5 Immigrant Investor Program is administered by the United States Citizenship and Immigration Services. The EB-5 Program provides qualified foreign investors with the opportunity to earn a conditional, or temporary, two-year green card in return for investing $900,000 in projects located in high unemployment areas that create at least 10 permanent full-time jobs for US workers.

New York City-based CanAm Enterprises has financed 60 projects and raised nearly $2.9 billion in EB-5 investments. More than $1.3 billion in EB-5 capital from more than 2,600 families has been repaid by CanAm’s 40 projects to date.

CanAm exclusively operates seven USCIS-designated regional centers that are located in the City of Philadelphia, the Commonwealth of Pennsylvania, the metropolitan regions of New York and New Jersey, the states of California, Hawaii, Florida and Texas.

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