CanAm Capital Partners Closes on Equity Investment in 420-unit Luxury Apartment Property in Fort Lauderdale
This closing marks $103 million in closed investments of CanAm's $220 million redeployment mandate within the state of Florida. The remaining $117 million of capital is expected to be fully deployed in the coming months.
NEW YORK, Feb. 22, 2021 /PRNewswire-PRWeb/ -- CanAm Enterprises is pleased to announce that its private equity affiliate, CanAm Capital Partners (CACP), has closed on its latest real estate investment – $3 million from redeployed investor capital that has been successfully invested into Pacific Point Apartments in Fort Lauderdale, Florida to fund the repositioning of a 420-unit apartment community by the Frankforter Group.
CanAm Enterprises is a leading full-service financial firm sponsoring EB-5 immigration-linked investment funds. The $3 million in capital was originally part of a $350 million EB-5 loan provided for the construction of the Brightline high-speed rail line in South Florida. The redeployed capital will remain invested in the Pacific Point project to meet program requirements for EB-5 investors impacted by immigration backlogs.
"We are pleased to close on this investment in partnership with the Frankforter Group which has successfully executed this value-add strategy in the past, and we expect to realize solid risk-adjusted returns for our investors." says John Reid, Director at CACP. "This closing marks $103 million in closed investments of our $220 million redeployment mandate within the state of Florida. We are in discussions with several other sponsors in Florida for the remaining $117 million of capital available within this pool and expect to fully deploy in the coming months"
Florida is one of the fastest-growing states by population in the country, and Pacific Point Luxury Apartments is a Class A property that combines both luxury and location. The property is conveniently located in Broward County between Florida's Turnpike and I-95, in close proximity to both downtown Ft. Lauderdale and the Pompano Beach business district. The property offers high-end contemporary units along with amenities that include a resort-style pool with spa, fully-equipped fitness center and a 36-seat, high-definition movie theater.
About CanAm Capital Partners (CACP)
CACP's investment strategy focuses on geographies and assets where CanAm has informational, operational, and other competitive advantages. In addition to its latest real estate investment, CACP and its affiliates have invested capital in two multi-family development properties in Texas, a hotel expansion in the heart of Philadelphia, a Class-A rental development in the center of Philadelphia and the repositioning of creative office space in Atlanta – all of which have combined asset values exceeding $335 million as of December 2020.
About CanAm Enterprises
CanAm Enterprises is a leading full-service financial firm sponsoring EB-5 immigration-linked investment funds. CanAm has financed over 60 projects, has raised over $3 billion in EB-5 investments, and has three decades of experience in promoting immigration-linked investments in the United States and Canada. More than $1.75 billion in EB-5 capital from over 3,500 investors on 45 projects has been repaid by CanAm as of 2020. 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, and the states of California, Hawaii, Florida, and Texas. For more information, please visit http://www.canamenterprises.com.
Media Contact
Clare Chen, CanAm Enterprises, 6468258722, [email protected]
John Reid, CanAm Capital Partners, 6468258714, [email protected]
SOURCE CanAm Enterprises
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