CanAm Enterprises LLC, one of the leading sponsors of EB-5 immigrant investment funds, announced today that 26 immigrant investors were repaid in full as a result of the $ 13 million loan to Temple University Health System(TUHS), which reached maturity on April 22, 2011.
CanAm is pleased to report that the TUHS project created in excess of 600 full-time jobs in the United States, more than double that of the 260 required USCIS standard of ten jobs per investor. As a result of the job creation, permanent green cards were issued to all 26 investors who may now apply for US citizenship.
The $ 13 million EB-5 loan for the TUHS project financed a new administrative headquarters for the health organization, a non-profit institution that operates seven different facilities associated with Temple University. The TUHS project was developed by CanAm in partnership with the Philadelphia Industrial Development Corp. (PIDC), a private, not-for-profit corporation that promotes economic development and job creation in Philadelphia. PIDC is one of five Regional Centers exclusively operated by CanAm.
To date, CanAm and PIDC have sponsored more than $ 575 million in EB-5 investments for a variety of Philadelphia-based projects that will result in the creation of more than 12,000 new jobs in the US. CanAm President/CEO Tom Rosenfeld said, We look forward to continuing to work with our partner, PIDC, to bring needed capital and economic development to Philadelphia.
About CanAm Enterprises, LLC
CanAm Enterprises has nearly 25 years of experience promoting immigration-linked investment funds in the U.S. and Canada. To date, CanAm has financed over 40 project loans and raised over $ 1 billion in EB-5 investor funds. CanAm is the exclusive promoter of five regional centers under the EB-5 Immigrant Investor Program, including PIDC, the Commonwealth of Pennsylvania, the State of Hawaii, the County of Los Angeles and Plattsburgh, NY. For more information, please visit http://www.canamenterprises.com.
Contacts:
Dan Charnas
Adam Friedman Associates
917.675.6244
dan(at)adam-friedman(dot)com
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