FORT LAUDERDALE, FL – CanAm Enterprises announced that its private equity subsidiary CanAm Capital Partners (CACP) has completed its latest real estate investment – $ 3 million of reallocated investor capital that is successfully investing in Pacific Point Apartments in Fort Lauderdale, Florida Financing of the repositioning of a residential community with 420 residential units by the Frankforter Group.
CanAm Enterprises is a leading full-service financial company sponsoring EB-5 immigration-related mutual funds. The $ 3 million capital was originally part of a $ 350 million EB-5 loan provided to build the Brightline high-speed rail link in South Florida. The newly employed capital will continue to be invested in the Pacific Point project to meet program requirements for EB-5 investors affected by immigration arrears.
"We are pleased to complete this investment in partnership with the Frankforter Group, which has historically successfully implemented this value creation strategy, and we expect solid risk-adjusted returns for our investors." says John Reid, director at CACP. "This deal brings in $ 103 million of closed-end investments in our $ 220 million shift mandate in the state of Florida. We are currently in discussion with several other Florida sponsors about the remaining $ 117 million in capital available in this pool and expect to be fully provisioned in the coming months. "
Florida is one of the fastest growing states in terms of population, and Pacific Point Luxury Apartments is a Class A hotel that combines both luxury and location. The property is conveniently located in Broward County between the Florida Turnpike and I-95 in close proximity to downtown Ft. Lauderdale and the Pompano Beach business district. The property offers high quality modern accommodations as well as amenities such as a resort style pool with spa, a fully equipped fitness center and a high definition cinema with 36 seats.
Source: CanAm Capital Partners