CanAm Launches New EB-5 Project - Je erson Terminal - An
HONG KONG, July 2, 2020 /PRNewswire/ -- CanAm Enterprises (CanAm) is pleased to introduce its current EB-5 project, Jefferson Terminal, a crude oil and reﬁned products logistics facility located at the Port of Beaumont, Texas, to prospective investors in Hong Kong.
Jefferson Terminal is strategically located at the Port of Beaumont in the heart of the Gulf Coast of Texas, the largest market in the United States for crude oil and petroleum products, containing over 50% of the country's reﬁning capacity. Connected by rail, marine, highway and pipelines, Jefferson Terminal is an essential component in the supply chain for some of North America's largest producers and refineries.
The EB-5 loan borrower is an entity owned by Fortress Transportation and Infrastructure Investors, LLC, which is a publicly traded company with total consolidated assets of $3.1 billion and total equity capital of $1.1 billion. FTAI is managed by an affiliate of Fortress Investment Group that has collaborated with CanAm previously to raise $480 million through the EB-5 Program. This year, $350 million from an entity owned by Fortress investment funds is expected to be repaid at maturity and the remaining $130 million is scheduled to be repaid in July 2022. In addition to the EB-5 financing, the Port of Beaumont has already issued two 2020 series of bonds, totaling $750 million, to refinance project development.
"We are thrilled to partner with a company managed by Fortress Investment Group to launch this quality EB-5 project for prospective Hong Kong investors," said Evonne Chua, Vice President, South East Asia at CanAm Enterprises. "The Jefferson Terminal project is located in a TEA, estimated to create 40 jobs per investor, has strong sponsorship and government support, and has an attractive capital stack and strong collateral. This is one of the best projects in the current EB-5 market," Ms. Chua added.
The EB-5 Immigrant Investor Program is administered by the United States Citizenship and Immigration Services (USCIS). 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 ten permanent full-time jobs for U.S. workers.
About CanAm Enterprises
With three decades of experience promoting immigration-linked investments in the United States and Canada, CanAm has a long and established track record. Basing its business on a reputation of credibility and trust, CanAm has financed 60 projects and raised nearly $3 billion in EB-5 investments. More than $1.4 billion in EB-5 capital from over 2,800 families has been repaid by CanAm's 42 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 & New Jersey, the states of California, Hawaii, Florida, and Texas.
For more information, please visit www.canamenterprises.com.
SOURCE CanAm Enterprises