TAIPEI, Oct. 15, 2019 /PRNewswire/ -- CanAm Enterprises ("CanAm") is pleased to announce that its 40th EB-5 project – the Molina Healthcare Project – has repaid in full and early. EB-5 investors in the Molina Healthcare Project joined the 2,600 other EB-5 investor-families that have already been repaid by CanAm's projects to date.
The $34.5 million EB-5 investment financed the redevelopment of the Press-Telegram Building and Meeker Baker Building in Long Beach, CA, which contain a combined 209,702 rentable square feet of Class-A office space that is leased entirely to Molina Healthcare, a Fortune 500 company which provides services to patients through state and federally operated healthcare programs. The completion of the project enabled Molina Healthcare to hire new full-time employees to service its expanding national operations and clientele.
The Molina Healthcare Project has created a significant number of new jobs in California and has stimulated the state's economy. The successful development of the Molina Healthcare Project and associated job creation is expected to enable all EB-5 investors to receive permanent residency in the U.S.
"We are thrilled to reach such a great milestone and further establish our track record, which is an industry benchmark," said Christine Chen, COO of CanAm Enterprises. "Our consistent approach to project sourcing and thorough due diligence is key to providing great EB-5 investment opportunities."
The EB-5 Immigrant Investor Program is administered by the United States Citizenship and Immigration Services (USCIS). The Program provides qualified foreign investors with the opportunity to earn "conditional" or temporary two-year visas in return for investing $500,000 (or $900,000 after November 21, 2019) in businesses located in high unemployment areas that create or retain at least ten permanent full-time jobs for U.S. workers.
About CanAm Enterprises
CanAm Enterprises is a leading EB-5 regional center which has a long and established track record. Basing its business on a reputation of credibility and trust, CanAm has financed nearly 60 projects and raised more than $2.8 billion in EB-5 investments. More than $1.3 billion in EB-5 capital from over 2,600 families has been repaid by CanAm's 40 projects to date.
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