CanAm Enterprises Celebrates Landmark $2.5 Billion Repayment Milestone with Repayment of The Spiral
New York, NY – January 2024 – CanAm Enterprises is thrilled to announce the successful repayment of the $215.5 million EB-5 loan for The Spiral, a landmark Class-A office tower located in the heart of Manhattan’s Hudson Yards. This repayment not only signifies the culmination of a remarkable project but also marks a historic milestone for CanAm Enterprises: a total of $2.5 billion in EB-5 capital repaid to our investors.
The Spiral: A Beacon of Excellence in Development
Developed by Tishman Speyer, The Spiral is a 2.8 million rentable square-foot, 1,000-foot-tall office tower that sets new standards for modern workplace environments. Anchored by high-profile tenants like Pfizer, Turner Construction, and Debevoise & Plimpton, The Spiral has achieved approximately 95% occupancy, with additional leases in negotiation. The project’s robust leasing activity—despite challenges in the broader office market—highlights its exceptional quality and appeal.
With over $3.41 billion spent on development and more than 18,450 jobs created, The Spiral exemplifies the transformative impact of EB-5 investment. CanAm’s $215.5 million loan to the project, funded by 431 EB-5 investors, has not only facilitated economic growth but also supported the immigration goals of families from around the globe.
Celebrating $2.5 Billion in Repayments: A Legacy of Trust and Success
The repayment of The Spiral loan elevates CanAm Enterprises’ total capital repayment to an unprecedented $2.5 billion—a milestone unmatched in the EB-5 industry. This achievement reflects CanAm’s unwavering commitment to delivering on its promises and setting the gold standard for integrity and excellence.
Tom Rosenfeld, Founder and CEO of CanAm Enterprises, expressed his gratitude for the trust placed in CanAm by its investors. “Surpassing the $2.5 billion repayment milestone is a testament to the dedication and expertise of our entire team. It’s also a reflection of the strength and reliability of the EB-5 program when executed with care and diligence. We are proud to help our investors achieve their immigration and financial goals while driving meaningful economic impact in the United States.”
Christine Chen, Chief Operating Officer of CanAm Enterprises, echoed this sentiment. “This moment is a celebration of our investors and their trust in us. It’s also a validation of our rigorous approach to project selection and management. As we look ahead, we remain committed to upholding the highest standards and delivering results that benefit our investors, partners, and communities alike.”
A Track Record of Excellence
For over 35 years, CanAm has been a leader in immigrant-linked investments, raising more than $3.5 billion in EB-5 capital across more than 65 projects. The $2.5 billion milestone reinforces CanAm’s reputation as a trusted partner in the EB-5 industry, known for transparency, compliance, and a steadfast focus on investor success.
Looking Forward
As CanAm celebrates this extraordinary milestone, the company remains dedicated to advancing the EB-5 program’s mission of creating jobs and driving economic growth. The repayment of The Spiral loan underscores the transformative potential of EB-5 investments and reaffirms CanAm’s position as a trusted industry leader.
For more information about CanAm’s EB-5 investment opportunities, please visit www.canamenterprises.com.
About CanAm Enterprises
CanAm Enterprises has been a leading sponsor of immigration-linked investment funds for over 35 years. With a proven track record of success, CanAm has raised more than $3.5 billion in EB-5 capital for over 65 projects, resulting in the creation of more than 100,000 jobs across the United States. Known for its commitment to transparency and integrity, CanAm continues to set the industry standard for excellence.
