CanAm Capital Partners (CACP), an affiliate of CanAm Enterprises, has made its third private equity investment deal, which closed recently.
CACP has invested $4 million in the development of The Civic, a mixed-use property in Philadelphia with a project budget of approximately $26.8 million. CACP’s investors may be eligible for preferential tax treatment as The Civic is located in an Opportunity Zone within central Philadelphia. Developed, owned and managed by Philadelphia-based real estate developer MMPartners, The Civic will embrace the original fabric of both the building and neighborhood while providing extraordinary amenities, convenient access to transportation and stylish design, all of which cater to the needs of millennials — one of the fastest growing demographics of renters in the region.
The Civic investment is offered together with CanAm’s long-time partner, the Philadelphia Industrial Development Corporation (PIDC), Philadelphia’s city-wide economic development corporation, which has 60 years of experience. CanAm has partnered with PIDC in the EB-5 program for 16 years.
