Wexford Miami, LLC, the members of which are Wexford Equities, LLC & Wexford Science + Technology, LLC (“Wexford”) completed the first phase of the University of Miami Life Science & Technology Park in 2011. The building contains 252,000 square feet and is leased to life science, university and ancillary retail and office tenants.  The $107 million project was funded through a combination of debt financing (from a 30-year tax exempt bond and BirchLEAF Miami 31, LLC EB-5 funds), federal new market tax credits and the developer’s cash equity.

The UM Life Science & Technology Park is situated on an eight acre site and is expected to contain 1.65 million square feet of total building area in five buildings upon completion, approximately 75% of which is intended for biomedical research and development uses along with supporting activities.  The land that comprises the UM Life Science & Technology Park is owned by the University of Miami.  The Park site is adjacent to the University of Miami Miller School of Medicine within the Miami Health District. 

BirchLEAF successfully completed a $20 million EB-5 funding in 2012, of which all 40 investors successfully obtained their I-526 approval.

The Jacob France Institute of the Merrick School of Business at the University of Baltimore estimated job creation of over 1,500 jobs (including the multiplier effect) at an average salary of $50,000.