U.S. Senator Tim Scott introduced the IMPACT Act today, an expanded bill that would establish reporting requirements for the Opportunity Zones incentive. “It’s loud and clear that legislative momentum and interest around reporting requirements continues to grow by all sides of the aisle,” said Reid Thomas, EVP of NES Financial’s Specialty Financial Administration Business, which [...]
Specialty financial administrator NES Financial announced today that it has contracted to provide its purpose-built Opportunity Zone Fund Administration Solution to Synergy Investments. Synergy Investments is a full-service real estate investment firm based in Boston that has delivered a total weighted average IRR of 32% to institutional investors over the last 15 years. The newly [...]
Specialty financial administrator NES Financial announced that it has added a new, purpose-built fund administration service to its current lineup of EB-5, 1031 exchange, private equity and Opportunity Zones offerings. The 1031 DST Administration Solution leverages NES Financial’s award-winning eSTAC® administration technology to provide maximum security, transparency, and compliance to Delaware Statutory Trust (DST) managers [...]
The new EB-5 regulations went into effect on November 21. In a series of blogs, NES Financial (along with its Medallion partners) is looking at the impact of the regulations and what EB-5 stakeholders can do to prepare for and operate in this new era, which we’re calling EB-5 3.0. Despite the fact that USCIS [...]
Specialty financial administrator NES Financial announced today that it has contracted to provide its purpose-built Opportunity Zone Fund Administration services to InvestNewMexico.us (INM), an Albuquerque/Santa Fe–based partnership focused on affordable and sustainable housing, agriculture, film, technology transfer and emerging media industries. “New Mexico is a very poor state, and our mission is to inspire New [...]
Senator Ron Wyden introduced the “Opportunity Zone Reporting and Reform Act” this week, which would amend the Internal Revenue Code of 1986 to require to increase reporting for qualified opportunity funds. “Legislative momentum around reporting requirements continues to increase,” said Reid Thomas, EVP of NES Financial’s Specialty Financial Administration Business, which includes Opportunity Zone [...]
NES Financial, a fintech company providing technology-enabled solutions for the efficient back- and middle-office administration of complex financial transactions, announced today that it has contracted to provide its 50th Opportunity Zone client with its purpose-built Opportunity Zone Fund Administration Solution. “NES Financial is a pioneer in the Opportunity Zone space, growing significantly since signing our first [...]
Specialty financial administrator NES Financial announced today that it has contracted to provide its purpose-built Opportunity Zone Fund Administration services to Greenwave, a collaboration and energy solutions service platform centered around energy conservation, renewable, and smart energy. Greenwave Opportunity Zone Fund seeks to help ensure clean water to residents in Opportunity Zones throughout the country. [...]
An NES Financial Opportunity Zones Webinar Wednesday, November 20, 2019 | 11:00 am PT It’s almost the end of 2019, and the Opportunity Zones initiative is thriving. How is your fund performing and what are the latest trends to help your business grow in 2020? In this free Opportunity Zones webinar, NES Financial and OZ [...]
Novogradac’s 2019 Opportunity Zones Conference in Chicago is one of the largest OZ events in the country where fund sponsors, developers, investors, accountants, lawyers and stakeholders attend to discuss and learn how to effectively invest in qualified opportunity zone funds. Our EVP Reid Thomas spoke about fund administration at this conference and one of the [...]
