America West Regional Center selects NES Financial’s EB-5 Escrow Administration Solutions for redevelopment project
San Jose, CA, November 12, 2013 – NES Financial announced today that it has been selected by America West Regional Center to provide escrow administration solutions for its current EB-5 offering. NES Financial’s solutions hold investor funds in secure, FDIC-insured accounts while providing sub-account level visibility to each investor.
America West Regional Center, a True West Company, will provide $14.5 million of debt financing for the redevelopment of an existing hotel property located just north of downtown Phoenix, Arizona. The property, to be named The Foundry, will be a 105 room, full service hotel with a unique arts focus and a chef driven restaurant. Palisades Hospitality Group, which specializes in life-style resorts and hotels, will manage the property.
“We wanted the very best EB-5 escrow fund administration for our investors,” said Peter Gooding, President of America West Regional Center. “NES Financial is the clear leader in providing technology-enabled services to help us manage our operations. Their solutions help us increase our operational efficiency, allowing us to focus on the development itself, while providing us the marketing advantage of increased investor confidence.”
NES Financial’s suite of EB-5 Fund Administration Solutions are unique in the marketplace. Each solution has been purpose built specifically for the EB-5 industry. As such, the solutions offer operational efficiency benefits to EB-5 issuers while also providing increased security and transparency to individual investors. By providing a complete audit trail of the flow of funds throughout the life cycle of the immigration process – from the I-526 application to the I-829 removal of conditions – the highest levels of compliance are maintained.
“America West Regional Center recognizes the value that our solutions provide operationally, in addition to the marketing benefits brought by the NES Financial brand,” said Reid Thomas, EVP at NES Financial. “We are pleased to see the high rate of adoption of our EB-5 solutions suite by leading organizations.”
About NES Financial
NES Financial provides technology-enabled services for the efficient administration of highly specialized financial transactions. Our custom solutions include EB-5 escrows, 1031 exchanges, and multi-tiered sub-accounting transactions. Many of the world’s largest corporations rely on our proprietary technology, unparalleled expertise, and outstanding services to ensure the secure, transparent, and compliant management of funds. Recognized two years running by Inc. Magazine’s 500|5000 list as one of the fastest growing private companies in America, NES Financial helps companies lower administrative costs, reduce risk, and improve ROI. For more information, visit www.nesfinancial.com.
About True West Companies
True West is a diversified real estate consulting, investment, and development enterprise established in 1998. America West Regional Center, L.L.C., the latest True West entity, is designated by the USCIS as a Regional Center under the EB-5 Immigrant Investor Program. America West provides qualified foreign investors rigorously underwritten, low-risk EB-5 compliant investments, administered with best technologies and complete transparency. For more information, visit www.truewest.com.