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NES Financial Awarded IIUSA “U.S. Champion” Award for Commitment to EB-5 and Job Growth

NES Financial, a Silicon Valley FinTech company providing technology-enabled solutions for the efficient back- and middle-office administration of complex financial transactions, was presented with the U.S. Champion Award at the 2019 IIUSA EB-5 Advocacy Conference in Washington, D.C. "IIUSA is proud to recognize NES Financial, and all other members who were honored at this year's [...]

Urban Catalyst Chooses NES Financial to Administer First San Jose Opportunity Zone Development

NES Financial announced today that it has been contracted to provide its purpose-built Opportunity Zone Fund Administration Suite to Urban Catalyst — a San Jose–based Opportunity Fund that plans to develop a 65,000-square-foot mixed-use space within one of the city’s Opportunity Zones as their first project. They also have five additional projects in their Opportunity [...]

Kevin Walkup Joins NES Financial as COO and President of DataOps Division

NES Financial is proud to announce the appointment of Kevin Walkup as Chief Operating Officer and President of its DataOps division. “Kevin is going to elevate NES Financial’s award-winning technology to the next level,” said Michael Halloran, Chairman and CEO of NES Financial. “He is an innovative and strong tech executive with a proven track [...]

2019-05-22T08:54:16+00:00May 21st, 2019|Categories: BLOG, Press Release|Tags: , , , |

Opportunity Zones Newsletter Week of May 13, 2019

EIG Applauds Bipartisan Bill on Opportunity Zones Reporting Requirements The Economic Innovation Group welcomed bipartisan Congressional action to affirm the importance of investment transparency in Opportunity Zones. “This bipartisan legislation will provide transparency regarding how and where capital gets deployed by Opportunity Funds,” said EIG President and CEO John Lettieri. He also said it [...]

Opportunity Zones Newsletter Week of May 6, 2019

Will New Opportunity Zones Rules Propel an Office Boom? The new regs could make it easier for businesses to qualify for tax breaks. The April rules clarified a number of developers’ most pressing concerns about how a property could be refinanced, and how much time real estate funds had to buy and reinvest in Opportunity Zone properties. READ THE FULL [...]

The Importance of a Regional Center Operational Plan [Article]

Read the article   According to Form I-924 instructions for regional center designation, an application must include a business plan for how the principals of the regional center anticipate they will manage and operate the regional center once approved. In recent years, USCIS has begun to scrutinize this business plan — also called an [...]

California Opportunity Zone Funds: A Developing Compliance Landscape

By Michael Halloran, Chairman and CEO of NES Financial Originally published in The Registry. As innovative as California is, there’s one key area the state could better improve in and can’t afford to be in last place for: Opportunity Zones. The basics of the Opportunity Zone program are intentionally simple. Individuals who reinvest capital gains [...]

NES Financial’s Private Equity Fund Administration Selected by FrontFour Real Ventures for Nashville Real Estate Fund

NES Financial announced today that it has been selected by FrontFour Real Ventures LLC as the third-party administrator for the firm’s Nashville-based real estate private equity fund. FrontFour’s investment strategy is to develop condominium and mixed-use real estate projects with a particular focus on areas with high walkability scores, strong demographic trends and general affordability. [...]

Opportunity Zones Newsletter Week of April 29, 2019

A Deeper Dive into the Second Tranche of Opportunity Zones Regulations: Benefits and Pitfalls Part two of Novogradac’s analysis of the latest proposed rules. The second tranche of regulations provided more guidance in a broader range of areas than many expected, which has led Treasury to mention that a third tranche of regulations may not be needed. [...]

Opportunity Zones Newsletter Week of April 22, 2019

IRS Publishes Second Round of Proposed OZ Guidance Proposed rules are updated and clarified, opening the door for more diverse investments. While several key questions remain, the regulations remove many of the most significant hurdles that have held back investment since Opportunity Zonesbecame law, especially for investment into new and expanding operating businesses. READ THE FULL [...]