California Real Estate Regional Center Selects NES Financial’s EB-5 Escrow Solution for Hotel Project on USC Medical Campus
San Jose, CA, August 20, 2014 – NES Financial announced today that it has been selected by California Real Estate Regional Center to provide its leading EB-5 Escrow Administration Solution on the company’s latest project, a branded extended-stay hotel for the University of Southern California (USC) Health Sciences Campus. NES Financial’s EB-5 Solutions have been used on over 220 projects.
The EB-5 visa program, created in 1990, encourages investment into projects that stimulate U.S. job growth, while providing an opportunity for foreign nationals to become lawful permanent residents. An applicant’s investment is typically held in escrow prior to investment in a New Commercial Enterprise. In 1992, Congress enhanced the program by permitting the designation of Regional Centers to pool EB-5 capital. An EB-5 Regional Center is a business approved by the United States Citizenship and Immigration Services to coordinate and substantiate foreign investments for specific types of job-creating projects within a designated geographic area.
California Real Estate Regional Center’s latest project consists of financing a portion of the new hotel on the USC Medical Center Campus in Los Angeles. The four-story hotel will feature 200 guest rooms, over 13,000 square feet of retail space, and a conference facility to serve the USC Medical Campus.
“NES Financial came very highly recommended as the leaders in the space, having more experience with EB-5 escrow administration than anyone else on the market,” said Steve Shpilsky, Managing Principal and Co-Founder of California Real Estate Regional Center. “Foreign agents and investors were very familiar and comfortable with the NES Financial platform, so it was an obvious choice for us to use them on this project.”
NES Financial’s suite of EB-5 solutions was built to cover the entire EB-5 life cycle, from start to finish. EB-5 Intelligent Escrow, EB-5 Fund Administration, and EB-5 Immigration Workflow track and manage the flow of funds and immigration documents with the highest levels of security, transparency, and compliance. These capabilities ensure investor confidence and help EB-5 issuers increase the probability of achieving project success.
“With the growth in popularity of the EB-5 program in recent years, investors are doing significant due diligence before choosing a specific project to invest in,” said Reid Thomas, NES Financial Executive Vice President. “As California Real Estate Regional Center’s experience proves, investors are looking to EB-5 issuers who focus on implementing solutions that provide the highest level of service to their investors.”
About NES Financial
NES Financial provides technology-enabled services for the efficient middle and back office administration of highly specialized financial transactions. Our custom solutions include EB-5 administration, 1031 exchanges, and fund administration transactions. Many of the world’s largest financial institutions and corporations rely on our proprietary technology, unparalleled expertise, and outstanding services to ensure the secure, transparent, and compliant management of funds. Recognized by Artisan Business Group as the 2013 EB-5 Service Provider of the Year and by Inc. Magazine’s 500|5000 as one of the fastest growing private companies in America two years in a row, NES Financial helps companies lower operational costs, reduce risk, and improve ROI. For more information, visit nesfinancial.com.
About California Real Estate Regional Center
California Real Estate Regional Center (CaRE) is a Los Angeles based federally designated EB-5 Regional Center. CaRE provides Southern California real estate developers with debt and equity capital from foreign investors who wish to invest in a U.S. business in order to obtain lawful permanent residency through the EB-5 program. CaRE has raised $28.5 million in EB-5 capital over the past year and has a pipeline of EB-5 deals exceeding $150 million. The CaRE team has over 50 years of global finance and real estate experience in the U.S., China, Russia, Europe, and South America. For more information, visit eb5socal.com.