San Jose, CA, July 14, 2015 – NES Financial announced today that it has been selected by Driftwood Hospitality Management to provide its leading Intelligent EB-5 Solutions on the company’s current hotel development in Miami, Florida.
The EB-5 visa program, created in 1990, encourages investment in 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 an EB-5 escrow account prior to investment in the New Commercial Enterprise, which then uses the funds to create jobs.
EB-5 capital will be used in the development of the Marriott Residence Inn at Flagler Station. The hotel will be located in the largest business park in South Florida. As one of only two hotels allowed to be built inside the business park, the 123-room, all-suites, extended stay hotel will meet a very important need in the busy area when it is completed. Residence Inn is a pioneer and leader of the extended stay hotel category with more than 650 all-suites hotels across four continents.
“NES Financial came highly recommended as the leading experts in EB-5 administration, having worked on enough projects to fully know how to handle every step of the process,” said Carlos J. Rodriguez, Vice President of New Development for Driftwood Hospitality Management. “Their Solutions provide a transparent way for our investors to easily track their funds throughout the entire life cycle, giving both them and us peace of mind that things are being done right.”
NES Financial’s suite of Intelligent EB-5 Solutions has been used on over 300 projects representing more than $12 billion in capital. Each solution provides security, transparency, and compliance for the utmost investor confidence in a project.
“The use of EB-5 as part of the capital stack has grown dramatically in recent years,” said Reid Thomas, NES Financial Executive Vice President. “This growth has increased the need for operational efficiency, transparency, and compliance in the process. By relying on the suite of Intelligent EB-5 Solutions we provide, developers can focus on doing what they do best.”
About NES Financial
NES Financial provides technology-enabled services for the efficient middle and back office administration of highly specialized financial transactions. The company’s custom solutions include EB-5 administration, 1031 exchanges, and fund administration services. Many of the world’s largest financial institutions and corporations rely on NES Financial’s 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 Driftwood Hospitality Management
Driftwood Hospitality Management is a leading hotel development and management company operating 50 hotels with over 9,000 rooms throughout the United States and Costa Rica. The company’s current portfolio includes a broad cross-section of brands and ranges from full-service hotels and resorts to mid-size select service, extended stay and independent boutiques. Driftwood has extensive experience working with major brands like Hilton, Marriott International, Inc., Starwood Hotels & Resorts Worldwide, Inc., InterContinental Hotels Group, Hyatt Hotels Corporation, Wyndham Worldwide, and Choice Hotels International, Inc. For more information, visit driftwoodhospitality.com.