Cloud-based technology platform delivers operational efficiency and competitive advantage to the Florida-based EB-5 Regional Center
San Jose, CA, May 8, 2012– NES Financial, the nation’s leading provider of escrow administration technology and services to the EB-5 industry, announced that Florida Regional Center has selected the company’s cloud-based EB-5 Escrow Administration Solution to administer investor funds associated with the Regional Center’s Harbourside Place and Water Point projects in Jupiter, Florida.
Florida Regional Center required a technology-based solution that would streamline escrow processes, enable online archiving of key documentation, and generate comprehensive reports. NES Financial’s comprehensive EB-5 Escrow Administration Solution offers an unprecedented level of administrative flexibility, funds security and transactional transparency to improve the Florida-based Regional Center’s operational efficiency and meet investor demands.
“The Florida Regional Center selected NES Financial’s EB-5 Escrow Administration Solution because it was the best available solution to meet our needs,” said Nicholas A. Mastroianni II, President of Allied Capital of Development of South Florida and The Florida Regional Center. “Using NES Financial’s unique state-of-the-art technology and EB-5 specific services makes it efficient and cost-effective to set up and manage investors’ accounts while providing our investors with the highest levels of transparency and funds security.”
Florida Regional Center’s Harbourside Place project will consist of retail stores, restaurants, offices, hotels and marina slips, and is expected to create 2,400 jobs over the next three years in the Targeted Employment Area (TEA)—a rural area or an area experiencing unemployment of at least 150 percent of the national average rate. Meanwhile, the Regional Center’s Water Point project will be developed into 4.21 acre project comprised of apartments, golf villas, retail stores, and restaurants along the Jupiter Riverwalk, and is expected to create 250 jobs in the area.
During the investor’s I-526 application process, EB-5 Regional Centers work with NES Financial to place investors’ deposits into escrow accounts pending the approval by the U.S. Citizenship and Immigration Services.
NES Financial continues to be the EB-5 industry’s leading provider of escrow administration technology and services. Built on its proprietary eSTACTM technology platform, NES Financial’s EB-5 Escrow Administration Solution offers a streamlined approach to administering investors’ funds.
“The Florida Regional Center is one of the leading Regional Centers in the country, and we are pleased that our EB-5 Escrow Administration Solution has been selected to meet their needs,” said Reid Thomas, NES Financial’s Executive Vice President of Worldwide Sales and Marketing. “Enabling Regional Centers to improve their efficiencies while delivering a greater degree of security and transparency to their investors remain the foundation of our EB-5 Solutions.”
For more information on NES Financial’s EB-5 Escrow Administration Solution, click here.
About NES Financial
NES Financial (NESF) is a leading provider of trust and escrow administration technology and services for banks, other financial institutions and Fortune 500 companies. The company’s state-of-the-art virtual private cloud-based solutions provide banks and financial institutions with increased fee revenue opportunities, reduced compliance costs and improved operating efficiency. NES Financial focuses on business sectors with complex processes, significant compliance requirements, and large sub-accounting needs, including landlord/tenant security deposit escrows, client trust accounts, capital raises, pre-need trusts and many more. NES Financial was recently ranked in Inc. magazine’s 500|5000 list of fastest-growing businesses in America.
About Florida Regional Center
The Florida Regional Center has received full approval as a designated regional center by the United States Citizenship and Immigration Services (USCIS). This highly-anticipated initiative has been garnering great interest worldwide for the wealth of development opportunities in the prime paradise of Florida. Located in a dynamic tropical destination famed for its business and its beaches, the Florida Regional Center provides worthwhile opportunities for foreign investors and their families to obtain permanent U.S. residency through the EB-5 Visa Program. Just as Florida offers the ideal climate for business and pleasure, the Florida Regional Center provides the perfect opportunity for international investors and their families to obtain green cards by investing in exciting Florida Regional Center projects.
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