San Jose, CA, February 2, 2016 – NES Financial announced today that its Intelligent EB-5 Solutions – Fund Administration and Immigration Workflow – have been selected by Epelboim Development Group on their latest project, EVEN® Hotel at the Miami Int’l Airport.
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. While relatively obscure in early decades, recent years have seen exponential growth in the use of this capital in projects of all types and sizes. Commercial real estate developers in particular have gravitated strongly toward low-cost EB-5 money, frequently making it a standard part of their capital stacks.
Located one mile east of the Miami International Airport, EVEN® Hotel at Miami Airport will feature 190 rooms and a five story parking garage when it opens in 2018. EVEN® Hotels is the newest lifestyle hotel brand of the InterContinental Hotels Group and was created with wellness at its core. The brand is designed to help travelers Eat Well, Rest Easy, Keep Active, and Accomplish More, making it ideal to better serve wellness-minded travelers and is the first of its kind in the Southeast and the fifth of its kind in the entire country.
“With over 30 years of experience in commercial real estate, we understand the importance of making sure our business processes run as smoothly as possible,” said Noel Epelboim, CEO and President of Epelboim Development Group. “NES Financial’s EB-5 Solutions help us achieve this by lifting the heavy administration work off of our plate so we can focus on developing the project.”
NES Financial’s suite of Intelligent EB-5 Solutions is designed to cover the unique requirements of the entire EB-5 process, start to finish. Each solution provides security, transparency, and compliance for the utmost investor confidence in a project. Whether utilizing select products or the entire bundle, these unique solutions take care of the middle and back office administration so issuers can focus on doing what they do best.
“As compliance requirements in the industry continue to increase, we expect to see EB-5 issuers overlay our Intelligent EB-5 Fund Administration and Immigration Workflow Solutions onto existing projects,” said Reid Thomas, NES Financial Executive Vice President. “Outsourcing these functions to a third party is considered a best practice in the administration of traditional private equity funds. Experienced issuers in the EB-5 space understand the importance of working with third party administrators in order to deliver the highest levels of security, transparency, and compliance.”
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 escrows, 1031 exchanges, and fund administration services. 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 and 2015 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 Epelboim Development Group
Epelboim Development Group (EDG) is a full service development company involved in residential, commercial, and hospitality projects in South Florida, as well as Latin America. EDG’s Principal, Noel Epelboim, has developed over 2 million square feet of residential and commercial space in North and South America since 1986. His 30+ years of knowledge and experience are the basis for successful real estate projects. For more information, please visit epelboim.com.