San Jose, CA, June 22, 2016 – NES Financial announced today that it has been selected by New York Immigration Fund (NYIF) to administer its EB-5 Escrow Administration, Fund Administration, and Immigration Workflow Solutions on the Regional Center’s latest project, NYIF Soho, LLC.
The EB-5 program, created in 1990, encourages investment into projects that stimulate U.S. job growth. 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.
Some features of the NYIF Soho, LLC project include:
- 116 condominiums spanning almost a full city block in Manhattan
- An appraisal value of $763 million
- A team of top-notch architects, interior designers, and developers with experience in other major NYC projects
“By outsourcing our back-office functions to NES Financial, we were able to better focus on our project and creating jobs,” said Robert Roe, Vice President and Managing Member of NYIF. “NES Financial is the leader in the industry and having our project recognized as a Platinum participant in their Medallion Program helps our overseas agents compete for investors.”
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. The technology-enabled services provide security, transparency, and compliance for the utmost in regulatory compliance and investor confidence. 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 project success.
“The competition for EB-5 investors is significant,” said Reid Thomas, NES Financial Executive Vice President. “The NES Financial Medallion Program is recognized internationally as a symbol for projects that embrace best practices.”
About NES Financial
NES Financial is a Silicon Valley financial technology (FinTech) company providing technology-enabled solutions and services for the efficient back and middle office administration of complex financial transactions. Serving private equity, commercial real estate, and Fortune 1000 clientele, we offer industry-leading fund administration, loan servicing, specialized EB-5 administration, and 1031 tax deferred exchange services. Our unwavering commitment to data security, operational redundancy, and compliance reporting is evidenced by 11 consecutive years of successful independent audits of our technology, processes, and financial controls. Today, NES Financial services over 190 funds, administers over $75B of 1031 assets annually, and has worked with over 450 EB-5 projects. For more information, visit nesfinancial.com.
About New York Immigration Fund
New York Immigration Fund was set up to offer EB-5 program benefits in projects centered in New York City. The NYIF team has over 35 years of experience in all aspects of real estate ownership, management, development, construction, investment, syndication, and funding. With this range of experience, the Regional Center is able to closely supervise each real estate development project to make sure it successfully moves from inception to completion. For more information, visit nyifund.com.