San Jose, CA, November 18, 2016 – NES Financial announced today that its Intelligent EB-5 Solution Suite has been selected by NY EB5 Fund for their latest real estate project, W 108 Development LLC.
Located in the Upper West Side of Manhattan, W 108 Development LLC is converting two five-story townhouses into 11 condominium units geared toward seniors 55+ that will feature a gymnasium, rooftop garden, and state-of-the-art lounge.
“With all the EB-5 projects out there being offered to investors, we wanted a way to stand out and show the advantage of our offering,” said Nimrod Ginsburg, Manager of Investor Relations for NY EB5 Fund. “As the industry leading provider of solutions built around best practices and with the highly visible Medallion Program, NES Financial was the perfect partner to set us apart and give our investors peace of mind that things are being done right.”
NES Financial’s suite of Intelligent EB-5 Solutions is designed to provide security, transparency, and compliance for the utmost in regulatory compliance and investor confidence, specifically through use of an online portal where issuers and investors can log in to view activity anytime, from anywhere. 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.
“With pending legislation, enhanced due diligence by investors, and tremendous competition, working with an independent third-party administrator has become a critical part to a project’s success in raising capital, maintaining compliance, and helping meet the immigration desires of investors,” said Reid Thomas, NES Financial Executive Vice President. “Our Medallion Program helps potential investors and their migration agents easily identify projects that embrace best practices and work with some of the industry’s top professionals.”
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 NY EB5 Fund
NY EB5 Fund focuses on EB-5 projects in the state of New York. The company partners with several other large industry giants to develop specialized projects that help create jobs and bring capital into the U.S. economy.