NES Financial announced today that we have been selected by Western National Capital Partners to provide our leading EB-5 Escrow Administration Solution on their current remodeling project in Cleveland, Ohio.
Le Meridien, an upscale brand that became part of the Starwood family in 2005, will feature over 200 large-space rooms, an indoor parking structure, ground-floor retail space, and a trendy rooftop bar. Located within walking distance of all of the city’s main attractions, the redeveloped hotel will preserve many of the original building’s historic architectural elements.
“We were seeking experts in EB-5 escrow administration who had the proven track record and experience to handle all of the aspects of the escrow process for this high-profile project,” said Stephen Goodman, President of Western National Capital Partners. “NES Financial came highly recommended as the most experienced escrow administrator in EB-5. The strength of their experience with similar projects combined with the unique capabilities they offer through their solution were important factors in our decision-making process.”
NES Financial’s suite of EB-5 Solutions has been used on over 200 EB-5 projects, more than any other solution on the market. The combined offerings of EB-5 Escrow, EB-5 Fund Administration, and EB-5 Immigration Workflow track and manage the flow of funds and immigration documents through the entire EB-5 life cycle, from start to finish.
“EB-5 continues to grow as a viable source of funding on redevelopment projects involving well-known brands,” said Reid Thomas, NES Financial Executive Vice President. “With the benefits of the increased security, transparency, and compliance, our solution lines up perfectly for mainstream developers who wish to add EB-5 funds to their overall capital stack, as well as for investors who are looking for permanent residency through the immigration process.”
To read the full press release, click here.
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