NES Financial is a name recognized worldwide, which lends credibility to the project and makes it stand out to investors, who value third-party fund administration. We appreciate the transparency that NES Financial’s Solution Suite affords us.
SAN JOSE, Calif (PRWEB) October 26, 2017
NES Financial today announced that Driftwood Acquisitions and Development (DAD) has selected their Intelligent EB-5 Solution Suites to support its latest project, a dual-branded Hilton property under development in Fort Lauderdale, Florida. The project will utilize NES Financial’s full range of Capital, Process, and Accounting Administration Suites, which are designed to help developers raise and deploy EB-5 capital more quickly, to minimize risk, and to streamline project efficiency.
The EB-5 program, created in 1990, encourages foreign investment into projects that stimulate U.S. job growth. Once relatively obscure, in recent years there has been an exponential rise in the use of EB-5 capital in projects of all types and sizes. NES Financial’s Intelligent EB-5 Solutions have been used on more than 550 projects, representing over $20B in EB-5 capital — more than any other service provider on the market.
Use of these EB-5 Solution Suites has earned the DAD development an NES Financial “Platinum Medallion,” signifying the project’s commitment to industry best practices and to providing investors with the highest levels of security, transparency and compliance.
The 218-room Home 2 Suites/Tru property is currently under construction in Fort Lauderdale’s trendy Flagler Village neighborhood, which has grown into an energetic hub for the city in recent years. The area is home to art galleries, breweries, and fine dining, as well as startups and other creative businesses, and has quickly become a destination for millennials — the hotel’s intended customer base. $11 million of the project’s development budget is reserved for EB-5 funding.
“DAD has used NES Financial’s services on a number of EB-5 funded projects in the past,” said Alejandro Navia, sales and marketing director, announcing the latest contract. “The more that we let them handle, the more we can focus on our core strength — developing world-class properties in key industrial markets. NES Financial is a name recognized worldwide, which lends credibility to the project and makes it stand out to investors, who value third-party fund administration. We appreciate the transparency that NES Financial’s Solution Suite affords us.”
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. 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 EB-5 market is maturing, and investors now expect more robust oversight and transparency than ever before,” said Reid Thomas, NES Financial executive vice president. “DAD has recognized this trend for some time now — this is evidenced by their adoption of the full NES Financial EB-5 Solution Suite for yet another project. We’re looking forward to providing their Flagler Village investors with the industry’s best in technology-enabled 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. Their technology-enabled solutions include EB-5 administration, 1031 exchanges, and private equity fund administration services.
Many of the world’s largest financial institutions and corporations rely on their proprietary technology, unparalleled expertise, and outstanding services to ensure the secure, transparent, and compliant management of funds while also lowering operational costs, reducing risk, and improving ROI. For more information, please visit nesfinancial.com.
About Driftwood Acquisitions & Development
DAD is a Miami, Florida-based company with a first-of-its-kind business model, providing the perfect vehicle for accredited investors to co-invest in institutional-quality cash-flowing hotel assets. The company finds and quickly acquires the best opportunities in the U.S. hotel market with its own capital. Once these hotels are secured and under management, DAD opens each asset to individual clients to participate, allowing the investor to build his or her own portfolio rather than investing in traditional blind pools. This eliminates risk factors and uncertainty, providing an innovative vehicle to strategically invest in hotel opportunities.
In addition to this acquisitions business model, DAD is a reputable leader in the EB-5 investor program, a government initiative to attract foreign investment to create jobs in the U.S. Through this program, DAD has helped foreign investors get their U.S. residency and created hundreds of jobs in South Florida by developing EB-5 qualified hotels.
Since launching in 2015, DAD has seen continued solid growth. The company’s portfolio today totals eleven acquisitions and four new-build developments, with a pipeline of many other diverse hotel and resort properties across the United States.