"The demand for third-party fund administration as a best practice in EB-5 continues to increase, reflecting an overall trend in private equity."
San Jose, CA (PRWEB) March 29, 2017
NES Financial announced today it has been selected by JSG Capital Advisors LLC and Advantage America EB-5 Group to provide third-party administration on its latest EB-5 capital raise for a commercial real estate project in New York City.
The project, which is being developed by Delshah Capital, will transform five historic landmark buildings into a 205-unit luxury apartment complex located in the Morningside Heights neighborhood of Manhattan. The project is located adjacent to Columbia University, Morningside Park, St. Luke’s Hospital, and the Cathedral of Saint John the Divine. A joint venture between JSG Capital Advisors and Advantage America EB-5 Group is raising up to $49.5 million in EB-5 funds to fund a portion of the approximately $250 million total capitalization of the project.
“I’ve always felt EB-5, as an investment and funding vehicle, would be strengthened by becoming more institutionalized, with standards for tracking the flow of funds, reporting, transparency, and clear audit trails that mirror industry best practices long followed in non-EB-5 fund management and administration. Our investors deserve that. That’s precisely what NES Financial delivers, and why we’ve chosen them for third-party administration of our EB-5 fund,” explains Justin Gardinier, Founder and President of JSG Capital Advisors LLC.
“The demand for third-party fund administration as a best practice in EB-5 continues to increase, reflecting an overall trend in private equity,” said Reid Thomas, NES Financial Executive Vice President. “Our EB-5 administration solutions efficiently handle complex capital, and the accounting and process administration of an EB-5 project from start to finish, with the highest level of compliance, security, and transparency.”
Designed to help raise capital faster, reduce risk and ensure success for issuers and investors, the comprehensive NES Financial EB-5 Administration Solution will be used for the entire life cycle of the project’s EB-5 fund, providing institutional-quality practices and services, from capital and accounting administration, to documentation and process management required by the EB-5 visa program.
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 transactions annually, and has worked with over 550 EB-5 projects. For more information, visit http://www.nesfinancial.com.
About JSG Capital Advisors
JSG Capital Advisors LLC was founded in 2008 by Justin Gardinier to advise real estate owners and developers on real estate financing, investment and structuring strategy. Mr. Gardinier has over 16 years of experience in investment banking and real estate financing and investing, including a focus on sourcing and structuring cross-border capital investments. Mr. Gardinier has built and managed EB-5 platforms for both CIM Group LP and Greystone & Co., and has advised developers across the US for projects representing over $500 million in EB-5 capital.
About Advantage America EB-5 Group
Advantage America EB-5 Group (“AAEB5”) owns and operates an expanding portfolio of USCIS designated regional centers including regional centers in New York, California, Nevada, Hawaii and Seattle. AAEB5 was formed by a team of EB-5 experts who have deep experience covering all aspects of the EB-5 project cycle, from selection of the right project and the securities offering to advising investors on immigration matters. All our projects are selected with the safety of the EB-5 investor’s investment and Green Card in mind.