SAN JOSE, Calif., Jan. 17, 2019 /PRNewswire-PRWeb/ -- NES Financial announced today that New Jersey–based Forte Real Estate Development, the firm behind The View at Middlesex, has selected NES Financial's suite of EB-5 solutions for the project. Forte will utilize NES Financial's EB-5 Capital, Process, and Accounting Administration Suites, which are designed to help developers raise and deploy EB-5 capital more quickly, minimize risk, and 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 the decade since the financial crisis began 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 675 projects, representing over $20B in EB-5 capital — more than any other service provider in the market.
Use of these EB-5 Solution Suites has earned The View at Middlesex 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.
Forte worked in partnership for over seven years with Middlesex Borough, the Middlesex County Improvement Authority's Economic Development Division, and the New Jersey Institute of Technology to transform this site into the largest development project Middlesex has seen in decades.
"We're pleased to be working with NES Financial on The View at Middlesex," said Fabio Di Prima, Vice President of Acquisitions at Forte. "Their track record in the industry is unmatched by any other fund administrator, and their involvement provides dual benefit: massive administrative relief to our back-end staff, as well as assurance to our EB-5 investors that their funds are secure."
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 solutions take care of the middle- and back-office administration so issuers can focus on project success.
"In today's EB-5 market, prospective investors have many choices and many projects competing for their capital," said Reid Thomas, Executive Vice President & General Manager at NES Financial. "An NES Financial Platinum Medallion shows investors that The View at Middlesex project is embracing industry best practices that safeguard their funds through the entire project life cycle."
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, NES Financial offers industry-leading fund administration, loan servicing, specialized EB-5 and Opportunity Zone Fund administration, and 1031 tax-deferred exchange services. Their unwavering commitment to data security, operational redundancy, and compliance reporting is evidenced by 12 consecutive years of successful independent audits of their technology, processes, and financial controls. Today, NES Financial services more than 190 funds, administers over $20B annually, and has worked with more than 675 EB-5 projects. For more information, visit nesfinancial.com.
About Forte Real Estate Development
Forte Real Estate Development is an impact real estate development, investment management and operations firm that invests in, repositions and develops medium- and large-sized residential properties in New Jersey.
They are based in New Jersey, giving them real-world insight into the markets in which they develop, own and operate properties. Their vertically integrated business involves repositioning and developing large-sized residential projects. They provide investors and partners with an opportunity to achieve returns by acquiring and developing underutilized assets into sustainable properties. Since 2006, they have delivered more than 2,000 apartments.
SOURCE NES Financial
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