After a long day of presentations, it was really enjoyable to attend NES Financial’s reception at Rivals Waterfront Sports Grille. In addition to watching the Sweet 16 with some delicious food and refreshing beverages, we ended up having many great conversations about 1031 exchanges and the EB-5 program. Many people understand the value of placing money in a segregated escrow account; it reinforces the importance of working with a respectable Qualified Intermediary.
For years, REITs have been using 1031 exchanges to help optimize their portfolios and preserve their equity. Having a greater degree of security during the exchange process is important now more than ever, given today’s financial environment. As an added security measure, it’s a leading practice to establish a qualified escrow account for exchange funds. This ensures that exchange funds are not prematurely disbursed to the exchanger until the exchange is complete, or until the terms under escrow agreement have been met. Escrows also ensure providing an additional layer of protection for REITs.
Interest in EB-5 industry has become wide reaching. When we first started working in the EB-5 sector, many people were not familiar with the program, and we certainly didn’t have conversations about them at REITWise. This year, people were not only familiar with the EB-5 industry, but they were exploring EB-5 funds for two development projects.
REITWise for me was very successful and the conversations I had reinforced NES Financial’s commitment to bringing increased security, transparency, and compliance to complex financial transactions.
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