San Jose, CA, November 12, 2015 – NES Financial announced today that it has been selected by Watercrest Senior Living Group to provide its leading EB-5 Fund Administration Solution for the company’s latest project, Pelican Landing Assisted Living and Memory Care. NES Financial’s Intelligent EB-5 Solutions have been used on more than 400 projects, representing over $16 billion in capital.
The EB-5 visa program, created in 1990, encourages investment into projects that stimulate U.S. job growth, while providing an opportunity for foreign nationals to become lawful permanent residents. While relatively obscure in early decades, recent years have seen exponential growth in the use of this capital by developers in projects of all types and sizes, making it a now mainstream part of their capital stacks.
The country is experiencing a need for more senior living facilities, and EB-5 capital is being widely utilized in these types of developments. One of these facilities, Pelican Landing Assisted Living and Memory Care, is an 89-unit community in Sebastian, Florida. Located by the Sebastian River Medical Center, Pelican Landing will feature licensed nurses on site 24/7.
“NES Financial was the obvious choice when it came to finding a third party for our EB-5 fund administration needs,” said Joan Williams, Principal and Chief Financial Officer of Watercrest Senior Living Group. “Their unique portal with 24/7 access allows investors to track their funds at any point, and daily reporting allows us to always know everything that is going on in the project at all times.”
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. Each solution provides security, transparency, and compliance for the utmost investor confidence in a project. 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 doing what they do best.
“The use of third party fund administrators in EB-5 is considered a best practice and is something commonly seen in the administration of traditional investment funds,” said Reid Thomas, NES Financial Executive Vice-President. “NES Financial has developed technology and expertise to handle the complex fund administration needs involved with an EB-5 project, allowing issuers to focus on doing what they do best.”
About NES Financial
NES Financial provides technology-enabled services for the efficient middle and back office administration of highly specialized financial transactions. Our custom solutions include EB-5 administration, 1031 exchanges, and fund administration services. Many of the world’s largest financial institutions and corporations rely on our proprietary technology, unparalleled expertise, and outstanding services to ensure the secure, transparent, and compliant management of funds. Recognized by Artisan Business Group as the 2013 EB-5 Service Provider of the Year and by Inc. Magazine’s 500|5000 as one of the fastest growing private companies in America two years in a row, NES Financial helps companies lower operational costs, reduce risk, and improve ROI. For more information, visit nesfjtc.wpengine.com.
About Watercrest Senior Living Group
Watercrest Senior Living Group specializes in the development and operations of assisted living and memory care communities. Partnering with a wide variety of stakeholders, such as land owners, real estate developers, investors, financial institutions, and REITs, Watercrest Senior Living Group focuses on its core strengths – operations management of assisted living and memory care communities and the development of servant leaders. For more information, visit watercrestslg.com.