NES Financial announced today that Epelboim Development Group (Epelboim) has selected NES Financial’s suite of EB-5 solutions for the new Tru by Hilton hotel project in Orlando, Florida. Epelboim 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 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 EB-5 Solutions have been used on more than 650 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 Tru 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 Orlando Tru by Hilton will be located next to the Orlando Convention Center, and is on track to open in 2019. Epelboim Development Group plans to accept $16 million of EB-5 investment in the Tru property, toward a nearly $40 million total capital raise.
“Working with an administrator as robust and respected as NES Financial adds credibility to our project,” said Noel Epelboim, CEO and President of Epelboim Development Group. “It’s a great benefit to our investors to see the status of their investments in real time via the NES Financial Portal. And the third-party validation of an independent entity reassures them that their money is secure and being handled properly.”
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.
“When it comes to EB-5 funding, there’s never been a time of greater competition for investor dollars,” said Reid Thomas, Executive Vice President & General Manager at NES Financial. “Medallion Platinum projects are attractive to investors looking for the utmost in EB-5 security, transparency and compliance. This recognition can be a key differentiator in this competitive market environment.”