JSG Capital Advisors and Advantage America EB-5 Group Select NES Financial for Third-Party Fund Administration

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.

https://www.benzinga.com/pressreleases/17/03/p9230445/jsg-capital-advisors-and-advantage-america-eb-5-group-select-nes-financ

Mentions

• NES Financial
• Advantage America EB-5 Group
• Reid Thomas

States

• California