NES Financial announced today that it has been selected by Golden Opportunity Regional Center to provide its institutional quality EB-5 administration solution for the Regional Center's latest project, Grover Beach Resort, in Grover Beach, California.
Grover Beach Resort, a Public-Private Partnership between Pacifica Companies, in coordination with the State of California Department of Parks and Recreation and the City of Grover Beach, is slated to be an ocean adjacent 144-room boutique hotel with a full-range of upscale-resort amenities. Development of the project is being led by Pacifica Companies, a leading developer of hospitality properties across 22 states in the United States.
As our third-party administrator, NES Financial is an important contributor to investor confidence," said Emma Chen, Golden Opportunity Regional Center's Project Manager of China Commerce. ?A great example of this is their Investor Portal and the kind of financial information and transparency it provides our investors."
The demand for third-party administration as a best practice in EB-5 continues to increase, reflecting the overall trend in Private Equity," said Reid Thomas, NES Financial Executive Vice President. ?Our EB-5 administration solutions efficiently handle the complex capital 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 provide industry-leading escrow administration for the project's $12.5 million EB-5 capital raise.