NES Financial announced today that it has been selected by Florida Equity and Growth Fund Regional Center to provide its leading EB-5 Escrow Administration Solution on the Regional Center’s current development in Tampa, FL.
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 in projects of all types and sizes. Commercial real estate developers in particular have gravitated strongly toward low-cost EB-5 money, frequently making it a standard part of their capital stacks.
The need for senior living facilities across the United States has increased dramatically in recent years, with Florida being one of the largest markets because of the warm weather and low taxes, which appeal to retirees. Tampa Oaks Senior Living is the sixth EB-5 project completed by the Regional Center.
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