The Real Deal Los Angeles

EB-5 is a bonanza for banks

Smelling opportunity, large financial institutions have jumped in and made out big

April 19, 2016 08:30AM
By E.B. Solomont

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From the April issue: On a frigid day in February, more than 200 people packed into a ballroom inside the Roosevelt Hotel in Midtown Manhattan — all there to hear about the latest regulatory issues and new legislative proposals reshaping the EB-5 market.

But perhaps more telling than the day’s agenda was the event organizer: the California-based NES Financial. The financial services firm — one of the biggest, if not the biggest, player in EB-5 banking in the country — didn’t even exist until 2005. [more]