Business Wire news release:
BEVERLY HILLS, Calif. & MIAMI–(BUSINESS WIRE)–NMS Capital Group, LLC, a Beverly Hills, California based multi-disciplined global financial services firm today announced that NMS Capital Securities, LLC (“NMS Securities”), its SEC and FINRA registered broker dealer affiliate, has been engaged as the exclusive financial advisor by RCI Group in connection with the first phase of its 2.8 million square foot, mixed-use, urban-oriented waterfront project, Steelpointe Harbor located in Bridgeport, Connecticut.
Steelpoint Harbor, is a public-private partnership between the City of Bridgeport and the developer, Bridgeport Landing Development, LLC, an affiliate of Miami based, RCI Group. When completed, Steelpointe Harbor will have approximately 800,000sf of retail space, 200,000sf of commercial/office space, 300,000sf of hotel/meeting space, a new 250-slip marina and approximately 1,500 residential units.
NMS Securities has been engaged as the financial advisor for phase one, which comprises of $190 million in financing of which $73 million will be funded through a New Commercial Enterprise Fund, Steelpointe EB-5, LLC, which shall be funded through a REG D/REG S private placement utilizing the United States Employment Based Fifth Preference Immigrant Visa Program (the federal EB-5 Program). In addition, NMS Capital Asset Management, Inc., an SEC Registered Investment Advisor, has been engaged as the Investment Advisor to the Steelpointe EB-5 Fund.
Trevor M. Saliba, Group Chairman and CEO stated, “It’s an honor to be part of such a monumental real estate development project which represents a true public-private partnership. With over $50 million invested to date and construction already underway to complete the development’s anchor retail tenant, which will be home to a 150,000sf Bass Pro Shops© (Outdoor World), we are confident that the Steelpointe Harbor project will be a family destination for the residents of Bridgeport and the surrounding New York-Connecticut metropolitan area.”
Robert W. Christoph, Jr., President of RCI Group said, “We are extremely proud to participate in a program that brings foreign investment to U.S. enterprises for the specific purpose of creating American jobs. It’s a way to reverse out-sourcing jobs overseas, and we have an experienced world-class team led by NMS to implement this investment, all in the interests of creating jobs in a revitalized Bridgeport, Connecticut.”
The EB-5 Program is a government sponsored program that was introduced with the Immigration Act of 1990. The program permits foreign nationals and their immediate family to earn their permanent alien visa (green card) by investing $500,000, if in a targeted employment area (TEA) experiencing high unemployment, that will create or preserve at least 10 new U.S. jobs per foreign capital investment of $500,000. These investments in Bridgeport are structured in conjunction with a licensed regional center that is approved by the United States Citizenship and Immigration Services. The application process is complex and all foreign investors should consult with an attorney for legal advice. In regard to the investment process, investments are made through private placements of REG D / REG S exempt securities. It is important to ensure that the investments are properly structured and in compliance with applicable U.S. and foreign securities laws.
About RCI Group
RCI Group, which is owned and operated by Robert Christoph, is headquartered in Miami, Florida and is ranked among the country’s leading premier waterfront developers, from Miami to Boston. Throughout its forty years of operation, RCI Group boasts a long and rich history of successful real estate development, property acquisition, asset management, property management, leasing and ownership. Through its diverse operating companies and affiliates, many real estate markets are served including residential, office, retail, mixed-use and waterfront marine specialty properties.
NMS Capital Group, LLC, through its group subsidiaries and affiliates is a global, privately held, diversified financial services firm providing investment banking, mergers & acquisitions, management consulting, asset management and wealth management services to clients throughout the United States, Asia, Europe and the Middle East.