All investor funds are deposited in Escrow Accounts and releases for property investment only after the Minimum Capital Raise is achieved based on the Project Private Placement Offering and other project contingencies are satisfied as set forth in the Offering Documents.
Property Specific Escrow Accounts will be maintained at the following financial institutions:
SunTrust Banks, Inc., is an American bank holding company and its largest subsidiary is SunTrust Bank. It had US$175 billion in assets as of December 31, 2013. SunTrust Bank's most direct corporate parent was established in 1891 in Atlanta, where its headquarters remain.
SunTrust operates 1,497 bank branches and 2,243 ATMs across Southern states, including Alabama, Arkansas, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia, and Washington, D.C.
SunTrust has a long-standing relationship with The Coca-Cola Company. The Trust Company of Georgia helped underwrite the initial public offering of The Coca-Cola Company in 1919. As a result, the bank received some of Coke's publicly traded stock, and SunTrust retains 48.3 million shares (3.58%) of Coke as of 2006. This stake is worth approximately $2 billion and pays $59 million a year in dividends. In addition, the original copy of the formula for Coca-Cola is stored in a safe deposit box of a SunTrust location in Atlanta
On Sept. 16, 2014, the Atlanta Braves announced the name of their new Cobb County stadium: SunTrust Park. SunTrust Park, which is expected to be unveiled in time for the first pitch of the 2017 season, will serve as the new home of the Atlanta Braves. The $1.1 billion construction project in Cobb County will include restaurants, shops, offices, a hotel and residential spaces directly connected to the park.
Citigroup Inc. or Citi is an American multinational banking and financial services corporation headquartered in Manhattan, New York City. Originally called City Bank of New York, Citi was formed in 1812, allowing New York to compete with Boston, Baltimore and Philadelphia for the nation's business. In 1904, at the request of President Theodore Roosevelt, Citi played a central part in financing the Panama Canal — encouraging international trade and expanding the global economy. After World war II, Citi played an important role in rebuilding Europe through the Marshall Plan by arranging commercial letters of credit for shipments to countries receiving aid. In 1977, Citi pioneered the first ATM in Queens, N.Y. Today, 90% of the world's population is within a 15-minute walk of an ATM, and Citi operates over 26,000 ATMs around the world. In 1998, Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group. In 2015, it was the third largest bank holding company in the US by assets with the largest shareholders from the Middle East and Singapore. At its height, Citigroup was the largest company and bank in the world by total assets with 357,000 employees. Citigroup had the world's largest financial services network, spanning 140 countries with approximately 16,000 offices worldwide holding over 200 million customer accounts. In 2011, Citi teamed up with Google and MasterCard PayPass® to pioneer Google Wallet.
Today, Citi d is one of the Big Four banks in the United States. It operates four geographical business lines — Branded Cards, Retail Services, Retail Banking and Commercial Banking — in Citi's four regions: Asia; Europe, the Middle East and Africa (EMEA); Latin America; and North America. Generating nearly half of its revenues outside of North America, the bank focuses on 100 cities in the U.S. and top emerging markets with the highest growth potential.
Wells Fargo & Company is an American multinational banking and financial services holding company which is headquartered in San Francisco, California. It is the largest bank in the world by market value, the second largest bank in deposits, home mortgage servicing, and debit cards and the fourth largest bank in the U.S. by assets. Wells Fargo is ranked 10th among the Forbes Global 2000 and the 30th largest company in the United States according to Fortune 500. /p>
With irs origin as a courier company in the 1800s, Wells Fargo became a San Francisco bank in 1905 and a northern California regional bank with branch offices by 1960. .In the 1980s, Wells Fargo expanded into a state-wide bank and became the seventh largest bank in the nation — and launched its online banking.Today, Wells Fargo operates across 35 countries and has over 70 million customers globally. In 2012, it had more than 9,000 retail branches and over 12,000 automated teller machines in 39 states and the District of Columbia. In July, 2015, Wells Fargo became the world's largest bank by market capitalization. In February 2014 Wells Fargo was named the world's most valuable bank brand for the second year running in The Banker and Brand Finance study of the top 500 banking brands.
Bank of America (abbreviated as BofA) is an American multinational banking and financial services corporation headquartered in Charlotte, North Carolina. It is the second largest bank holding company in the United States by assets. In 2010, Forbes listed Bank of America as the third biggest company in the world. In 2013, Bank of America was the twenty-first largest company in the United States by total revenue.
The bank's 2008 acquisition of Merrill Lynch made Bank of America the world's largest wealth management corporation. The company, which held over 10% of all bank deposits in the United States in recent years, is one of the Big Four banks in the United States. It has a retail banking footprint that serves approximately 50 million consumer and small business relationships at 5000 banking centers and 16,000 ATMs.
RBC Royal Bank, one of Canada's largest banks and one of the largest banks in the world, based on market capitalization, was the United States-based retail banking division of the Royal Bank of Canada. The headquarters for the bank were in Raleigh, North Carolina. Banking centers and automated teller machines were located throughout the Southeastern United States. The company's largest operations were in North Carolina and Alabama.
The Royal Bank of Canada acquired RBTT Financial Group a decade ago creating RBC Financial Caribbean, one of the most extensive banking networks in the Caribbean.
Today, as one of the Caribbean’s leading diversified financial services companies, RBC Royal Bank provides personal and commercial banking, wealth management, corporate and investment banking, insurance and trust and asset management services to a wide range of clients, including individuals, small businesses, general commercial entities, regional and multi-national corporations and governments.
With more than 100 years of heritage serving the region, RBC offers customers access to an expanded network of international financial services with a broader range of products and greater geographic reach.
Fund America/Bank of Internet USA
Fund America provides third party escrow services in Compliance with SEC Rule 15c2-4 and ACH Funds Transfer. The firm handles investment funds via ACH, wire and check, and utilizes California based Bank of Internet USA, a fully insured, publicly traded online bank, for domiciling investor escrow accounts.
It offers a full line of consumer products, including checking and savings accounts, exclusively over the Internet.Bank of Internet USA offers a full line of consumer products.It uses most of those deposits to make home loans and to finance the purchase of multifamily housing through its Apartment Bank division.
Bank of Internet USA was founded in 1999 which made the California bank one of the first in the world to offer services over the Internet.Savings are federally insured up to $250,000 by the Federal Deposit Insurance Corp.The Bank has $1.5 billion in total assets (the total value of all its loans, investments, real estate and other holdings) and just over $1 billion in deposits. The Bank of Internet USA is solidly profitable, and its return on assets is slightly ahead of the industry average.
The Bank has earned a strong four out of five stars from Bankrate’s “Safe & Sound” system, which evaluates banks on such things as asset quality, profitability and liquidity.Bank of Internet USA also enjoys a top A+ rating from the Better Business Bureau in southern California.