DALLAS, July 24,
2024 /PRNewswire/ -- Civitas Capital Group, a
Dallas-based alternative
investment manager offering niche opportunities in U.S. real
estate, recently announced it has closed a $150 million senior loan to finance a 210-room
hotel, Hale Malana, a Curio
Collection by Hilton Hotels & Resorts, in Kauai, Hawaii.
"I am incredibly proud to be able to
introduce what we believe is a high-quality rural EB-5 project to
the market."
The development is classified as "rural" under USCIS's
definition of such projects, a designation highly desired by many
potential EB-5 investors.
Civitas is providing the senior loan to Silverwest Hawaii
Holdings, an established joint venture backed by affiliates of
Silverwest Hotels, Blackstone Strategic Partners Real Estate VII,
and a Goldman Sachs affiliate.
The I-956F for the project was filed in April 2024. Civitas' previous two rural projects
were approved in roughly four months and five months, with I-526E
approvals coming in as fast as 52 days.
Situated on approximately 8.5 acres, within a master‐planned,
450‐acre oceanfront luxury resort community, Hale Malana will include a three‐meal
restaurant, the pro shop for the 18‐hole Jack Nicklaus Ocean Course at Hokuala, an
outdoor pool, 2,000 SF of interior meeting space along with
substantial outdoor venues, and a fitness center.
"We are thrilled to be able to provide this financing on this
spectacular resort development," said Austin Khan, Managing Director of Investments
for Civitas. "Hale Malana is just
one part of an ongoing master planned development, and we were
delighted we could contribute financing."
The resort is in Lihue on the
island of Kauai, the oldest of the
main islands and a tropical vacation gem known for its seclusion
and lush landscapes. The island has seen lodging market performance
surpass pre-pandemic levels in 2023, the year it was named the best
Hawaiian Island by Travel & Leisure magazine.
This will be Hilton's second branded hotel on the island.
"I am incredibly proud to be able to introduce what we believe
is a high-quality rural EB-5 project to the market," says
Jeff Kiser, Director of EB-5
Investor Relations for Civitas. "On top of priority immigration
processing, our EB-5 investors will benefit from the top-notch
sponsorship, an internationally recognized brand in a premier
hospitality destination and the security of a first lien. Civitas
believes it's a wonderful opportunity for EB-5 investors."
The Sponsor is prepared to break ground in Q3 2024 and complete
construction in Q3 2026
ABOUT CIVITAS CAPITAL GROUP
Civitas Capital Group is a nimble alternative investment manager,
founded in 2009, offering compelling, niche opportunities in U.S.
real estate. Civitas exists to create opportunities that enrich our
communities, investors, and employees alike. Driven by relentless
creativity, Civitas digs deeper to uncover opportunities that
others miss. Follow Civitas Capital Group on LinkedIn. Learn more
at civitascapital.com.
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SOURCE CIVITAS CAPITAL GROUP