Civitas Files I-956F to Approve San Diego Equity Fund Project in California
Txylo.com/10283494

DALLAS, Aug. 6, 2024 ~ Dallas-based alternative investment manager, Civitas Capital Group, has announced its filing for I-956F approval from the United States Citizenship and Immigration Services (USCIS) for an EB-5 project in San Diego, California. This approval is a crucial first step towards the approval of each EB-5 investor's I-526E petition.

The project in question is a 76-unit, Class A multifamily community located in the North Park neighborhood of San Diego. With one of the highest concentrations of 25- to 34-year-olds in the city, North Park boasts a variety of walkable amenities and easy access to downtown and major employment hubs. The total EB-5 investment size for this project is $14.4 million, with room for 18 investors. The project aims to return capital to investors by Q4 of 2027.

"We are extremely excited to bring this deal to the San Diego market," said Jorge Adler, Director of Investments for Civitas and lead on the project. "San Diego is a supply-constrained market with what we believe are very positive long-term demand drivers. We are particularly thrilled about delivering this project in one of the most desirable submarkets of San Diego at a time when few other properties are scheduled to open. It's a win for the community and a win for Civitas."

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Unlike most EB-5 offerings currently available in the market, which are typically structured as debt with low upside potential, this project is structured as an equity offering. Jeff Kiser, Director and Head of EB-5 Investor Relations for Civitas, believes this will make it stand out among other opportunities in the market.

"Most EB-5 investment opportunities in today's market require investors to lock in substantial funds for five years or longer," Kiser explains. "In contrast, Civitas sees the San Diego project as a unique opportunity within the EB-5 sector."

Civitas Capital Group is known for offering niche opportunities in U.S. real estate and has a strong track record of successful projects. With the filing for I-956F approval, the company is one step closer to bringing this exciting project to fruition in the vibrant city of San Diego. Investors can look forward to being a part of a thriving community and potentially seeing returns on their investment by Q4 of 2027.

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