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Current EB-5 Project

Civitas Santa Monica Promenade Fund, LP

An EB-5 Investment Opportunity in the Greater Los Angeles Area

Project Summary

Civitas Santa Monica Promenade Fund, LP (the “Fund“), will partially finance the development of a 24,988-square-foot, four-story, Class A mixed use building (the “Project“) at 1404 Third Street Promenade in Santa Monica, the leading retail and office submarket in Los Angeles, California.

The Project is located within a Targeted Employment Area (“TEA”) and therefore qualifies for the $800,000 minimum EB-5 investment. Total EB-5 investment size is $10.4MM, accommodating 13 investors.

Target Key Terms and Capital Structure1

Total Capitalization $53.1MM
Senior Loan $27.4MM with $10.4MM in EB-5
Number of Investors 13
Estimated Job Creation 158
Visa Category TEA
Term 3 years (with one 12-month extension option)
Exit Strategies Sale or post-construction recapitalization
Projected Exit Value $66.5MM

1404 Third Street Promenade, Front2

1. Key terms, capital structure, and amounts are current estimates, as of May 31, 2023, and are subject to change. 2. Source: Reed Architectural Group, Inc., as of June 2023. Renderings are subject to change. This document is provided on a confidential basis and does not constitute an offer or recommendation to sell, or solicitation of an offer to buy, any securities, investment products, or investment advisory services. Such an offer may only be made to qualified investors via delivery of a formal confidential private placement memorandum or equivalent materials that describe the material terms. This information is intended exclusively for the use of the recipient and is not to be reproduced or redistributed to any other person without the prior consent of Civitas Capital Group.

Project Presentation

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About Civitas

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Project Location: Santa Monica, California

Los Angeles is one of the most vibrant city on America’s west coast, Los Angeles holds significance as a global hub of entertainment, culture, and innovation, shaping trends and aspirations that resonate worldwide.

  • 18.77MM1 MSA Population,
    2nd-most-populous MSA in the U.S.
  • $1.1 trillion2 GDP,
    2nd-largest in the U.S.
  • Home to the 2 largest ports3 in North America
  • 46.2MM4 visitors in 2022
  • $35 psf5 average retail rent,
    46% higher than the national retail average

1. Source: U.S. Census Bureau, “Metropolitan and Micropolitan Statistical Areas Population Totals and Components of Change: 2020-2021”, June 18, 2022. 2. Source: Bureau of Economic Analysis (BEA), “Gross Domestic Product by Country, 2021”, December 8, 2022. 3. Source: Shipa Freight, “10 Largest Ports in North America”, January 6, 2023. 4. Source: Los Angeles Times, “L.A. tourists are (mostly) back—except some of the biggest spenders”, May 4, 2023. 5. Source: CoStar, Santa Monica, CA, Retail Submarket Report, and and Los Angeles, CA, Retail Market Report, as of June 2023.

Santa Monica blends the sophistication of an international coastal city with the laid-back vibe of a California beach town.

  • 93.1K Residents1
  • 5.3MM Annual Visitors, 21% from Abroad1
  • $961.7MM From Tourism1

Named a Top 10 Beach in the world in 2017 by2

1. Source: All statistics from Santa Monica Travel & Tourism, 2022 Santa Monica Tourism Economic & Fiscal Impacts and Visitor Profile Summary
2. Source: National Geographic, Top 10: Beaches, 2017.

Third Street Promenade is the premier shopping district in Santa Monica, favored by many Hollywood celebrities since its inception in 1965.

  • 3 vehicle-free, open-air city blocks offering an array of outdoor retail, dining, and entertainment venues
  • 3.9MM average visitors per year1
  • $240/SF+ retail asking rents on record2
  • 238% higher retail rents than the Santa Monica submarket average2
  • 586% higher retail rents than the L.A. Metro market average2

1. Source: Sonnenblick-Eichner Company, 1404 Third Street Promenade Financing Memorandum, as of 2022. 2. Sources: CoStar, Santa Monica, CA, Retail Submarket Report, and Los Angeles, CA, Retail Market Report, as of June 2023.

Regional Center Operator and Asset Manager

  • Regional Center Management
    Civitas has managed regional centers nationwide for over a decade and has served over 1,400 investors from more than 40 countries. The Firm applies institutional-quality financial analysis to ensure selection of high-quality investments that fully comply with EB-5 job creation requirements.
  • Disciplined Execution
    Civitas is vertically integrated to ensure proper execution at every step of the investment process. Team members include construction professionals, developers, and equity and debt investment specialists.
  • Development & Construction Management
    Civitas has experience in all aspects of the development and construction process. The development team has an average of over 22 years of experience.1
  • Asset Management
    Civitas’ in-house investment team oversees every investment from start to finish – deal sourcing, asset management, disposition – and seeks to maximize its value through hands-on decision making and deep market knowledge. The team will manage the investment.

1. As of September 2023.

Project Timeline1

1. Project timeline is subject to change. 2. Source: Reed Architectural Group, Inc., as of June 2023. Floor Plans are subject to change.

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