Current EB-5 Project

Current EB-5 Project

Civitas Aspen Fund, LP

Rural EB-5 Investment Opportunity

$800,000 minimum investment

Project Summary

Civitas Aspen Fund, LP (the “Fund”), will partially finance the development of the Terraces at Tree Farm, a 72-unit, Class A active adult community (the "Project") in a rural Targeted Employment Area in Basalt, Colorado, less than a 30-minute drive from Aspen, Colorado.

The Fund is an EB-5 investment opportunity that qualifies as a rural project, allowing investors access to set-aside visas and expedited I-526E processing under the EB-5 Reform and Integrity Act of 2022. Total EB-5 investment size is $30.4MM, accommodating 38 investors.

    Front entrance3

    TARGET KEY TERMS AND CAPITAL STRUCTURE1

    1. Key terms, capital structure, and amounts are current estimates and are subject to change. 2. Underwriting estimate as of December 31, 2022. 3. Realty Capital investment opportunity equity package. 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.

    RURAL EB-5 OPPORTUNITY

    The Fund qualifies as a rural project, allowing investors access to set-aside visas and potentially faster immigration processing.

    EXCLUSIVE LOCATION

    The Project is in Roaring Fork Valley, an economic hub in western Colorado that includes communities of Aspen, Snowmass Village, Basalt, Carbondale, and Glenwood Springs. Roaring Fork Valley is home to high-income residents and world-famous tourist destinations. Residents at the Terraces at Tree Farm will enjoy stunning views of the snow-capped Rockies and direct access to the trail around Kodiak Ski Lake.

    ATTRACTIVE DEMOGRAPHICS

    The Terraces at Tree Farm will be a 55+ active adult community in Basalt, Colorado. The Project is in a primary market area (PMA) that is undersupplied and forecast to experience above average growth in demand for senior housing over the next three years.1

    1. Source: JLL Valuation Advisory Market Study Specialty Practice, Essex Tree Farm, as of October 14, 2021, which include data from ESRI (fka Environmental Systems Research Institute, Inc.) , as of 2020.

    EXPERIENCED REGIONAL CENTER OPERATOR

    Civitas has sponsored more than $700MM in EB-5 investments with a 100% EB-5 project approval rate. Civitas manages regional centers nationwide and has served over 1,400 investors and institutions from more than 40 countries since 2011.

    Project Presentation

    Download the introductory slide deck explaining the investment opportunity.

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    About Civitas

    Download an introductory deck explaining Civitas Capital and our EB-5 investment program.

    DOWNLOAD OVERVIEW

    Project Location: Aspen, Colorado

    ASPEN, COLORADO

    No. 1 Ski destination in the U.S., for leisure skiing and expert skiing in particular1

    32 Ski resorts, including 4 in Aspen2

    4 National Parks – Rocky Mountain, Mesa Verde, Great Sand Dunes, and Black Canyon of the Gunnison3

    $21.9B Tourism spending in 2021 (up 41.8% from 2020)4
    84MM Visitors in 2021 (up 13.6% from 2020), including 36MM overnight visitors4

    1. Colorado.com, “Snow's Perfect State: 5 Reasons to Ski & Snowboard in Colorado,” March 22, 2022. 2. Source: Uncover Colorado, “Rundown of 32 Ski Resorts in Colorado,” September 23, 2022. 3. Colorado.com, January 22, 2023. 4. Colorado Office of Economic Development & International Trade, Colorado Tourism Office, “Colorado’s Tourism Economy Saw Growth in 2021 According to Annual Research Reports,” July 14, 2022.

    DENVER, COLORADO

    Denver, the capital of Colorado, has the largest city park system in the USA with 205 parks in city limits and 20,000 acres of parks in the nearby mountains

    Maroon Bells, just outside Aspen, are the most photographed mountain peaks in North America

    Rocky Mountain National Park 560 kilometers of trails, great place for fishing, horseback riding, and practicing yoga

    Glenwood Springs, home to the world’s largest natural hot springs pool

    U.S. Olympic & Paralympic Museum at Colorado Springs

    Great sand dunes National Park

    Mesa Verde National Park

    Red Rocks Park and Amphitheater

    “Aspen is a life to live.”

    American singer-songwriter John Denver

    Host to the Winter X Games, Aspen boasts a collection of four ski areas: Aspen Mountain, Aspen Highlands, Buttermilk and Snowmass.

    Olympic champion, Chinese-American skier, Eileen Gu, won two gold medals at the 2021 Winter X Games in Aspen and will compete in the 2023 X Games.5

    Olympic champion, Su Yiming, will compete in the 2023 X Games in Aspen. Su and Gu train frequently at Copper Mountain, Colorado.

    1. Source: Bloomberg article, “Wall Street West is Booming in Aspen with New Crop of Elite Residents,” August 30, 2022. 2. Source: Land Title Guarantee Company single family average home prices in Aspen, first 10 months of 2021 and 2022. 3. Source: Insider.com, “I visited Aspen's most expensive neighborhood to see how its ultra-rich residents like the Bezos family live, and was blown away by the massive luxury homes,” December 29, 2022. 4. Source: Wall Street Journal, “Billionaire Walmart Heir Rob Walton Sells Aspen Land for $30.8 Million,” June 1, 2022. 5. Source: China Daily, “Gu makes X Games history with record 3-medal debut,” February 1, 2021. 2. Xinhua, “Roundup: Snowboarder Su hands China record 6th gold at single Olympics as Norway leads medal count,” February 16, 2022. 3. Source: Forbes, “How Colorado’s Copper Mountain Became The Premier Training Location For U.S. Olympic Skiers And Snowboarders,” February 4, 2022.

    LOCAL ATTRACTIONS1

    The Tree Farm will consist of restaurants with terraces on the lake, a variety of shops, 200 luxury apartments, 70 for-sale condominiums, 20,000 square feet of office space, and a 122-room Hilton Tapestry Hotel.

    Directly across Highway 82 is the Willits Town Center, which is anchored by Whole Foods and home to popular retailers including Starbucks; Four Dog Fine Wines and Spirits; Salon Terra, an Aveda Salon; Mauka Frozen Yogurt; Bristlecone Mountain Sports; and Sure Thing Burger.

    A pedestrian underpass provides a convenient passageway to cross Highway 82.

    An additional array of commercial, retail, and restaurant options including Element Hotel and the world-renowned Steadman Clinic are walking distance from the Project.

    Restaurants, skiing, retailers, and activities in nearby Aspen and Glenwood Springs are easily accessible by Roaring Fork Transportation Authority (RFTA) express bus, whose bus stop is in front of the Terraces at Tree Farm building.

    Source: Realty Capital investment opportunity package.

    Project Location Demand Drivers:

    • Roaring Fork Valley is an economic hub in Western Colorado that includes communities of Aspen, Snowmass Village, Basalt, Carbondale, and Glenwood Springs.
    • The Terraces at Tree Farm Project is in Basalt, Colorado, within the Tree Farm 43-acre mixed-use development off Highway 82, less than 20 miles from Aspen.
    • Highway 82 is the region’s only road between Glenwood Springs and Aspen.
    • The Terraces at Tree Farm Project has one of the few express bus stops on Highway 82, located directly in front of the building, allowing residents to conveniently travel to ski towns for work or recreation.
    • The Roaring Fork Transportation Authority (RFTA) provides commuter bus services from Aspen to Glenwood Springs and ski shuttle services to the four Aspen ski resorts.

    1. Source: Realty Capital investment opportunity package.

    Above-Average Senior Housing Demand

    POPULATION AND INCOME1

    THE MAJORITY OF THE PROJECT’S TENANTS ARE EXPECTED TO BE DRAWN FROM A 25-MILE RADIUS FROM THE PROJECT SITE

    • The Primary Market Area (PMA) for any form of rental real estate property is defined as the area from which a majority of the project’s tenants will be drawn.
    • Considering physical barriers, population density, commuting patterns and drive times, and the lack of competitors, the concluded primary market area (PMA) for the Project is within a 25-mile radius from the site in Basalt, in a three-county region – Garfield, Eagle, and Pitkin counties – that experiences above-average population growth and above-average income levels.

    1. Source: JLL Valuation Advisory Market Study Specialty Practice, Essex Tree Farm, as of October 14, 2021, which include data from ESRI (fka Environmental Systems Research Institute, Inc.) , as of 2020.

    UNMET HOUSING DEMAND1

    12.2 - THE NUMBER OF ADDITIONAL COMMUNITIES LIKE OUR PROJECT THE PMA NEEDS TO MEET ITS PROJECTED EXCESS HOUSING DEMAND IN 2024

    The primary market area (PMA) is forecast to experience above-average growth in demand for senior housing.

    The only active competitor, Sopris Lodge Carbondale, opened in July 2021, is a 12-min drive away, and is reportedly 100% occupied with a waitlist.

    HIGH BARRIERS TO ENTRY LIMIT COMPETITIONS

    • Residential zoning is extremely difficult to be approved. The entitlement of the Project took over 10 years to obtain. There are no other significant multifamily sites zoned in the Roaring Fork Valley.2
    • High cost of land and construction
    • Shortened construction season due to weather
    • Limited availability of vacant sites

    1. Sources: JLL Valuation Advisory Market Study Specialty Practice, Essex Tree Farm, as of Jan 31, 2023. 2. Realty Capital Residential, The Terraces at Tree Farm Marketing Memorandum, as of January 6, 2023.

    SENIOR POPULATION GROWTH1:

    • Baby Boomers (post-World War II babies) began turning 65 in 2011. By 2030, the remainder will also reach age 65 and account for approximately 21% of the total United States population.
    • By 2050, the 65+ age group is estimated to exceed 85.6 million, a more than 50% increase over its estimated 2020 population (56.1 million).
    • The same figure for 85+ group is even higher. By 2050, the 85+ age group is estimated to exceed 18.5 million, a 177% increase over its estimated 2020 population (6.7 million).
    • Additionally, by 2035 the 65+ age group is estimated to be larger than the population under age 18. By 2035, there will be 78 million people 65 years and older compared to 76.7 million under the age of 18.
    • The projected growth in the senior population will present many challenges to policy makers and programs by having a significant impact on families, businesses, healthcare providers and, most notably, on the demand for senior housing.

    1. Source: JLL Valuation Advisory Market Study Specialty Practice, Essex Tree Farm, as of October 14, 2021, which include data from ESRI (fka Environmental Systems Research Institute, Inc.) , as of 2020.

    Project Timeline1

    Building plans and County permit review have already been completed, which will significantly expedite the start of construction.2

    1. Project timeline is subject to change. 2. Source: Realty Capital investment opportunity package. Renderings are subject to change.

    Job Creation1,2

    10 Jobs required per investor

    40 Investors for the Project

    400 Total jobs required

    498 Expected jobs to be created

    125% Of job requirement expected to be satisfied

    91% Of jobs created expected from construction

    1. Capital structure, investment size, and job requirement are current preliminary estimates and subject to change. 2. Job creation estimates are calculated by an independent, third-party econometric consultant using RIMS II, Regional Input-Output Modeling System. RIMS II is a tool provided by the Bureau of Economic Analysis (BEA) to help economists and researchers analyze the potential impacts of economic activities on regional economies.

    LEARN ABOUT YOUR ELIGIBILITY

    Schedule a free consultation with our team of EB-5 investment and immigration experts today. We will assess if you are a good candidate and will guide you through the EB-5 process.

    Civitas Aspen Fund Form

    Learn About Your EB-5 Eligibility

    ARE YOU A GOOD FIT FOR THE EB-5 PROGRAM? Schedule a free consultation with our team of EB-5 investment and immigration experts today. We will assess if you are a good candidate and will guide you through the EB-5 process.

    You must have and annual income in excess of $200,000, or joint annual income with your spouse in excess of $300,000, in each of the last two years and expect to reasonably maintain the same level of income AND/OR have a net worth in excess of $1 million, either individually or jointly with your spouse, not including my primary residence, to qualify for this program.

    You must make a minimum investment of $800,000 to qualify for the EB-5 program as an immigrant investor.

    This website and the information contained herein is intended only for United States persons currently located in the United States.