Civitas Aspen III, LP
Harvest Village, a Rural EB-5 Investment Opportunity
Land Development
$79.7MM
$44MM with $24.8MM
in EB-5 funding
311
383.61
Rural
4-year term
Land sales for single family,
multifamily, townhome, and
commercial development
1. Job creation estimates are calculated by an independent, third-party econometric consultant (Baker Tilly) using the IMPLAN model – an input-output modeling tool used to measure the economic and employment impacts of development projects across regional economies. IMPLAN is one of the modeling tools recognized by U.S. Citizenship and Immigration Services (USCIS) for use in EB-5 job creation analyses. There is no guarantee that job creation projections will be achieved.
The Aspen Region is one of the most land-constrained resort markets in the U.S., with a documented shortage of 7,688 housing units needed by 2035.2
Civitas and Realty Capital Partners have partnered on two prior Aspen-region EB-5 projects, both with fast I-956F approvals. Infrastructure construction on Harvest Village began Q3 2026.3
The Fund is estimated to generate $162MM in gross lot sales revenue against a $44MM senior loan, secured by a first lien and completion guaranty.4
2. Colorado.gov, Colorado's Strong Tourism Industry Continues to Grow, Colorado Tourism Office. Aspen 2025 Housing Needs Assessment. 3. Civitas Capital Group, as of May 1, 2026. Project timeline is subject to change. 4. Based on National Valuation Consultants, Inc. (NVC) third-party appraisal as of June 12, 2026.
5. Colorado.com, Colorado Ski Resorts: Snow's Perfect State. 6. AspenChamber.org, Aspen Chamber, Skiing and Snowboarding. 7. Colorado.gov, Colorado's Strong Tourism Industry Continues to Grow, Colorado Tourism Office. 8. Cgfoa.org, U.S. Census Bureau, American Community Survey (ACS). 9. Cbrlei.colorado.edu, Colorado Business Review Leeds Economic Indicators.
From world-renowned skiing and outdoor recreation to vibrant arts, culture, culinary, and wellness experiences, Aspen delivers all this with roughly 300 days of annual sunshine.
Civitas is financing the Phase I horizontal infrastructure for Harvest Village, a 283-acre master-planned residential community in Garfield County along Highway 82 between Carbondale and Aspen. The Fund will provide a $44MM senior loan to fund critical infrastructure including a Roaring Fork River utility crossing, surface water treatment plant, sewer lift station, water storage tanks, and two CDOT-approved Highway 82 access points. The site is planned to deliver a minimum of 452 housing units across eight distinct residential neighborhoods — spanning single family, multifamily, townhome, and commercial development — with a 54-acre conservation easement preserving the Roaring Fork River corridor. The site was acquired for $31MM with residential zoning already in place, and $162MM in projected shovel-ready lot revenue represents 3.7x coverage on the Fund's senior loan.
10. Based on National Valuation Consultants, Inc. (NVC) third-party appraisal as of June 12, 2026. Project timeline is subject to change.
expected jobs to be created11
investors for the project12
of requirement expected to be satisfied12
11. Job creation estimates are calculated by an independent, third-party econometric consultant (Baker Tilly) using the IMPLAN model – an input-output modeling tool used to measure the economic and employment impacts of development projects across regional economies. IMPLAN is one of the modeling tools recognized by U.S. Citizenship and Immigration Services (USCIS) for use in EB-5 job creation analyses. There is no guarantee that job creation projections will be achieved. 12. Calculated based on 31 investors, or $24.8MM in EB-5 investments. 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.
Q3 construction start
Q1 site access, utilities, and roads underway
Q1 sale of first land pad
Q2 repayment of construction loan
13. Project timeline is subject to change.
EB-5 is our business. More than 1,700 EB-5 investors from 50 countries have trusted Civitas with their EB-5 journey since 2009. Our investors have deployed nearly $950 million in EB-5 capital with Civitas in projects valued at over $3.3 billion. To date, we have returned more than $480 million to eligible investors.
Our team guides investors through the EB-5 process with an emphasis on meeting program requirements, disciplined underwriting, and capital preservation.
Returned to eligible EB-5 investors
EB-5 investors served globally
EB-5 funds successfully raised
Relationships with investors in 50+ countries
I-526 / I-526E approvals
I-829 approval rate on adjudicated petitions
Past performance does not guarantee future results.
Data as of December 31, 2025. The 100% USCIS approval rate for Civitas-affiliated I-829 petitions referenced herein refers to petitions which USCIS has fully adjudicated as of the date hereof, and accordingly does not include petitions which:(i) have not yet been adjudicated;(ii) were voluntarily withdrawn or abandoned by the petitioner; or(iii) are in any stage of appeal from an initial adjudication.The success of Civitas-affiliated petitions adjudicated to date does not guarantee success in future cases. Founder and Chief Executive Officer Dan Healy serves on the IIUSA Board of Directors, but is not a judge. Co-Founder and Managing Director Rafael Anchia and Managing Director, Legal & Head of Investor Experience Mine Ekim both serve on the IIUSA Public Policy Committee.
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