Name: Kodiak Club & Residences
Brand: Civitas Capital
Availability: false

Investment Summary

Civitas Aspen Fund, LP (the “Fund”), will partially finance the development of the Kodiak Club, 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.

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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 $35.2MM, accommodating 44 investors.

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Target Key Terms and Capital Structure

Total Capitalization

$69.3MM

Senior Loan

Up to $30.4MM in Mezzanine Loan

Number of Investors

38¹

Estimated Job Creation

468¹

Visa Category

Rural

Senior Loan Term

5 years (with two

12-month extension options)

Exit Strategies

Sale or post construction recapitalization

1. 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. 2. Realty Capital investment opportunity equity package Renderings are subject to change. This information 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.

Opportunity Highlights

Exclusive Location

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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 Kodiak Club will enjoy stunning views of the snow-capped Rockies and direct access to the trail around Kodiak Ski Lake.

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Attractive Demographics

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The Kodiak Club 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.³

Experienced Regional Center Operator

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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.

3. 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 location

Basalt, Colorado

Colorado – All-Season Adventures

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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, Colorado

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‍No. 1 Ski destination in the U.S., for leisure skiing and expert skiing in particular⁴‍
32 Ski resorts, including 4 in Aspen⁵‍
4 National Parks – Rocky Mountain, Mesa Verde, Great Sand Dunes, and Black Canyon of the Gunnison⁶‍
$21.9B Tourism spending in 2021 (up 41.8% from 2020)⁷‍
84MM Visitors in 2021 (up 13.6% from 2020), including 36MM overnight visitors⁷

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_{4. Colorado.com, “Snow’s Perfect State: 5 Reasons to Ski & Snowboard in Colorado,” March 22, 2022. 5. Source: Uncover Colorado, “Rundown of 32 Ski Resorts in Colorado,” September 23, 2022. 6. Colorado.com, January 22, 2023. 7. 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.}

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Local Attractions⁸

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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.

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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.

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

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

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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 Kodiak Club building.

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_{8. Realty Capital investment opportunity package.}

A Trusted EB-5 Investment Firm

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.

$480MM+

Returned to eligible EB-5 investors

1,700+

EB-5 investors served globally

50+

EB-5 funds successfully raised

50+

Relationships with investors in 50+ countries

1,200+

I-526 / I-526E approvals

100%

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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Kodiak Club & Residences

A Rural EB-5 Investment Opportunity

Investment Summary

Target Key Terms and Capital Structure