Civitas Capital Group, a Dallas-based alternative investment manager offering niche opportunities in U.S. real estate, today announced it has closed a $150 million senior loan to finance construction of a 210-room Curio Collection by Hilton hotel on the island of Kauai, Hawaii.
Civitas is providing the senior loan to affiliates of Silverwest Hotels and its institutional equity partners.
In this challenging real estate debt capital markets environment, Civitas’ bridge lending platform continues to provide borrowers access to capital for acquisition, refinance, and construction opportunities where banks, life insurance companies, the conduit market, and other traditional sources of commercial real estate financing may be unavailable.
Situated on approximately 8.5 acres, within a master‐planned, 450‐acre oceanfront luxury resort community, the property will include a three‐meal restaurant, the pro shop for the 18‐hole Jack Nicklaus Ocean Course at Hokuala, an outdoor pool, 27,000 square feet of interior and outdoor meeting and event space, and a fitness center. This will be Hilton’s second branded hotel on the island.
“With the project’s institutional capital backing, experienced sponsorship, and high barrier to entry location, this financing opportunity matches the strategic vision of our bridge lending program,” said Austin Khan, Managing Director of Investments for Civitas. “We continue to focus on the growth of our platform with over half a billion of closed or currently in-process transactions over the past 12 months.”
The resort is in Lihue on the island of Kauai, the oldest of the main islands and a tropical vacation gem known for its seclusion and lush landscapes. The island has seen lodging market performance surpass pre-pandemic levels in 2023, the year Travel + Leisure magazine readers voted it their favorite Hawaiian Island.
“We strive to be great lending partners to the hospitality industry,” says Marisa Lizak, Managing Director of Investments for Civitas. “As both an equity investor in hotels as well as a debt capital provider to the market, we are able to understand the unique challenges of the asset class and structure financing solutions that fit the needs of institutional hotel owners.”
ABOUT CIVITAS CAPITAL GROUP
Civitas Capital Group is a nimble alternative investment manager, founded in 2009, offering compelling, niche opportunities in U.S. real estate. Civitas exists to create opportunities that enrich our communities, investors, and employees alike. Driven by relentless creativity, Civitas digs deeper to uncover opportunities that others miss. Follow Civitas Capital Group on LinkedIn.
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