Civitas Capital Group, a family of specialty asset management and financial services companies, received Marriott International’s 2017 CONNECT Developer of the Year award for its consistent success working with Marriott to develop new and innovative properties in strategic locations, including dual-branded lodging.
“It is an honor to be recognized by Marriott International,” said Caroline Perel, Managing Director of Civitas Capital Group. “This award is a confirmation of the hard work everyone on the Civitas team does every day to build deep and lasting relationships with our global clients from more than 30 countries and with our industry partners. We have valued our relationship with Marriott during the past years and look forward to a long and fruitful affiliation.”
Civitas partnered with Atlantic Hotels Group to develop the dual-branded Aloft and Element Dallas Love Field hotel that opened in February 2017.
“We employed a strategy that captures two market segments, transient and extended stay travelers, and streamlines cost with no compromise to quality or amenities,” said Perel. “The project also has a creative financing structure, combining capital from a U.S. insurance company, a Chinese financial institution, City of Dallas (in the form of tax increment financing), and key money from Marriott.”
The dual-branded hotel won the 2016 Dallas Business Journal’s Best Real Estate Deals award in the Most Creative Financing category.
Civitas and Atlantic Hotels Group are also co-developing several other Marriott hotels – a dual-branded AC / Residence Inn near the Dallas Galleria, a Residence Inn west of downtown Dallas, and a SpringHill Suites in McKinney, Texas.
Other Civitas Capital Group developed Marriott hotels include five Fairfield Inn & Suites hotels in the Eagle Ford Shale and Permian Basin regions of Texas.
Marriott presented the Developer of the Year Award to Civitas Capital during the 2017 CONNECT Conference in Los Angeles, a gathering of more than 1,300 Marriott hotel owners.
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About Civitas Capital Group
The Civitas Capital Group family of companies provides a range of products and services for institutional investors, family offices and qualified individuals. Through its affiliates, the firm offers investment strategies to clients seeking exposure to the U.S. lodging and real estate market through its Alternative Investments and EB-5 Capital divisions. For more information about Civitas, please visit www.civitascapital.com or follow the company on Twitter at https://twitter.com/CivitasCG.
About Atlantic Hotels Group
Atlantic Hotels Group is a rapidly expanding hotel owner and operator with interests throughout the Dallas/Fort Worth Metroplex. Atlantic continues to embark on a strategic growth plan that compliments and supplements hotel ownership and operations. Franchisees of Marriott, Hilton, Starwood and InterContinental Hotels, Atlantic combines extensive resources and unparalleled depth and dexterity that allow the company to succeed in any marketplace. The company has a well-deserved reputation for consistently delivering a great product, great service and great results. For more information, please visit www.atlantichotelsgroup.com
The above statements do not disclose the risks and other significant aspects associated with private funds and real estate development projects. This document does not constitue an offer or solicitation to invest. Such an offer may only be made to qualified investors by delivery of a definitive confidential private placement memorandum or other similar materials that contain a description of all material terms. Marriott award based on criteria related to hotel development and management and has no bearing on any Civitas Capital Management investment in Marriott-branded hotels. Creative Financing Award related to the multiple non-traditional capital sources used to fund the hotel developement and is not specific to any investment made by Civitas Capital Management. Awards are not an indicator of future results and actual performance may vary, possibly materially, and could result in loss of principal, including total loss.
