Wednesday, June 12, 2024

CIVITAS CAPITAL COMPLETES SALE OF MEZZO DALLAS MULTIFAMILY DEVELOPMENT

DALLAS, May 11, 2023 /PRNewswire/ — Civitas Capital Group, a Dallas-based alternative investment manager, has completed the sale of the luxury, high-design rental property Mezzo Dallas to Harbor Group International.

Developed in partnership with ZOM Living, the residential community consists of 13 garden-style buildings with 378 units spanning 15 acres in the thriving northern suburbs of the Dallas-Fort Worth area.

“Mezzo Dallas is one more proof point of our firm’s multifamily strategy,” says Rootvik Patel, Managing Director, Investments, for Civitas Capital Group. “It perfectly illustrates our firm’s efforts to invest in development of high-quality properties in high-growth markets where demand for new residential units continues to expand.”

Mezzo Dallas broke ground in mid-2020 and was delivered in July 2022. The residential community features market-leading amenities for residents, including coworking office space, a chic lounge, resort-style pool, outdoor kitchen and dining area, game room, membership-quality fitness center with a yoga studio, a dog park and a pet spa, as well as both surface parking and private tuck-under garages.

“We’re proud that we were able to navigate the choppy waters of the real estate market during COVID-19,” says Chandler Kyser, Vice President, Investments, for Civitas. “We bet on the market and the demand we saw in North Texas, and we got an outcome that outperformed our projections. It was a win-win for everyone involved.”

Mezzo Dallas, located in Aubrey, Texas, is near several major employment nodes, which collectively house over 23 million square feet of Class A office space, including Legacy Business Park and the North Frisco Platinum Corridor. Stylish finishes, flooring and appliances occupy each residence, with some units even featuring private yards and green space. Residents are near a selection of dining, unique entertainment options, and major grocery stores. The Mezzo property is located near the 2,544-acre Fields master plan, which is home to the 600-acre PGA headquarters, luxury Omni hotel and golf resort and Universal’s future theme park.

About Civitas Capital Group
Civitas Capital Group is a nimble alternative investment manager 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.

SOURCE Civitas Capital Group

Originally published at https://www.prnewswire.com/news-releases/civitas-capital-completes-sale-of-mezzo-dallas-multifamily-development-301822576.html

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