DALLAS, July 5, 2023 /PRNewswire/ — Civitas Capital Group, a Dallas-based alternative investment manager offering niche opportunities in U.S. real estate, announced the firm recently received its I-956F receipt notice from USCIS for one of its newest EB-5 offerings, the Civitas Aspen Fund, LP. This receipt notice now opens this rural investment to accept new EB-5 investors.
The Civitas Aspen Fund, LP, project is a new development called Terraces at Tree Farm, a 72-unit, Class A active adult community in a rural Targeted Employment Area in Basalt, Colorado. By qualifying as a rural project, the Civitas Aspen Fund, LP allows investors to get access to set-aside visas and priority processing under the EB-5 Reform and Integrity Act of 2022.
USCIS, the government agency that oversees EB-5 program compliance, requires all EB-5 investment opportunities to submit an I-956F prior to an EB-5 applicant submitting their immigrant petition.
“This is fantastic news for EB-5 investors looking to take advantage of priority processing,” says Jeff Kiser, Director and Head of EB-5 Investor Relations for Civitas. “We are excited to sponsor an investment opportunity that both qualifies as rural and meets our institutional guidelines. The Aspen area has become a playground for the rich and famous, and as a result is one of the most expensive places to live in the United States. Because of this dynamic, we were able to find an EB-5 multifamily project located in an area that has maintained a low enough population to qualify as rural, while still supporting significant economic activity and demand for new housing. It’s a win-win-win.”
You can find out more information about the EB-5 program at civitaseb5.com.
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. Learn more at civitascapital.com.
SOURCE Civitas Capital Group