DALLAS, Aug. 6, 2026 /PRNewswire/ -- Civitas Capital Group recently announced the closing of a $33.6 million senior construction loan for The Lucille, a 240-unit Class A multifamily community in Fredericksburg, Texas, marking the fourth financing between Civitas and the Realty Capital family of companies founded by Richard Myers.

The Lucille is being developed by Parkspring Multifamily, a Houston- and Austin-based firm that has developed and acquired over 31,000 units representing more than $3.2 billion in total capitalization nationwide. Realty Capital Partners, a Dallas-based private real estate investment firm with approximately 30 years of operating history and a portfolio of approximately $3 billion, is the largest equity participant in the joint venture developing the project.

Civitas' relationship with Realty Capital began with Tree Farm Lofts, a 196-unit Class A multifamily community in Basalt, Colorado, developed by Realty Capital Residential. It continued with Kodiak Club & Residences, a 72-unit Class A active adult community also in Basalt, Colorado, developed by Realty Capital Residential. In June 2026, Civitas closed a $44 million senior loan for phase one of Harvest Village, a master-planned community in Colorado's Aspen region, developed by Realty Capital Management.

"Over the years, we have found Civitas to be a very reliable debt partner," said Richard Myers, Founder of Realty Capital. "They follow through on their commitments and have deep real estate expertise and experience. They have been a leader in the EB-5 industry for many years. We were quite pleased when we learned they were interested in providing a construction loan for The Lucille. It is located in an upscale tourist area in Texas and also has the benefit of gaining new residents who work in the fast-growing Austin metropolitan area. Those are two key drivers of job growth in Fredericksburg, which made The Lucille an attractive project for us."

The four financings span two states, two developer entities within the Realty Capital family, and now a transaction in which Realty Capital Partners participates as a limited partner alongside a third-party developer. Kodiak Club & Residences received Form I-956F approval from USCIS in approximately five months, and Tree Farm Lofts in approximately four months. Tree Farm Lofts completed construction in 2025, and its loan was repaid in full in July 2025. The I-956F petition for Harvest Village was filed with USCIS in July 2026.

 "We are proud of what we have accomplished with Richard Myers and Realty Capital across our first three financings, and The Lucille is a natural extension of that partnership," said Dan Healy, Co-founder and CEO of Civitas Capital Group. "A counterparty relationship we have now underwritten across four transactions represents a different credit profile for our EB-5 investors than a first-time borrower, and the results bear that out, with well-planned execution and construction delivered on schedule. This relationship now spans both sides of the capital stack and a second state, which reflects how we have built this platform over 15 years: on enduring relationships, not one-off transactions."

Like the three Colorado projects before it, The Lucille qualifies as a rural Targeted Employment Area (TEA) under the EB-5 program. Rural TEA designation enables EB-5 investors to participate at the reduced $800,000 investment level (versus $1.05 million), receive priority processing of the I-526E petition, and access the 20 percent of EB-5 visas reserved for rural projects, which may allow for faster immigration timelines and avoidance of visa retrogression.

Construction on The Lucille is scheduled to begin Q3 2026.

About Civitas Capital Group

Civitas Capital Group is a leading EB-5 regional center operator and trusted real estate capital partner. Since 2009, Civitas has invested in over 50 real estate development projects with a 100% USCIS approval rate, always anchored by the firm's core values of Focused Creativity, Institutional Stewardship, and Respect & Grace. On behalf of thousands of EB-5 investors and their families, the firm digs deeper to uncover opportunities that others miss, combining decades of underwriting experience with flexible structuring and uncompromising integrity. The result: Civitas is trusted by EB-5 investors and real estate innovators to deliver creative solutions, disciplined execution, and enduring commitment.

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Learn more at civitascapital.com.

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SOURCE CIVITAS CAPITAL GROUP