Civitas Capital Group Secures $104 Million Loan for Colorado Multifamily Project

Civitas Capital Group announced the closing of a $104 million senior construction loan intended to finance The Summit, a 164-unit Class A multifamily community. The development is located in downtown Avon, Colorado, within the Vail Valley.

The loan will fund the construction of the apartment complex, which is being developed by Grand Peaks Development. The project aims to address the growing demand for housing in the popular mountain resort area.

The Summit's location in Avon provides proximity to world-renowned ski resorts and other attractions, contributing to a strong rental market. The area attracts both seasonal visitors and permanent residents seeking quality housing options.

Civitas Capital Group specializes in real estate investment and debt solutions. This transaction represents a significant commitment to the multifamily sector and aligns with their strategy of supporting substantial development projects.