USCIS Awards Civitas Investors I-526E Approval for Rural EB-5 Aspen Project

DALLAS, Dec. 23, 2024 /PRNewswire/ -- Civitas Capital Group, a Dallas-based alternative investment manager offering EB-5 investors niche opportunities in U.S. real estate, today announced that several investors in Civitas' Aspen II project have now received I-526E approvals filed earlier this year.

This continued a trend for rural approvals for Form I-526E, Immigrant Petition by Regional Center Investor since the passage of the EB-5 Reform and Integrity Act of 2022 (RIA). The processing time for this immigrant petition approval is significantly faster compared to pre-RIA petitions, where adjudication would often stretch over several years.

"We are delighted to see that I-526E approvals for our investors continue to be processed by USCIS at a fast pace," said Jeff Kiser, Director and Head of EB-5 Investor Relations for Civitas. "This expedited timeline aligns well with the expectations of our investors who chose this project to benefit from both its strength and the promise of a swift approval process."

"This is more than just paperwork moving quickly," Kiser noted. "It's an express lane for EB-5 investors to begin their life in the U.S."

The EB-5 financing for this project is helping finance the construction of Tree Farm Lofts, a 196-unit, Class A multifamily community in Basalt, Colorado, less than a 30-minute drive from Aspen. Basalt sits in the Roaring Fork Valley (RFV), an economic hub in Western Colorado. Roaring Fork Valley is home to high-income residents and world-famous tourist destinations.

The development qualifies as a "rural" project (also known as a "Targeted Employment Area," or TEA) under the definition of the USCIS, allowing EB-5 investors the opportunity to obtain access to set-aside visas and priority processing under the EB-5 Reform and Integrity Act of 2022.

The Tree Farm Lofts project follows Civitas' July 2023 close of its next-door property, Terraces at Tree Farm, a 72-unit Class A active adult community. The developer for both projects is Dallas, Texas-based Realty Capital. The I-956F for that project was approved in just five months, and investor I-526E approvals in that project have come in as fast as 52 days.

Other notable aspects of Civitas' Aspen Fund II project:

• I-956F approved: Our second rural EB-5 investment offering received I-956F approval on May 29, 2024 – just four months after submission to USCIS. Civitas has 100% project approval across all 50 of our EB-5 funds.
• Adds to our proven track record: In 15 years, Civitas has worked with 1,500 investors on 50 EB-5 funds, returning over $440MM to investors.

ABOUT CIVITAS CAPITAL GROUP

Civitas Capital Group is a nimble alternative investment manager offering EB-5 investors 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