Civitas Closes $104 Million Senior Loan for 164-Unit Class A Multifamily Community in Colorado's Vail Valley - PR Newswire

Civitas Capital Group has closed a $104 million senior construction loan for The Summit, a 164-unit multifamily development in downtown Avon, Colorado, being developed by Grand Peaks. The project will include 144 market-rate apartments, 20 affordable units and approximately 5,000 square feet of commercial space, with construction expected to begin in Q3 2026. The Town of Avon is contributing up to $11.84 million in public financing to support the development. Located near Beaver Creek Resort, The Summit qualifies as a rural Targeted Employment Area under the EB-5 program and is intended to help address Eagle County’s significant housing shortage.