Civitas Closes $104 Million Senior Loan for 164-Unit Class a Multifamily Community in Colorado's Vail Valley
$104M
USD 104,000,000 · as sourced
164 units
Avon, CO
Senior Construction Loan
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.
Source Verification & References
- PR NewswirePrimary Source
Editorial Corrections Log
Corrections — Cycle 1: October 6, 2026: Corrected transaction type from Acquisition to Senior Construction Loan to match the August 28 PR Newswire source. Removed the PR Newswire suffix from the display headline. URL and other deal facts unchanged.