Developed by Parkspring Multifamily, The Lucille represents the latest venture in a partnership that began with Colorado-based projects, including Tree Farm Lofts and the Kodiak Club & Residences. Realty Capital Partners serves as the primary equity participant in the Texas project, leveraging nearly three decades of investment experience. According to Realty Capital founder Richard Myers, the firm’s decision to partner with Civitas centers on the lender's established history in the EB-5 industry and their reliability in delivering construction capital.
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Civitas Capital Group Secures $33.6 Million Loan for Texas Multifamily
A $33.6 million senior construction loan for The Lucille, a 240-unit multifamily development in Fredericksburg, Texas, marks the fourth collaborative financing deal between Civitas Capital Group and the Realty Capital family of companies. The project targets growth in the Austin metropolitan area and the local tourism sector.
The project qualifies as a rural Targeted Employment Area under the EB-5 program, allowing investors to participate at the $800,000 threshold with priority petition processing. Dan Healy, CEO of Civitas Capital Group, noted that underwriting four consecutive transactions with the same counterparty provides a stable credit profile for investors. With construction slated to begin in the third quarter of 2026, the deal underscores a shift toward repeat partnerships that span multiple states and capital structures.
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