Civitas Capital Management, LLC

Civitas Capital Management, LLC is a Texas-based firm specializing in providing investment portfolio management services exclusively for real estate and real estate-related debt and equity investments. The firm was established on December 8, 2008, and primarily serves various investment vehicles, including private funds, investing in real estate assets such as multifamily rental apartments, hotels, and offices. Civitas also manages EB-5 Funds under the U.S. EB-5 Immigrant Investor Program. The firm's investment philosophy includes preserving and enhancing attainable housing stock, providing financing for high-quality hotels, and acquiring triple net lease office and medical office buildings. Civitas offers tailored advisory services to meet the specific investment strategies of each Real Estate Fund, ensuring compliance with investment objectives and restrictions. The firm charges asset-based management fees ranging from 1% to 3% per annum and carried interest based on performance achieved by the Real Estate Funds. As of December 31, 2024, Civitas managed approximately $413 million of discretionary regulatory assets under management and $626 million of total discretionary assets inclusive of Real Estate Funds. The firm operates under a code of ethics, ensuring ethical conduct and fair dealing, and has established proxy voting policies and procedures to vote proxies in the best interests of the Real Estate Funds. Civitas does not accept prepayment of fees exceeding $1,200 per Real Estate Fund six months or more in advance and has no financial conditions impairing its ability to meet contractual commitments.