The EB-5 Program: a permanent bridge across cultures for your family and generations to come.

Transcription

1 EB-5 CAPITAL 1

2 1

3 The EB-5 Program: a permanent bridge across cultures for your family and generations to come. This document does not constitute an offer, solicitation, or recommendation to sell or a solicitation of an offer to buy any securities, investment products, or investment advisory services. This presentation includes only summary information, and not all information necessary to make an investment decision. Any such offer may only be made to qualified investors by means of delivery of formal offering documents (e.g., a confidential private placement memorandum with accompanying subscription documentation) or other applicable materials that describe the material terms of the transaction. 2

4 3

5 WELCOME FROM THE CEO What sets the Civitas Capital Group family of companies apart is the depth of our relationships with clients. As the global downturn made clear, savvy clients do not need a financial supermarket. They need a partner. F or discerning clients, Civitas is that partner. The firm attracts clients who value relationships, long-term thinking, and independent, rigorous investment management. These values are reflected in the firm s history. From the very beginning, the Civitas team comprises professionals with experience managing money for sophisticated institutions that demand quality and transparency. I am convinced Civitas offers the highest caliber EB-5 investments available. Clients select Civitas EB-5 Capital because our offerings are honest and transparent. With a relentless focus on quality and client service, our approach sets us apart in an increasingly crowded and sometimes confusing EB-5 market. While EB-5 was the firm s sole initial focus, today Civitas is much more a full-service real estate advisory partner dedicated to truly understanding our clients unique needs and providing a comprehensive suite of services to meet those needs. To learn more about what makes Civitas EB-5 Capital different, I invite you to contact us. We are here to serve. We look forward to taking the next step forward together. Sincerely, DAN HEALY What sets the Civitas Capital Group family of companies apart is the depth of our relationships with clients. 4

6 ABOUT CIVITAS CAPITAL GROUP Civitas is an investment manager offering institutional investors, family offices, and qualified individuals compelling, niche investment strategies. Civitas expertise in U.S. real estate and lodging markets through its Alternative Investments and EB-5 Capital divisions helps the firm source and integrate non-traditional capital and/or structures into investments that enhance returns and mitigate risk. 5

7 ALTERNATIVE INVESTMENTS Civitas Alternative Investments provides qualified individuals the opportunity to invest in a range of real estate assets with top-tier developers in the U.S, in categories like hospitality and multifamily. Some of the funds are conservative and income-oriented, others are more aggressive. All the funds are designed to target above-average returns on a risk-adjusted basis. To learn more, please contact us at info@civitascapital.com E B - 5 CAPITAL Civitas EB-5 Capital manages Regional Centers throughout the United States. As a professional investment manager, Civitas performs rigorous institutional-quality financial analysis of each potential EB-5 project, screening a wide range of potential investments to ensure those we select meet stringent criteria. Civitas is one of the few regional center manager that has successfully help multiple investors obtain unconditional permanent United States residency and repayment of their investments. * *Making a qualifying investment alone does not guarantee a successful completion of the EB-5 program as there may be other independent grounds for inadmissibility to the United States. 6

8 EB-5 PROGRAM OVERVIEW The U.S. government s EB-5 Immigrant Investor Program provides foreign nationals with an opportunity to obtain U.S. permanent residency (a green card ) for themselves and their immediate family members for investing in American businesses that create new jobs. The investment must lead to the creation of at least 10 American jobs per investor. In return, the investor, his or her spouse, and any unmarried children under 21 may become eligible to receive permanent U.S. green cards, allowing them to live and work anywhere in the United States. We make no representation or warranty regarding your satisfaction of the EB-5 Program requirements and have not provided and will not provide you with any legal advice regarding your immigration status or the tax consequences to you of an investment. Prior to participating, you must consult your personal immigration lawyer, as well as financial and tax advisors. This is not an offer or recommendation to sell or solicitation of an offer to buy any securities, investment products, or advisory services. Such an offer may only be made to qualified investors by means of delivery of a definitive confidential private placement memorandum or other similar materials that contain a description of the material terms. Information last updated in March

9 GREEN CARD BENEFITS LOWER COLLEGE TUITION Compared to foreign students. WORK AUTHORIZATION To get a job anywhere in the U.S. RESIDENCE FLEXIBILITY To live anywhere in the U.S. TRAVEL PRIVILEGES So you can leave and enter the U.S. at will, without a visa. PATH TO NATURALIZATION For you to become a U.S. citizen. NO NEED TO RENEW As long as you apply to replace your green card every 10 years. ACCESS TO SOCIAL SECURITY So you may receive retirement benefits, such as a supplemental income, after contributing to the Social Security system. ACCESS TO MEDICARE So you can enjoy health insurance benefits from the U.S. government from the age of 65 after residing in the U.S. for five years. PERMANENT STATUS As long as you follow U.S. law. 8

10 WHY CIVITAS EB-5 CAPITAL? HIGH-QUALITY PROJECTS THAT MEET EB-5 PROGRAM REQUIREMENTS Our longstanding partnerships with municipalities and top-tier developers provide us access to thousands of potential EB-5 investments. With a deep bench of investment professionals, Civitas always applies institutional-quality financial analysis to ensure we select high-quality investments that fully comply with EB-5 job creation requirements. CLIENTS INTERESTS COME FIRST Our approach allows us to select projects based on their ability to meet the EB-5 job creation requirements and preserve investor capital. Our goals are aligned with the priorities of our investors. CAREFUL AND CONTINUOUS PROJECT SUPERVISION We are responsible stewards of the assets entrusted to us. Our asset management team closely monitors the status of every Civitas EB-5 investment and has the resources and expertise to manage unexpected issues that may arise. Our deep experience mitigates risk for EB-5 investors. A DIVERSE TEAM OF FINANCIAL EXPERTS AT YOUR SERVICE We take pride in our team of seasoned financial experts whose devotion to our company and its clients is unparalleled in the industry. Our staff members have diverse backgrounds and speak 17 languages, allowing us to develop a complete understanding of each client s culture and goals. Civitas is one of the few regional center managers that has successfully helped investors obtain unconditional permanent United States residency and repayment of their investments. 9

11 Rafael Anchia, Managing Director and Co-founder of Civitas Capital Group 10

12 MILESTONES Signed 15-year contract with City of Dallas to be exclusive manager of City of Dallas Regional Center FIRST CIVITAS I-526 APPROVED Civitas Zang Triangle Fund, Civitas Encore Fund, Civitas Phoenix Fund, and Civitas Lamar Hotel Fund Approved* (76 investors) *Projects are approved by USCIS Civitas chosen by three cities as exclusive EB-5 partner Civitas Skyline Fund & Civitas Trinity Fund Approved* (117 investors) Civitas officially launched its F IR S T EB-5 FUND Civitas West Village Fund approved* (128 investors) * AUM includes managed funds and advisory engagements. Past performance is not necessarily indicative of future results. Actual result may vary. 11

13 Civitas was appointed to manage a fund designed to jump-start economic development in southern Dallas Closed first California and New York investments Reached $500MM+ IN EB-5 CAPITAL Crossed $1B assets under management firmwide* Reached $ 600MM+ IN EB-5 CAPITAL Civitas Eagle Ford Shale Hotel Fund, Civitas Arts Center Fund, and Civitas Maple Fund Approved* (163 investors) FIRST CIVITAS I-829 APPROVED *Projects are approved by USCIS MULTIPLE INVESTMENT FUNDS HAVE REPAID CAPITAL TO INVESTORS Multiple investment funds received I-829 APPROVALS 12

14 13

15 We are honored to have played a role in helping investors complete the immigration process and also fully realize their investment. We are grateful to each of these clients for their trust in Civitas. 14

16 OUR TEAM SOARS ABOVE THE COMPETITION COMPLIANCE Our compliance department is responsible for the firm s adherence to U.S. securities laws and applicable offshore securities regulations. The firm takes its regulatory responsibilities very seriously and understands that the regulatory function touches nearly every aspect of the firm. The regulatory environment is complex; an intricate mix of securities laws, industry best practices, and business standards. We look for the best ways to offer our product to global investors while providing disclosure, completing due diligence, and managing the regulatory framework for our products. LAURIE P. ROBERTS MANAGING DIRECTOR & CHIEF COMPLIANCE OFFICER INVESTMENTS Our investment committee is made up of experts in the fields of real estate and finance. Through our combined expertise, we understand how to manage both up and down cycles. Because Civitas offers only high-quality opportunities to our investors, our committee has historically approved about 2 percent of the hundreds of deals we evaluate each year. DAVID LEE, CFA DIRECTOR, INVESTMENTS 15

17 ASSET MANAGEMENT The asset management division is responsible for monitoring construction progress, releasing funds to developers, and tracking job creation. Once the construction of a project begins, we receive monthly draw request from developers with evidence of expenditure in the form of receipts and invoices. We review all draw requests to make sure funds are being spent in accordance with the original budget and that the project is proceeding as planned. We rely on independent inspection firms to verify that work has been completed prior to releasing any funds. We also conduct onsite visits to confirm progress. By closely monitoring construction expenditures and other relevant metrics, we are able to estimate job creation in real time and ensure it is progressing as planned. Every quarter we send investors reports with construction progress, job creation, and other relevant information. NAJAM SYED DIRECTOR, HEAD OF ASSET MANAGEMENT INVESTOR RELATIONS Civitas is about a lot more than just keeping you up-to-date on your investment. Our team is committed to managing your investment and developing a relationship that goes far beyond EB-5. Civitas is about people. We want to be sure our investors make smooth transitions to the United States. The Civitas team has worked with hundreds of people and helped meet many diverse needs. Our extensive network across America is here to assist you, and our team is always available to answer any questions you may have. MANUEL F. ORTIZ DIRECTOR, HEAD OF EB-5 INVESTOR RELATIONS 16

18 17

19 OUR ROLE The Civitas team comprises professionals with experience managing money for sophisticated institutions who demand the highest level of quality and transparency. Civitas applies the same institutional-quality approach to everything we do. Our goal is to ensure EB-5 investors complete the immigration process and fully realize their investment. PROJECT SELECTION Completing rigorous, institutional-quality financial analysis focused on risk mitigation Complying with all USCIS requirements with special attention to job creation PROJECT SUPERVISION Monitoring construction progress Releasing funds to developers according to construction progress and budget Tracking job creation REPORTING TO INVESTORS Sending investors reports on construction progress, job creation, and other relevant information FUND MANAGEMENT Making distributions to investors during the life of the fund Liquidating the fund and completing capital repayment 50 employees hail from 18 countries and speak 17 languages at your service. 18

20 Civitas Galleria Hotel Mezzanine Fund, LP 256-room dual-branded AC by Marriott Dallas North and Residence Inn by Dallas North adjacent to The Galleria Dallas Mall 19

21 CIVITAS TRACK RECORD PROJECT APPROVAL ON ALL I % APPROVAL RATE 100% ADJUDICATED PETITIONS 40+ FUNDS FULLY SUBSCRIBED I-526 APPROVALS I-829 APPROVALS MULTIPLE INVESTMENT FUNDS HAVE REPAID CAPITAL TO INVESTORS ,200+ INTERNATIONAL FAMILIES INVESTOR COUNTRIES SERVED 6 * 40+ AWARD-WINNING PROJECTS MORE THAN $600 MM * IN EB-5 INVESTMENTS *Families served and total dollar amount of investments includes EB-5 Funds that have not yet closed as of printing and are therefore not depicted in this brochure. The 100% USCIS approval rate for Civitas-affiliated I-829 petitions referenced herein refers to petitions which USCIS has fully adjudicated as of the date hereof, and accordingly does not include petitions which (i) have not yet been adjudicated; (ii) were voluntarily withdrawn by the petitioner; or (iii) are in any stage of appeal from an initial adjudication. The success of Civitas-affiliated petitions adjudicated to date does not guarantee success in future cases. Past performance is not necessarily indicative of future results. Awards not necessarily specific to the EB-5 funds and are not indicative of project success. I-526 and I-829 approvals as of October 2017, the rest as of March

22 CLOSED EB-5 TRANSACTIONS Civitas has made EB-5 investments in a range of industries, including assisted living, call centers, restaurants, and multifamily partments. We invite you to explore these projects to learn more about what sets us apart, including our innovative publicprivate partnerships, rigorous transaction screening, and institutional-quality investment management expertise. $15,000, investors Call center and associated portfolio of real estate investments in Dallas, Texas $8,000, investors 260-unit multifamily community in Dallas, Texas $8,000, investors Restaurants expansion and renovation in Dallas, Texas $65,000, investors 18-story LEED-certified office building in Dallas, Texas 21

23 EXPERIENCE THAT MATTERS $4,500,000 9 investors 166-unit Class A multifamily community in Dallas, Texas $53,500, investors 388-unit multifamily community + restaurant space in Dallas, Texas $64,000, investors 387-unit mixed-use development in Dallas, Texas $5,500, investors 76-room boutique hotel redevelopment in Dallas, Texas $26,500, investors 312-unit luxury senior living community in Dallas, Texas $11,000, investors 4-story, Class A multifamily community in Dallas, Texas The transactions described are closed for investment. Past performance is not necessarily indicative of future results. Awards not necessarily specific to the EB-5 funds and are not indicative of project success. All transactions as of December 31,

24 CLOSED EB-5 TRANSACTIONS $10,000, investors Two affordable assisted living facilities in Dallas, Texas $11,000, investors 290-unit, Class A multifamily community in San Antonio, Texas $10,000, investors 242-unit multifamily community + retail space in Dallas, Texas $20,000, investors 399-unit Class A multifamily community in Dallas, Texas $5,000, investors 3 Fairfield Inn & Suites Marriott in Eagle Ford shale Region, Texas $6,500, investors 2 Fairfield Inn & Suites by Marriott in Permian Basin Region, Texas 23

25 EXPERIENCE THAT MATTERS $57,500, investors 225-room luxury lifestyle hotel in Houston, Texas $14,500, investors 250-room luxury hotel in Huntington Beach, California $18,500, debt investors $3,500,000 7 equity investors 267-unit Class A multifamily community in Houston, Texas $9,000, investors 226-unit Class A multifamily community in Dallas, Texas $33,000, investors Class A mixed-used development in Jersey City, New Jersey $3,000,000 6 investors 94-unit Class A multifamily community in Dallas, Texas The transactions described are closed for investment. Past performance is not necessarily indicative of future results. Awards not necessarily specific to the EB-5 funds and are not indicative of project success. All transactions as of December 31,

26 CLOSED EB-5 TRANSACTIONS $11,500, investors 224-room, dual-branded Starwood hotel in Dallas, Texas $4,500,000 9 investors 103-room upscale all-suite extended-stay Marriott hotel in Dallas, Texas $8,000, investors 271-unit, Class A multifamily community in San Antonio, Texas $13,000, investors 256-room dual-branded Marriott hotel in Dallas, Texas $20,000, investors 145-room expansion of an existing profitable luxury resort in Napa Valley, California $7,000, investors 128-room SpringHill Suites by Marriott, and a 107-room Home2 Suites by Hilton in McKinney, Texas 25

27 EXPERIENCE THAT MATTERS $13,000, investors 204-unit Class A multifamily community in Dallas, Texas $11,000, investors 330-unit Class A multifamily community in San Antonio, Texas $4,500,000 9 investors 71-unit Class A apartment + retail space in New Rochelle, New York $7,500, debt investors $4,000,000 8 equity investors 187-unit, Class A multifamily community in Fort Worth, Texas $10,000, investors 176-unit, Class A micro-unit multifamily community in Denver, Colorado $7,500, debt investors $5,000, equity investors 227-unit, Class A multifamily community in Phoenix, Arizona The transactions described are closed for investment. Past performance is not necessarily indicative of future results. Awards not necessarily specific to the EB-5 funds and are not indicative of project success. All transactions as of December 31,

28 KEY TRANSACTIONS IN TEXAS PROJECT: Civitas Arts Center Fund, LP LOCATION: Dallas, Texas OVERVIEW Civitas Arts Center Fund, LP made a $65 million mezzanine loan to Hall Financial Group to finance the construction of KPMG Plaza at Hall Arts Center, an 18-story LEED-certified office building. Located in the Dallas Arts District, the largest arts district in the U.S., the project s anchor tenants are global accounting firm KPMG, LLP, and Jackson Walker, LLP, a 125-yearold Texas law firm. PROJECT: Civitas West Village Fund, LP LOCATION: Dallas, Texas OVERVIEW Civitas West Village Fund, LP made a $64 million senior loan to an affiliate of Forest City Enterprises (NYSE: FCEA) to finance the construction of 387 luxury apartments and 37,000 square feet of retail and restaurant space in the heart of the bustling Uptown area of Dallas. Forest City is among the most prominent and successful residential and mixed-use developers in the United States. Case studies provided do not comprehensively represent the business of Civitas EB-5 Capital or its affiliates. Past performance is not necessarily indicative of future results. Actual result may vary. 27

29 KEY TRANSACTIONS IN CALIFORNIA PROJECT: Civitas Huntington Beach Hotel Fund, LP LOCATION: Huntington Beach, California OVERVIEW Civitas Huntington Beach Hotel Fund, LP made a $14.5 million mezzanine loan to an affiliate of Pacific Hospitality Group, to partially finance the development of the Paséa Hotel & Spa, a 250- room luxury hotel located in Huntington Beach, California. The Paséa Hotel & Spa will be branded as a member of the Meritage Collection, a group of four luxury hotels owned and operated by Pacific Hospitality Group. PROJECT: Civitas Meritage Commons Fund, LP LOCATION: Napa Valley, California Case studies provided do not comprehensively represent the business of Civitas EB-5 Capital or its affiliates. Past performance is not necessarily indicative of future results. Actual result may vary. OVERVIEW Civitas Meritage Commons Fund, LP made a $20 million subordinated loan to partially finance the construction of Meritage Commons, an expansion of the existing Meritage Resort & Spa, a worldrenowned luxury resort located in the wine country of Napa Valley, California. The Meritage is one of the closest wine country resorts to San Francisco, located approximately 30 miles outside the city. Meritage Commons will feature 145 guestrooms, a Wellness Spa featuring a spa relaxation area focusing on water treatment, wine tasting rooms, and outdoor event space. 28

30 K E Y T R A N S A C T I O N IN NEW JERSEY PROJECT: Civitas Hudson Exchange Fund, LP LOCATION: Jersey City, New Jersey OVERVIEW Civitas Hudson Exchange Fund, LP made a $33 million mezzanine loan to an affiliate of Forest City Enterprises to partially finance the construction of Hudson Exchange, a Class-A, mixed-use development located in Jersey City, directly across the Hudson River from Manhattan. The project is located in what is going to be a master development. The Hudson apartments are the first step in the process of building a master community in the next 10 years. Forest City is a nationally recognized development firm and has been publicly traded for more than 50 years. Case studies provided do not comprehensively represent the business of Civitas EB-5 Capital or its affiliates. Past performance is not necessarily indicative of future results. Actual result may vary. 29

31 K E Y T R A N S A C T I O N IN NEW YORK PROJECT: Civitas Printhouse Mezzanine Fund, LP LOCATION: New Rochelle, New York OVERVIEW The Civitas Printhouse Mezzanine Fund, LP made a $4.5 million mezzanine loan to an affiliate of Megalith Capital Management and East and Hudson Real Estate to partially finance the development of Printhouse, a 71-unit, Class A multifamily development with 3,000 square feet of ground level retail space located in Downtown New Rochelle, New York. Case studies provided do not comprehensively represent the business of Civitas EB-5 Capital or its affiliates. Past performance is not necessarily indicative of future results. Actual result may vary. 30

32 CIVITAS PRESENCE Dan Healy GUEST COLUMNIST DAN HEALY: EB-5 INVESTING IS ABOUT PEOPLE, NOT PROJECTS Charles Dickens may have been the first person to publicly entertain the Ponzi scheme in his 1844 novel Martin Chuzzlewit. Dickens created a fictional character by the name of Montague Tigg who defrauded investors by paying off early insurance policyholders claims with premiums from new policyholders. A bout 80 years later, Charles Ponzi officially made the scheme famous. In subsequent decades, various highprofile frauds followed, with the most memorable in recent history perpetrated by Bernard Madoff, who admitted to orchestrating one of the largest Ponzi schemes in U.S. history. The essence of this scheme hasn t changed over the years. What was true in Dickens time is true today: Investors should invest in people, not projects. While not on a Madoff scale, the scheme reappeared in 2013 in the context of the EB-5 visa, a federal program through which foreign nationals can receive permanent residency in the United States (a green card ) in return for investing at least $500,000 in a U.S. business that creates 10 or more jobs for American workers. EB-5 investors capital is usually pooled through a federally designated regional center, which then provides the funds to a job-creating enterprise, typically in the form of a loan or equity investment. According to court records, the FBI investigated employees of the USA Now Regional Center in McAllen, in connection with an alleged Ponzi scheme in which money from EB-5 investments from clients who thought they were investing in a job-creating project was diverted into financing a lavish lifestyle. I m encouraged to see immigration at the forefront of debate in America, but not for these reasons. In the years to come, the EB-5 program has the potential to create hundreds of thousands of jobs for American workers, at minimal cost to taxpayers. This innovative economic development tool will play an integral role in keeping the U.S. economy strong, vibrant, and competitive with many other nations around the world who actively court investors and their capital. But as the EB-5 industry matures and program participants find ever more creative applications for EB-5 capital, 31

33 In my investing career, I ve learned that every deal comes down to the quality and integrity of the people involved. the program s regulatory infrastructure must also evolve in order to maintain the trust and confidence of all stakeholders, including investors, businesses, regulators, elected officials, and most importantly the American public. Increased oversight, with a focus on anti-fraud measures and standards for program participation, is essential. These scams are avoidable. When evaluating any financial product, investors need to take the time to do their homework. Warren Buffett, arguably the greatest investor of all time, said it best: Never invest in a business you cannot understand. This sage advice is especially apt for EB-5 investors, who have both their investment and their dream of becoming an American on the line. As the head of Civitas Capital Group, I oversee approximately $600 million in EB-5 capital. I also serve as a director of Invest In the USA (IIUSA), the leading trade association for EB-5 regional centers. I ve seen the good, the bad, and the ugly when it comes to EB-5 investments. In my investing career, I ve learned that every deal comes down to the quality and integrity of the people involved. This is all the more true with EB-5 investment sponsors, who must possess both financial and immigration expertise. So, first things first: research the people managing the regional center. Who is really responsible for making sure the investment performs and the jobs are created? Read the offering documents, cover to cover. Request a track record. Ask for professional biographies. If possible, visit the regional center s office and talk to their staff. Do they have sufficient experience in finance, investments, and immigration to execute the proposed investment strategy? Have they done so successfully before? Ask for a reference list of attorneys, accountants, and public sector partners. Call these references and ask them for more references. Who else knows these regional center managers? What is their reputation? Don t be shy about asking tough questions. If you get any resistance, move on. If the people pass muster, evaluate the investment itself. How does it work? The answer should not be complicated. If it is, move on. Are the project claims questionable? In a recent SEC enforcement action in Chicago, the agency accused a regional center of making a raft of false statements, such as the claim that the 2.8- acre tract of land for the project was worth $177 million. Such an aggressive claim should have immediately raised red flags and could have been verified with minimal effort. What is the targeted return? If it s zero, which is not unheard of with EB-5 investments, then move on. It s also critical to understand the repayment priority. Do the EB-5 investors get paid back first, second, or third? The lower the repayment priority then the higher the financial risk. What are the potential sources of repayment? If the investment is a loan, is it secured by collateral? If so, what is it and how is it valued? Is anyone guaranteeing repayment? Documentation for the answers to these questions should be readily available. If not, ask why. If you don t like or understand the answers to any of these questions, move on. The EB-5 program is all about job creation. Are the sources of job creation identified and reasonable? The job creation should be well in excess of the minimum legal requirement, and the path to creating those jobs should be as close to a straight line as possible. Too often, unfortunately, EB-5 investors and their advisors are not asking these questions. The good news is that we are still in the early chapters of the EB-5 story. As the program s popularity has exploded, investors have become far more sophisticated than they were even a few years ago. The public sector also is doing its part. Both the House and Senate are working on bills which, if passed, would go a long way toward addressing these concerns. In the meantime, U.S. Citizenship and Immigration Services (USCIS), the agency responsible for administering the program, has been intensely focused on enhancing the program s integrity. The agency beefed up its technical staff significantly, bringing in economists and business analysts. I can personally attest that the quality of the agency s analysis of EB-5 petitions has improved dramatically in recent months as a result. USCIS has also established a close working relationship with the SEC, with concrete and very positive results, not least among them a very public signal to would-be fraudsters that there s a new sheriff in town. Although regulation and oversight are important, there will never be a substitute for old-fashioned due diligence. As with traditional financial markets, the government s role is to regulate and punish bad actors, not to pass judgment on the merits of a particular investment the latter is appropriately left up to each individual investor. For my clients, an EB-5 investment is not just a financial product; it is a life-changing experience. With the stakes so high, investors must demand quality and transparency from regional centers. Only with a clear understanding of a project s potential risks and benefits can investors make informed decisions. In my experience, the most important element of almost any investment is the people who will execute it. In the wake of frauds like that alleged to have occurred in McAllen, policymakers are focused on this, as they should be. EB-5 investors would be wise to do the same. 32

34 AWA R D S A N D RECOGNITION Civitas recognized as #12, #71, and #57 FASTEST GROWING COMPANY IN DALLAS in 2014, 2015, and 2016 Civitas Group Wins 2017 CONNECT DEVELOPER OF THE YEAR AWARD Congratulations, Dan Healy! D CEOs 2017 Financial Executives Awards Finalist for MOST INNOVATIVE FINANCE TEAM Civitas CEO Dan Healy currently serves on the BOARD OF DIRECTORS OF INVEST IN THE USA (IIUSA), the nonprofit EB-5 industry trade organization, and was previously Chairman of the BEST PRACTICES COMMITTEE 33

35 Civitas West Village Fund, LP BEST MIXED-USE Civitas Lamar Hotel Fund, LP MOST CREATIVE FINANCING Awards not necessarily specific to the EB-5 funds and are not indicative of project success. Actual result may vary. 34

36 Civitas Skyline Fund, LP BEST URBAN MULTIFAMILY Civitas Trinity Fund, LP MOST CREATIVE FINANCING 35

37 Civitas Arts Center Fund, LP BEST URBAN OFFICE Civitas M&M Mezzanine Fund, LP MOST CREATIVE FINANCING Awards not necessarily specific to the EB-5 funds and are not indicative of project success. Actual result may vary. 36

38 A journey of a thousand miles begins with a single step. We look forward to taking the next step together. 37

39 38

40 CIVITAS EB-5 CAPITAL One Arts Plaza 1722 Routh Street Suite 800 Dallas, Texas USA OFFICE FACSIMILE civitascapital.com 39 ENGLISH 6/2018