Civitas Capital Group, a Dallas-based alternative investment manager, has closed a $150 million senior loan to finance construction of a 210-room Curio Collection by Hilton hotel on the island of Kauai, Hawaii. Civitas is providing the senior loan to affiliates of Silverwest Hotels and its institutional equity partners.
Situated on approximately 8.5 acres, within a 450‐acre oceanfront luxury resort community, the property will include a three‐meal restaurant, the pro shop for the 18‐hole Jack Nicklaus Ocean Course at Hokuala, an outdoor pool, 27,000-square-feet of interior and outdoor meeting and event space and a fitness center. This will be Hilton's second branded hotel on the island.
"With the project's institutional capital backing, experienced sponsorship, and high barrier to entry location, this financing opportunity matches the strategic vision of our bridge lending program," Austin Khan, managing director of investments for Civitas, said in a statement. "We continue to focus on the growth of our platform with over half a billion of closed or currently in-process transactions over the past 12 months."
"We strive to be great lending partners to the hospitality industry," said Marisa Lizak, managing director of investments for Civitas. "As both an equity investor in hotels as well as a debt capital provider to the market, we are able to understand the unique challenges of the asset class and structure financing solutions that fit the needs of institutional hotel owners."