Civitas Capital Group, an alternative investment manager, is providing a $150m senior loan to Silverwest Hawaii Holdings for the development of Hale Malana, a 210-room resort in Kauai, Hawaii.
Hale Malana will be part of the Curio Collection by Hilton Hotels & Resorts.
Silverwest Hawaii is a joint venture supported by affiliates of Silverwest Hotels, Blackstone Strategic Partners Real Estate VII and an affiliate of affiliate Goldman Sachs.
Set on 8.5 acres, the resort will be part of a larger 450-acre oceanfront luxury community.
Hale Malana is planned to feature a range of amenities, including a restaurant offering three meals a day, a pro shop for the 18-hole Jack Nicklaus Ocean Course at Hokuala, 2,000ft² of interior meeting space, an outdoor pool, outdoor venues, and a fitness centre.
Located in Lihue, Kauai, the resort is poised to capitalise on the island’s robust lodging market, which has outperformed pre-pandemic levels last year.
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By GlobalDataThis development will mark Hilton’s second branded establishment on the island.
The project’s rural classification under the USCIS definition aligns with the interests of many EB-5 investors seeking such investment opportunities.
Civitas Capital Group EB-5 Investor Relations director Jeff Kiser said: “I am incredibly proud to be able to introduce what we believe is a high-quality rural EB-5 project to the market.
“On top of priority immigration processing, our EB-5 investors will benefit from the top-notch sponsorship, an internationally recognised brand in a premier hospitality destination and the security of a first lien. Civitas believes it’s a wonderful opportunity for EB-5 investors.”
Construction on the project is expected to commence in the third quarter of 2024, with completion anticipated by the third quarter of 2026.