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California  + Los Angeles  + Finance  | 
Civitas Capitol Group closed on a senior construction loan for a retail and creative office project along Santa Monica's Third Street Promenade

Civitas Furnishes Construction Loan for Santa Monica Retail and Office

Civitas Capital Group, a Dallas-based alternative investment manager, has closed on a senior construction loan to Blatteis & Schnur for the development of a high-street retail and creative office project at 1404-1408 Third Street Promenade in Santa Monica. The loan for an undisclosed sum was made in conjunction with the City of Santa Monica’s “Promenade 3.0” revitalization plan. 

Third Street Promenade, with more than 10 million visitors annually, runs for three blocks and is anchored by brands like Apple, Alo, Louis Vuitton and Tiffany, as well as movie theatres, local boutiques and sidewalk cafés. 

“This project is a perfect example of Civitas’ opportunistic strategy,” said Jorge Adler, VP of investments and team lead on the project for Civitas. “Our team is constantly on the lookout for opportunities others miss, and this project is one in which we believe we can add substantial value moving forward.” 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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  • ◦Financing
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