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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.”
- ◦Development
- ◦Financing


