CIVITAS CAPITAL GROUP ANNOUNCES SALE-LEASEBACK WITH CREDIT UNION 1
“Our transaction with Credit Union 1 demonstrates our value proposition to the credit union community across the United States,” said austin khan, chief investment officer of Civitas, who led the transaction with a colleague jorge adler. “This underscores our commitment to be the industry’s leading provider of leaseback services as the unique opportunities brought by changing regulatory and working environments become evident.”
For Credit Union 1, the transaction has unlocked balance sheet capital that can be used to increase Credit Union 1’s net worth ratio, improve its lending capacity, or expand its products and services offered to members, while retaining the ability to use the space over the long term.
“The creativity and flexibility of Civitas Capital Group allowed us to maximize the gain on sale and close the transaction within the desired time frame. Civitas understood the unique aspects of working with credit unions and we are delighted that they will be our partners for years to come,” says Todd Gunderson, CEO/Chairman of Credit Union 1.
Henderson, the second largest city in Nevada, grew more than 20% between 2010 and 2020. Amazon recently opened a 60,000 square foot distribution facility in Henderson, and Google opened a $600 million the expansion of the data center in the region. The Las Vegas MSA has rebounded since the early days of the COVID-19 pandemic, posting 9.7% year-over-year job growth in the third quarter of 2021.
ABOUT CIVITAS CAPITAL GROUP
Civitas Capital Group is an agile alternative investment manager, founded in 2009, offering attractive niche opportunities in US real estate. Civitas exists to create opportunities that enrich our communities, our investors and our employees. Driven by relentless creativity, Civitas digs deeper to uncover opportunities that others miss. Follow Civitas Capital Group on LinkedIn. Learn more at civitascapital.com.
SOURCE Civitas Capital Group