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Kevin Choquette
Commercial Real Estate Financier
Kevin Choquette has been immersed in middle-market commercial real estate transactions in the Western USA since 2002. Specializing in recruiting equity and debt capital for various real estate projects, he has successfully led teams in brokerage and REO-to-rental sectors, emphasizing the establishment of efficient systems. Kevin's expertise spans across different asset classes with a notable focus on multifamily, hotels, and large-scale residential projects. As a member of various prestigious organizations like the Real Estate Capital Alliance, Entrepreneurs' Organization, and Urban Land Institute, Kevin is deeply engaged in the real estate and entrepreneurial communities. His educational background includes a BA in Music and Philosophy from the University of Northern Colorado, an MBA in Finance from the University of Colorado Denver, and additional studies at M.I.T. Kevin has held significant roles such as Principal at Owens Financial, Principal at Fident Capital, and Vice President Business Development at Tamborine / Sugo Music, showcasing his diverse professional experience.
Highlights
Fident Capital secured $16.8MM of construction financing for the development of a 3-story walk-up, 76-unit multifamily project in National City, California. The borrower is a family operation with a decades-long track record of residential development in the surrounding area. A national bank provided leverage at 65% LTC with favorable rate floor almost 200 bps below the starting rate and strong yield on required deposits.
Project Highlights: •Borrowers’ decades long track record and patient assemblage of the 4 parcels supported favorable leverage and contributed to the deal’s strength. •Strong local demographics supported by Navy tenants continue to support rental demand in National City. •Clients’ attention to design and furnishing detail provided a superior product to comparable properties at a competitive price, exemplified by their neighboring development. Challenges: •Managing cost of capital expectations and securing bank financing in a volatile interest rate environment. •A bi-national borrower-guarantor structure required a custom solution with the bank’s credit team. •The title company deemed there was broken priority, requiring the bank to modify title insurance requirements and get comfortable with an ALTA 33 policy to allow incremental coverage. •Guiding a borrower with limited exposure to US regulated commercial banks through a closing process. #commercialrealestate #nationalcity #multifamily #multifamilydevelopment
