Collaborative, creative, experienced...
redfish advisors is an outsource partner for its clients who are involved in the development of or investment in commercial real estate. redfish serves its clients by providing guidance in the feasibility, underwriting, AND capital structuring/sourcing of new investment opportunities.
Ken Etterman founded Redfish Advisors in 2006 after more than fifteen years working in the real estate finance groups of large national banks (what are now Bank of America and Wells Fargo). During the course of his banking career, Ken originated and underwrote over a billion dollars in financing transactions for property types including multifamily, retail, hospitality, industrial, senior housing, residential high-rise condominium, as well as land development. Since founding Redfish, Ken has worked as a consultant on over $2.3 billion (total project value and/or financings) in real estate transactions. Clients have ranged from individual investors to publicly traded REITs. Ken has developed specific knowledge in student housing, senior housing, and multifamily apartments.
Redfish Capabilities include:
Investment Advisory - representing real estate investors and developers on site selection and acquisitions.
Capital Sourcing - sourcing debt and equity capital - directly with the principals or in conjunction with a broker.
Underwriting & Financial Modeling - feasibility analysis, project budgeting, development cash flows, operating projections, investment return projections, investment waterfalls.
Business Plans - drafting business plans for private placement memorandums.
Capital Structuring - advise on the structuring and negotiation of both debt and equity commitments.
Financing Memorandums - drafting financing memorandums on behalf of the developer and investor to be used in the sourcing of debt financing.
Closing Advisory - coordination with the business and legal teams required to bring a project to a successful capital closing.
Diversity of experience...
redfish advisors has had the opportunity to be involved in billions of dollars of investment real estate projects providing; underwriting, capital structuring, capital sourcing, financial modeling, feasibility analysis, deal term negotiation, closing coordination, and draw administration. The following are a sample of the projects on which Redfish has advised…
$71 million student housing community × Clemson University
Redfish provided project underwriting to the developer of this 994-bed student housing community from the inception of the project concept through closing, working closely with both debt and equity providers to structure and negotiate key business terms. Through the 24-month pre-development process Redfish supported the development team with multiple iterations of the project business plan including modeling investment returns and promotes. Redfish coordinated the closing of both debt and equity.
$30 million senior housing community × greenville, SC
Redfish worked closely with the development team on this 112-unit senior housing community. Redfish's involvement began with site selection then continued through project planning, capitalization (both debt and equity), closing and construction. Redfish provided underwriting, equity and debt packages, structured and negotiated both equity and debt terms, then prepared and managed the equity and debt draw process through successful completion of the project.
$9 million commercial mixed use × asheville, nc
Redfish provides underwriting, modeling, capital structuring and sourcing support to the investment team who acquired a vacant industrial property and is transforming it into a destination retail and arts venue in Asheville's River Arts District.
$29 million senior housing × baton rouge, la
Redfish, as part of the sponsorship team, provided underwriting, capital structuring, capital sourcing, investment analysis, financial modeling, closing coordination, and on-going draw administration for this 120-unit assisted living and memory care community.
$36 million student housing × dublin, ireland
Redfish provided financial modeling and capital structuring for a 211-bed student housing project in the heart of Dublin.
$74 Million multi-Family Housing × San Francisco, CA
Redfish provided financial modeling to a west coast developer of affordable housing for a planned 120-unit market rate apartment project in San Francisco's Potrero Hill neighboorhood .
$18 Million Memory Care Facility × Henderson, NV
Redfish provided support to the developer/operator of a 62-unit stand-alone memory care community. Redfish provided financial modeling and analysis for debt and equity, coordinated the debt raise and facilitated the closing of both debt and equity.