SAN DIEGO, Sep. 19, 2014 /Daily Transcript/ — Fident Capital secured $24 million of project financing for the acquisition, entitlement and development of an infill town-home project in La Jolla Village.
The project will offer 18 town-homes sized at about 2,200 square feet.
“We had stellar partners on this project with a proven track record in coastal La Jolla,” said Kevin Choquette, principal of Fident Capital.
The project is located at the northeast corner of Silver and Draper streets. A groundbreaking is expected in mid-2015, pending approval from various governmental agencies. Others in the deal include Coastal Development Company and Encore Capital Group.
The development appetite continues to grow, both developers and investors are accepting the risk profile in this post-recession environment, according to Choquette.
Fident Capital secures investment capital to support the entrepreneur’s vision on “risk projects” including speculative developments, redevelopments and repositions.