Kevin C. McTavish
Kevin McTavish founded Summit Capital, LLC, in 2003. Summit invests in a variety of real estate assets – including traditional physical properties, distressed debt, and public-to-private opportunities. With over 20 years of experience in investing and managing ‘distressed’ or ‘troubled’ real estate assets, the firm’s primary investment philosophy is to focus on opportunities where a combination of capital, creativity and intense management can produce superior risk adjusted returns for investors.
From 1995 – 2003 Mr. McTavish was a Principal at Colony Capital, LLC. At Colony he was a member of Investment Committee and Major Asset Review Committee. Colony, based in Los Angeles and with offices throughout the world, has invested and manages nearly $40 billion in real estate assets.
As Colony Capital grew their fund management operations he spent increasingly more time on investment acquisitions in addition to continuing to manage certain troubled and/or challenging assets. Beginning in 1998 he focused primarily on establishing Colony’s Asia offices in Tokyo & Seoul where he conducted all aspects of acquisition search, analysis, due diligence, capital formation & tax structuring in connection with potential investments. Initially the firm’s focus in Asia was purchasing distressed assets from financial institutions and governmental agencies established to liquidate billions of dollars of defaulted loans.
From 1996 – 1998 he was Chief Operating Officer of Colony Advisors. As COO he managed over 50 people responsible for the asset management of more than 1,000 real estate assets comprising several billion dollars. Colony Advisors conducted all aspects of workouts and turn-around situations resulting from the purchase of several large real estate loan and property portfolios.
Additional responsibilities at Colony included holding the title of Chairman of LaHotel Corporation (owner of the L’Ermitage Hotel in Beverly Hills, CA) and an active member of the Board of Directors for publicly traded Verado Holdings, Inc. – an investment made with Texas Pacific Group. Also, he originated and managed several investments in other publicly traded companies whose primary assets were real estate.
Prior to Colony Mr. McTavish was one of the five person team led by John Grayken to create Brazos Asset Management for the Robert M. Bass Group out of Fort Worth, Texas. Brazos (since renamed Lone Star Opportunity Fund) was originally formed as a partnership with the FDIC to resolve over 1,200 assets in 32 states, comprising $2.5 billion of distressed real estate loans and properties.
Prior to a career in real estate, he served in the U. S. Navy as a Mission Commander aboard the P3-C Orion anti-submarine aircraft.
He earned an MBA from the Wharton School of Business (1990) and a Bachelor of Science degree from the U.S. Naval Academy (1980).
He is a member of the Pension Real Estate Association (PREA). He is a licensed real estate broker in Texas & New Jersey and holds a California Contractor’s License. He is the Chairman of the Board for the Institutional Real Estate, Inc. (IREI) Dealmaker’s Summit Program, Leadership Summit and occasionally contributes articles to The Institutional Real Estate Letter.
Additionally, from 2003-2007 he served as a member of the Board of Directors of Lodgian, Inc. a publicly traded hotel company (AMEX:LGN). He actively participated in the management and work out of Lodgian as a representative of Oaktree Capital. Lodgian was acquired by Oaktree (smaller ownership stakes were purchased by Blackstone and Third Avenue Value Fund) by converting the purchase of distressed debt into equity during the Chapter 11 proceedings. Upon emerging from bankruptcy, Lodgian was the 9th largest hotel company in the country. Lodgian completed a secondary offering in 2004 and has since reduced their portfolio from 115 hotels down to approximately 40 properties. At Lodgian he was Chairman of both the Compensation & Nominating Committees as well as serving as a member of the Audit Committee.