John Banaski

Albuquerque, NM (USA)
Role(s):
Founder/Owner/Principal

ECHO Investment Fund LLC

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Location: Albuquerque
Industry: Real Estate
Year Founded: 2020
Number Employees: 1-10 people
Business Stage: Growth (not profitable)
Entity Type: Limited Liability Company
Description: Objectives • To align our capital sources and our property investments in an intelligent and predictable way • To source appropriate equity and debt capital to complete the funding packages for our development and acquisition goals • To launch an operating company that executes on the earning potential of our portfolio Strategy • Underwrite cash-flowing real estate deals that can be purchased, re-positioned and stabilized with a plan to increase profitability to be completed within 18-24 months of funding • Underwrite development and construction projects with stabilization at 36-42 months, and exit within 5 years • Focus on projects that produce a range between 9.00% IRR to 13.00% IRR (existing) and between 16.00% IRR and 20.00% IRR (new development) on an unleveraged basis • Existing commercial office and retail assets with strong upside via long-term NNN leases, strong credit, corporate leases, which may have ability to reposition, expand, or re-develop • New development on entitled parcels with predictable construction times • Land development in targeted markets with an exit of 5-10 years Asset Types • Multi -Family Housing (MFH - HUD and conventional) • Sr. Living (independent) • Office/Medical Office • Student and VA Housing • Build-to-Suit (credit grade tenants) • Commercial Paper on similar projects • Assisted Living/Memory Care Facilities • Day Care Facilities (Both Adult and Child) • Energy-related projects on case-by-case basis • Transportation/transit-related projects with residential, medical/office, and retail components Market Strategy • Strong public sector job base • Population base > 250,000 • University towns with growing student enrollments with graduate and post-graduate programs • High destination value (great place to visit/live) • Strong creative clusters for small business and tech incubators • 21st Century cities (governance, tax burdens, affordability) Development project Seeking $33MM in liquid funds 16 months to opening Equity or depository agreement available @ 17% IRR projected for first project