Echo Real Estate Capital

What Echo Real Estate Capital does

Echo Real Estate Capital, Inc. is a Chicago-based, privately held full-service real estate investment and development firm founded circa 2019 (firmographics list 2016), operating a national platform across Midwest, Southeast, Southwest, and Mountain states. The firm executes build-to-suit development, value-add acquisitions and repositioning, sale/leaseback advisory, and capital stack structuring for healthcare providers (Prisma Health, Ascension, Community Health Network, Franciscan Health, Advocate Aurora, Broward Health), national retailers (REI Co-Op, Taco Bell, Planet Granite, Chase Bank), industrial/logistics users (HubStarr Logistics), and general office tenants, with transaction sizes ranging from $5 million to $100 million. The portfolio includes medical office campuses such as Landmark Medical Park (Columbia, SC), Rampart Medical Campus (Denver, CO), and multiple Greenwood, IN MOBs, plus Class A industrial developments Echo Park 303 (Glendale, AZ, 675,000 SF) and Echo Park @ P132 (Surprise, AZ).

Revenue is generated through development and project management fees on build-to-suit work, recurring asset management fees on the stabilized portfolio, transaction fees on acquisitions and dispositions, capital markets advisory fees from structuring debt/equity stacks with regional banks, CMBS lenders, private equity, family offices, and bridge/mezzanine lenders, and leasing commissions on managed properties. Cumulative acquisition and development activity exceeds $350 million across at least six active states. The firm operates with a small team (approximately 9 named professionals) led by founders Chad M. Firsel (President) and Jon Boyajian (COO), with no disclosed institutional capital backing or parent company. Distribution is exclusively through direct, principal-led relationship-based enterprise sales; there is no marketplace, self-serve channel, or proprietary technology platform.

Name

Echo Real Estate Capital

Legal name

Echo Real Estate Capital, Inc.

Website

https://echorecap.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Echo Real Estate Capital is a Chicago-based, privately held full-service real estate investment and development firm executing build-to-suit, value-add, sale/leaseback, and capital markets advisory transactions for healthcare providers, national retailers, industrial users, and office tenants across the United States.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment & Development

NAICS

Offices of Real Estate Agents and Brokers (53121), Other Investment Pools and Funds (5259), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Real Estate Dealers (For Their Own Account) (6532), Investors, Nec (6799), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Real Estate Funds — Value-Add (FSANAEAH)

akta.pro secondary industries

Real Estate Funds — Opportunistic / Development (FSANAEAI), Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL), Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB)

Keywords

• Commercial real estate investment
• Build-to-suit development
• Medical office properties
• Value-add real estate
• Sale-leaseback advisory

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Real Estate Development Fees: Echo Real Estate Capital earns fees from build-to-suit development services, including new construction project management, design coordination, and construction oversight for healthcare, retail, industrial, and office clients.
2. Asset Management: Ongoing asset management fees from managing a portfolio of medical office, retail, and industrial properties across multiple states for investors.
3. Acquisition and Disposition Advisory: Transaction-based fees from sourcing, underwriting, and closing real estate acquisitions and dispositions for clients and investors.
4. Capital Markets Advisory: Advisory services related to structuring capital stacks for real estate transactions, matching debt and equity sources with investment opportunities.
5. Leasing Commissions: Commissions earned from leasing activities for tenants in the company's managed portfolio properties, including medical office, retail, and industrial spaces.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Echo Real Estate Capital is a full-service real estate investment and development firm that acquires, develops, repositions, and manages commercial properties on a national platform. Its core offerings are build-to-suit development, value-add investments, sale/leaseback advisory, and capital stack structuring for healthcare providers, national retailers, industrial manufacturing and distribution companies, and general office users, with transaction sizes ranging from $5 million to $100 million.

Product overview

Echo Real Estate Capital operates as a full-service real estate investment and development firm offering a coordinated suite of services centered on acquiring, developing, and managing commercial properties. Their core offerings include Build-to-Suit Development Services, Value-Add Investment Services, Sale/Leaseback Advisory, and Capital Stack Solutions. The company's portfolio includes named property assets such as Rampart Medical Campus (Denver medical office), Echo Park 303 (Glendale industrial), and Echo Park @ P132 (Surprise industrial). Services target healthcare providers, national retailers, industrial manufacturers, distribution companies, and general office users across the United States, with primary markets including Chicago, Denver, Indianapolis, San Diego, Phoenix, Houston, and other major metros.

Differentiator

Problem solved

Functional benefit

Products and services

• Build-to-Suit Development Services
• Value-Add Investment Services

Quantifiable outcome

• 281% increase in NOI (from $232,000 to $885,000) at Haverhill, MA medical office building
• +5 more outcomes

Named customers19 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core.

• CBREcoreChannel Partner/ Reseller/ Distributor · 1 February 2025CBRE represented the seller (Healthcare Realty Trust) in the Rampart Medical Campus transaction and serves as Echo's leasing partner for the property. CBRE highlighted historical components of the property during due diligence.
• Colarelli ConstructioncoreImplementation/ SI/ Consulting Partner · 1 February 2025Design-build contractor engaged by Echo for renovation and value-add work at the Rampart Medical Campus, including lobby upgrades and spec suite construction.
• Grandview PartnerscoreStrategic or Co-development Partner · 1 February 2025Full-service real estate investment firm that co-developed Echo Park 303 in Glendale, AZ with Echo Real Estate Capital in a joint venture. Both firms served as co-sellers of the 220,240 SF Building A to LBA Logistics.
• Cushman & WakefieldcoreChannel Partner/ Reseller/ Distributor · 1 February 2025International commercial real estate brokerage firm that represented Echo and Grandview Partners in the sale of Echo Park 303 Building A to LBA Logistics. Will Strong, Molly Hunt, Michael Matchett, Madeline Warren, and Jack Stamets of the National Industrial Advisory Group - Mountain West represented the sellers.
• PREMIER Design + Build GroupcoreImplementation/ SI/ Consulting Partner · 1 February 2025National general contractor partnered with Echo Real Estate Capital to complete Echo Park @ P132, four speculative industrial buildings totaling 182,870 SF in Surprise, AZ. PREMIER's first project in Arizona, navigating extreme desert climate conditions with temperatures exceeding 100 degrees for over 100 consecutive days.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Anchor Health Properties: A national healthcare-focused real estate investment and development firm specializing in medical office buildings, outpatient facilities, and on-campus hospital properties. Directly comparable to Echo in target asset class, client base (major health systems), and build-to-suit/value-add strategy.
• Hammes Partners: A healthcare real estate development and investment firm focused on ambulatory care, medical office, and outpatient facilities for health systems. Echo's healthcare-focused build-to-suit and MOB strategy is directly comparable to Hammes' core business model.
• NexCore Group: A national healthcare real estate developer specializing in MOBs, outpatient facilities, and on-campus medical developments. Comparable to Echo in its focus on build-to-suit healthcare projects for major hospital systems and physician groups.
• MedProperties Holdings: A healthcare real estate private equity firm that acquires, develops, and manages medical office buildings and outpatient facilities. Directly comparable to Echo in MOB value-add investment and GP-led capital structuring.
• Caddis Healthcare Real Estate: A healthcare real estate development and investment firm focused on medical office buildings and outpatient facilities across the Sun Belt and growth markets. Comparable to Echo in its multi-state healthcare build-to-suit and acquisition strategy.
• Rendina Healthcare Real Estate: A privately held healthcare real estate development and investment firm focused on medical office buildings, ambulatory care centers, and healthcare campuses. Directly comparable to Echo in MOB build-to-suit and value-add repositioning.
• Flagship Healthcare Properties: A healthcare-focused real estate investment and management firm specializing in medical office buildings, outpatient facilities, and surgery centers. Comparable to Echo in serving physician practices and health systems as anchor tenants.

Broad incumbents

• CBRE Healthcare: The healthcare practice of CBRE Group, the world's largest commercial real estate services firm. Directly comparable to Echo in MOB advisory and capital markets, but operating as part of a much broader global platform (CBRE represented the seller in Echo's Rampart Medical Campus acquisition).
• JLL Healthcare: The healthcare-focused real estate practice of JLL, one of the largest global commercial real estate services firms. Provides brokerage, capital markets, and project management services to health systems — overlapping with Echo's capital markets advisory and build-to-suit activities, but at vastly greater scale.

Others

• Healthcare Realty Trust: A publicly traded healthcare REIT that owns and operates outpatient medical facilities nationwide. Echo acquired the Rampart Medical Campus from Healthcare Realty Trust, making it a direct counterpart and competitor for the acquisition and disposition of stabilized MOB portfolios.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/echo-recap

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Echo Real Estate Capital