Echelon focuses exclusively on third-party management for owners in Colorado, banking on the company's expertise in the local market as a competitive advantage. "We believe being here in Denver and understanding the Colorado market is a valuable differentiator to local individual owners, ownership groups and lenders with underperforming multifamily communities," Stern says.
Stern says that Echelon aims to serve "an underserved niche in the market for local management." Powell adds that the new company sees itself as "an alternative to the large national firms" and will rely on its understanding of the local market to bring "an owner's perspective and intimate local knowledge."
In addition to principals Powell and Stern, the Echelon executive team includes vice president of operations Meredith Wright and regional property manager Joe Saunders. The team members have worked together for nearly 10 years for owners and managers through acquisitions, extensive renovations, tax credit development, management, condominium conversions, receivership and asset management.
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