Checkmate Capital Funds $6.5 Million Austin, Texas Land Acquisition
Land Strategically Located to Accelerate Growth of EcoSoils Platform
LOS ANGELES, Sept. 24, 2019 (GLOBE NEWSWIRE) -- Checkmate Capital has funded 50% of the equity in its affiliate Austin Eco Lands, LLC, a Texas limited liability company (“AEL”) to acquire approximately 300 acres of land in the suburbs of Austin, Texas, part of the greater Austin metropolitan area. The land is strategically located between FM 969 and the Colorado River. The land will be used by Checkmate portfolio company Organics by Gosh™, a leading organic waste processing, composting and soil manufacturing company headquartered in Austin. Organics by Gosh™ is a flagship operation of EcoSoils (d/b/a for Earth Property Holdings, LLC), providing waste intake and collection services regionally and supplying blended soils to the construction, horticultural, landscaping, agriculture and infrastructure industries.
The acquisition was funded in part by a mortgage loan from Citizens National Bank in Round Rock, Texas. The balance of the funding was from Checkmate and EcoSoils CEO Kevin Bolin.
“This land purchase is highly strategic to our EcoSoils platform and provides the foundation for accelerated growth and enhanced operational efficiencies at Organics by Gosh™. The recently constructed warehouse improvements on the property are perfect for our intended uses, as we capitalize on the dynamic global trends in favor of organics at the root of consumer preferences and emerging zero waste regulations. We are thrilled to have closed this transaction and grateful for the hard work of the EcoSoils management team,” said Tom Paschall, Checkmate Capital CEO.
About Checkmate Capital
Checkmate Capital is an investment group managing family office assets and Asian-Pacific institutional funds. Checkmate's primary areas of investment are agricultural bioscience, energy and energy technology, biomedical and biotechnology, and diversified special situations opportunities. With offices in Los Angeles, Beijing and an affiliate office in Singapore, Checkmate's investment partners provide seasoned and diverse expertise in their relevant industries and leverage a powerfully efficient international ecosystem of strategic partners, business talent and resources. Typically, long-term focused, Checkmate's investment approach embodies strategic oversight and an ownership paradigm. For more information please see www.checkmatecapital.net