Baceline Investments’ Portfolio Reaches All-time High Representing $300M in Value
DENVER — Baceline Investments, LLC, a boutique Denver-based private equity real estate investment and management company, has added three properties including Orchard Crossing and Hickory Creek near Chicago, and The Crossing southeast of Memphis, Tenn., bringing Baceline’s total number of properties owned to 60, representing more than $300 million in asset value.
Baceline purchased Orchard Crossing, a 21,476-square-foot property in Aurora, Ill., for $2.9 million. It will be part of Baceline’s value-add Opportunistic Strategy portfolio. The firm also acquired two shopping centers for its core income fund including Hickory Creek for $4.56 million and The Crossing for $6.3 million. Hickory Creek is a 25,835-square-foot retail center in New Lenox, Ill. The Crossing is a 42,000-square-foot property located in Olive Branch, Miss.
Baceline’s real estate investment strategy focuses on necessity-based neighborhood shopping centers located in markets throughout the U.S. that have value-rich properties at opportunistic prices, less competition, and more supply of quality real estate, as opposed to gateway cities.
“Orchard Crossing is an ideal value-add property. Baceline has teams of experts in leasing, property management and construction, all of whom will work diligently to improve the location and maximize this investment,” said Todd Laurie, Baceline partner and EVP of investments. “Hickory Creek and The Crossing will be part of our core income portfolio, one that seeks out strong, income-producing neighborhood shopping centers that are resistant to recession and are unaffected by e-commerce.”