Baceline Investments has acquired four shopping malls: Brookfield, Wisconsin-based Capitol Drive; Fort Worth-based North Town Center; Nashville-based Edge O Lake Shoppes; and Clearfield, Utah-based Antelope Plaza. The total price of the acquisition was $18 million.
DENVER–(BUSINESS WIRE)–Baceline Investments, LLC, a boutique private equity real estate investment and management company with neighborhood shopping center holdings throughout the Central United States, has announced the addition of four properties to its portfolio. The shopping centers include Capitol Drive in Brookfield, Wis.; North Town Center in Fort Worth, Texas; Edge O Lake Shoppes in Nashville, Tenn.; and Antelope Plaza in Clearfield, Utah.
Baceline purchased the four retail locations for $18 million, representing more than 131,000 square feet of leasable space. Baceline’s overall portfolio now includes 54 properties, and 2.6 million square feet.
Baceline acquired Capitol Drive Shopping Center (35,015 SF) for $4.3 million; North Town Center (41,070 SF) for $5.78 million; Edge O Lake Shoppes (35,544 SF) for $6.58 million; and Antelope Plaza (19,904 SF) for $1.4 million.
“All four acquisitions align well with our overall investment strategy,” said David Puchi, Baceline’s Managing Partner. “The criteria being neighborhood shopping centers that provide everyday goods and services, internet-resistant tenants, and a geographical focus in America’s heartland. This unique strategy sets us apart and allows us to continue to expand and diversify within communities that offer unlocked potential.”
Baceline’s targeted core income strategy focuses on holdings in the country’s midsection and is designed to benefit investors who seek to earn consistent and higher levels of distributable income from their portfolio.
About Baceline Investments
Founded in 2003, Baceline Investments, LLC is a Denver-based privately held boutique real estate investment and management company that specializes in the acquisition, management, and sale of cash-flowing, necessity-based everyday goods and services neighborhood shopping centers located in select secondary markets across America’s Heartland. By avoiding high-priced and competitive commercial real estate markets on the coasts, Baceline’s Heartland focus provides untapped investment opportunity. This unique approach allows investors to better diversify their investment portfolio. Learn more about Baceline Investments at www.bacelineinvestments.com or LinkedIn.