Baceline Investments LLC has acquired St. Louis, Missouri-based MLK Plaza, a shopping center. The price of the transaction was $6.35 million.
DENVER (Oct. 19, 2016) – Baceline Investments, LLC, a boutique private equity real estate investment and management company with retail holdings throughout the Central United States, has acquired MLK Plaza, a 46,648-square-foot neighborhood shopping center in St. Louis for $6.35 million. It becomes the second property in Baceline’s High Yield Income Fund portfolio, along with Clinton (Utah) Towne Center, a fund that opened in January.
+MLK Plaza, constructed in 2003, is located at N. Grand and Page Blvd. near Saint Louis University. Currently 94 percent occupied, the shopping center includes key tenants Save-a-Lot, Subway and H&R Block. Anchored by the only grocery store in the vicinity, it serves a densely populated residential area.
“MLK Plaza is well-located near Saint Louis University and an expanding arts district,” said David Puchi, Baceline’s managing partner. “It is a neighborhood retail center that has a track record of producing steady income. Our real estate investment experience in St. Louis has been extremely positive, a trend that we are confident will continue with MLK Plaza.”
Along with Clinton Towne Center Puchi noted that the two properties, located in the country’s midsection, are ideal holdings geared to produce income for Baceline’s High Yield Income Fund. The Fund is designed to benefit investors who seek to earn consistent and higher levels of distributable income from their investment 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 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 geographic focus allows investors to better diversify their investment portfolio. Learn more about Baceline Investments at www.bacelineinvestments.com or LinkedIn.