Denver-based Baceline Investments, has secured a $125 million senior credit facility from KeyBank. The capital will be used for acquisitions.
DENVER (Feb. 14, 2018) – Baceline Investments, LLC, a private real estate investment and management company with neighborhood shopping center holdings throughout the Central United States, today announced the establishment of a new syndicated loan relationship with KeyBank National Association.
KeyBank National Association is the lead bank in the $125.0 million senior secured credit facility for the Baceline Income Property Holding Company, LLC. The syndication is comprised of national and international banks. The facility includes an accordion feature to increase the loan commitment up to a maximum of $250 million, providing flexibility as the portfolio grows. Proceeds from the facility will be used primarily for acquisition purposes.
In December 2017 Baceline completed a $153 million recapitalization with KeyBank, including 27 properties, creating a new income-producing investment vehicle for Baceline’s investor base.
“The facility partnership with KeyBank National Association is an exciting milestone for us and elevates Baceline to a new level, providing a strong foundation and framework for future growth,” said David Puchi, Baceline’s Managing Partner. “Our longstanding relationship with Key ensures that we are able to grow our portfolio of stable, income-producing properties to 200 properties over the next 3-4 years. The resulting portfolio will be perfectly positioned for a favorable public or large scale private institutional exit.
Baceline’s investment niche focuses on holdings in the country’s heartland and is designed to benefit investors who seek to earn consistent, meaningful levels of distributable income from their investment portfolio. The properties are neighborhood shopping centers offering everyday goods and services to the local communities.
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.