Colorado Investment Firm Grows Indiana PortfolioPosted: Updated:
Colorado-based Baceline Investments LLC has announced the $2.5 million acquisition of an Indianapolis retail center. With the addition of the Madison & Edgewood Shoppes, the company now has four properties in the state. February 16, 2015
DENVER, Col. - Baceline Investments, LLC, a boutique private equity real estate investment and management company with retail holdings throughout the Central United States, announced today the firm has completed the acquisition of Madison & Edgewood Shoppes, a retail center in Indianapolis.
Baceline acquired the 48,716-square-foot retail center, located at 5855 Madison Ave. in a mature and affluent area of the city, for $2.5 million from Florida-based HPH FUND I D4, LLC, an affiliate of HPH Capital Management, LLC. Currently at 68 percent occupancy, the property presents an opportunity for Baceline Investments to add value through new leasing. Notable tenants include Great Clips, Edward Jones, Hallmark and Edgewood Family Dental. The retail center’s anchor tenant, Kroger, is not part of the acquisition.
Madison & Edgewood Shoppes is the fourth Indiana-based retail center owned by Baceline Investments. The firm also owns Center West in South Bend, Raceway Commons in Indianapolis, and Lafayette Marketplace in Lafayette.
“Baceline Investments is thrilled to announce the Madison & Edgewood closing,” said David Puchi, managing partner of Baceline Investments. "We continue to seek out and focus on opportunistic real estate in America’s heartland communities. We have developed a strategic leasing plan to positively impact the retail center which will ultimately enhance the surrounding neighborhood.”
According to Puchi, the acquisition aligns with Baceline’s value-add strategy of seeking real estate that can provide attractive returns by placing high value on improving the quality of management and maintenance of the property so it benefits the surrounding neighborhood and community.
The Baceline Opportunities Fund, a part of the firm’s Value-Add strategy, is designed to invest in commercial properties or loans that have unrecognized potential because they are distressed or otherwise have neglected ownership.
About Baceline Investments
Founded in 2003, Baceline Investments, LLC is a Denver-based privately held boutique real estate investment company that specializes in the acquisition, management, and sale of necessity-based shopping centers in select secondary markets across America's Heartland. This unique geographic focus allows investors to better diversify their investment portfolio while avoiding exposure to overly competitive larger markets and the more cyclical coastal regions. For more information, visit www.bacelineinvestments.com.
Source: Baceline Investments LLC