DENVER--(BUSINESS WIRE)--Baceline Investments, LLC, a boutique private equity real estate investment and management company with diverse retail holdings throughout the Central United States, has announced the sale of Raceway Commons, a 33,000-square-foot retail center in Indianapolis for $7.9 million. Baceline purchased the property in May 2012 for $4.3 million as part of its No Debt Fund III, an income-producing real estate investment fund.
Located at 55 South Raceway Road and situated on 4.85 acres, Raceway Commons was among five Indiana-based retail properties owned by Baceline. Baceline also owns Madison & Edgewood Shoppes and Eagle Creek in Indianapolis, Western Avenue Shopping Center in South Bend and Lafayette Marketplace in Lafayette. Raceway Commons, consisting of retail and office space in two single-story buildings, was constructed in 2003 and is known for its distinctive architectural style design. It had a 94 percent occupancy rate at time of sale.
“Raceway Commons is another Baceline success story of which we are very proud,” said David Puchi, Baceline’s managing partner. “It continues to reaffirm our strategy of identifying key real estate opportunities in the mid-section of the country. During the four years Baceline owned and managed the retail center, we were delivered 12.6 percent in annual net return to our investors.”
Baceline’s Debt Free Income Strategy launched in 2003, designed to create a diversified portfolio of primarily retail properties throughout the middle of the country. Baceline’s newest fund, the High-Yield Income Fund, is for investors seeking to earn consistent, higher levels of income from their investment portfolio. The fund invests in cash flowing neighborhood retail centers in secondary markets.
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.