Baceline Investments, a boutique private equity real estate investment and management company, has acquired three properties for its core income portfolio for an undisclosed amount.
The acquisitions include the 71,602-square-foot Westlane Shopping Center in Indianapolis; Cooper St. Marketplace, a 75,974-square-foot multi-tenant shopping center in South Arlington, Texas; and Tarrant Parkway, a 33,171-square-foot property in Dallas.
Together, the properties amount to 170,000 square feet of retail space.
Baceline invests in necessity-based neighborhood shopping centers located in markets throughout the United States that have value-rich properties at opportunistic prices, less competition, and more supply of quality real estate when compared to gateway cities, according to the company.
With the new acquisitions, the core income fund totals more than $250 million in assets under management, according to Todd Laurie, partner and EVP of investments at Baceline.
The fund is comprised of 49 properties in 15 states — nine of which were acquired this year alone, making it the largest and most diverse portfolio of properties in Baceline’s history.
The fund manages more than 2 million square feet of retail space with a 91 percent occupancy rate.
