Baceline Investments, LLC, a Denver-based boutique real estate investment and management company, has added two Chicago-area properties to its portfolio of retail holdings. These include Orchard Crossing in Aurora, Illinois and Hickory Creek in New Lenox, Illinois.
Baceline purchased the 21,476-square-foot Orchard Crossing for $2.9 million as part of the firm’s value-add opportunistic strategy portfolio. Baceline also acquired Hickory Creek, a 25,835-square-foot retail center, for $4.56 million as a part of its core income fund.
“Orchard Crossing is an ideal value-add property. Baceline has teams of experts in leasing, property management and construction, all of whom will work diligently to improve the location and maximize this investment,” said Todd Laurie, Baceline partner and executive vice president of investments. “Hickory Creek … will be part of our core income portfolio, one that seeks out strong, income-producing neighborhood shopping centers that are resistant to recession and are unaffected by e-commerce.”
Baceline’s real estate investment strategy focuses on necessity-based neighborhood shopping centers located in markets throughout the U.S. that have value-rich properties at opportunistic prices, less competition and more supply of quality real estate, as opposed to gateway cities. The acquisitions bring Baceline’s total number of properties owned to 60, representing more than $300 million in asset value.