Distressed Funds

University Commons, South Bend, Indiana
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University Commons is a 100,000 square foot retail center located near Notre Dame University in South Bend, Indiana. At purchase, the property was 37% leased, owned by the lender after foreclosure and in need of a face lift and revitalized leasing effort. Baceline has purchased the property at $18 per square foot and will renovate the exterior and implement a targeted leasing plan to add long term value to the center.

Stoney Pointe, Des Moines, Iowa
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Stoney Pointe is a 33,000 square foot retail center located on a major arterial route in Des Moines, Iowa. At purchase, the property was 60% leased, owned by the lender after foreclosure and in need of active management to lease the property back up to stabilization. Baceline has purchased the property at 14% capitalization rate and has implemented a new leasing plan to fill the vacancies in the center at better then competitive lease rates. Because of its prime location, the property is positioned to rebound as the general economic environment strengthens.