Fuqua Retail Center Disposition
Baceline Investments Announces Sale of Houston-Based Park on Fuqua Retail Center
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 sale of Park on Fuqua, a multi-tenant retail center in Houston.
Baceline acquired the 56,604 square foot property in 2008 for $5.9 million. In 2012, Baceline sold a portion of the site, the McDonald’s restaurant pad, for $1.2 million retaining some proceeds for future property developments. The remainder of the property, located at 11101 Fuqua St., was sold to Dhanani Investment Inc, on Jan. 15 for $5.9 million bringing the total sales price to $7.1 million.
The Park on Fuqua retail center was the first property in Baceline’s third debt free income fund. “Over the course of six-plus years that we owned and managed Park on Fuqua, it generated $2.8 million in income for our investors,” said David Puchi, managing partner of Baceline Investments. “Additionally, under Baceline’s ownership and high quality management program it once again became a vibrant and central part of the neighborhood.”
Baceline’s debt free income fund concept was launched in 2003 and currently includes a diversified portfolio of primarily retail properties throughout the middle of the country. Using its “no debt” ownership strategy, Baceline produces income for its investors a simple debt free investment environment.
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 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.