Baceline In The News: Baceline Investments Announces a New $125 Million Credit Facility with KeyBank
Baceline has hit the news once again with our latest press release:
“Our longstanding relationship with Key ensures that we are able to grow our portfolio of stable, income-producing properties to 200 properties over the next 3-4 years. The resulting portfolio will be perfectly positioned for a favorable public or large scale private institutional exit. ” – David Puchi
KeyBank National Association is the lead bank in the $125.0 million senior secured credit facility for the Baceline Income Property Holding Company, LLC. The syndication is comprised of national and international banks. The facility includes an accordion feature to increase the loan commitment up to a maximum of $250 million, providing flexibility as the portfolio grows. Proceeds from the facility will be used primarily for acquisition purposes.
In December 2017 Baceline completed a $153 million recapitalization with KeyBank, including 27 properties, creating a new income-producing investment vehicle for Baceline’s investor base.
“The facility partnership with KeyBank National Association is an exciting milestone for us and elevates Baceline to a new level, providing a strong foundation and framework for future growth,” said David Puchi, Baceline’s Managing Partner. “Our longstanding relationship with Key ensures that we are able to grow our portfolio of stable, income-producing properties to 200 properties over the next 3-4 years. The resulting portfolio will be perfectly positioned for a favorable public or large scale private institutional exit.
Baceline’s investment niche focuses on holdings in the country’s heartland and is designed to benefit investors who seek to earn consistent, meaningful levels of distributable income from their investment portfolio. The properties are neighborhood shopping centers offering everyday goods and services to the local communities.
View the news stories here:
Denver Business Journal
Town Hall Finance
Commercial Finance Assn (CFA)
Minneapolis Star Tribune
Pittsburgh Post Gazette
NBC12 Richmond, VA
Cleveland 19 News