Key Takeaways
- • GoldenTree Asset Management made a strategic investment in Baceline Group as part of a recapitalization and consolidation of the Denver-based real estate investment manager's open-air retail investment vehicles.
- • The transaction consolidates Baceline's existing investment vehicles into a single fund structure and provides capital to support continued expansion of its retail platform.
- • Newmark advised Baceline on the transaction and sourced the investment from GoldenTree.
- • Financial terms of the transaction were not disclosed.
- • Baceline, founded in 2003, focuses exclusively on U.S. neighborhood shopping centers through a vertically integrated acquisition, leasing and management platform.
Summary
GoldenTree Asset Management has made a strategic investment in Baceline Group, a Denver-based real estate investment manager, as part of a recapitalization and consolidation of the firm's open-air retail investment vehicles, according to the primary report on the transaction. The deal consolidates Baceline's existing investment vehicles into a single fund structure and supplies capital to support the continued expansion of its retail platform.
Newmark advised Baceline on the transaction and sourced the investment from GoldenTree. The financial terms were not disclosed, so the size of GoldenTree's commitment and the post-recapitalization capital structure cannot be determined from the available reporting.
Founded in 2003, Baceline focuses exclusively on neighborhood shopping centers across the United States. The firm acquires, leases and manages retail properties through a vertically integrated operating platform. GoldenTree is a global asset manager investing across credit, real estate, private equity and other strategies; the source article's description of its assets under management was truncated and is not reported here.
Newmark advised Baceline on the transaction and sourced the investment from GoldenTree. The financial terms were not disclosed, so the size of GoldenTree's commitment and the post-recapitalization capital structure cannot be determined from the available reporting.
Founded in 2003, Baceline focuses exclusively on neighborhood shopping centers across the United States. The firm acquires, leases and manages retail properties through a vertically integrated operating platform. GoldenTree is a global asset manager investing across credit, real estate, private equity and other strategies; the source article's description of its assets under management was truncated and is not reported here.
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