Baseline East Development
2830-2900 Baseline Road, Boulder, CO

In December of 2008, Baseline East was purchased (along with Baseline West) as a re-development project in Boulder, Colorado. The site is comprised of three parcels that make up a total of 1.1389 acres just east of U.S. 36. The two investments (Baseline East and Baseline West) contain over 21,345 square feet in total of mostly leased and outdated improvements; however, the location is arguably one of the best development opportunities in the City of Boulder due to the close proximity to the University of Colorado, student housing and tremendous traffic counts. The site is located at the on / off ramp to the Boulder Turnpike, which serves as the major highway system linking Boulder to the neighboring communities.

Signature Partners, through its Investor relationships, was successful in raising $3.5M in initial equity to capitalize and participate in this joint venture with Jim Loftus of Loftus Developments, Inc. and Bruce Dierking, both of which have been development partners in other investment ventures over the years. Jim , a leading developer in Boulder County for over 30 years, and Bruce , a talented and successful attorney and developer, have a track record of many successful marquee developments around town. Bruce and Jim approached us after placing the properties under contract to raise the majority of the equity and participate with them in the redevelopment effort. The four of us combine to provide a very strong, experienced and hard working Development Team.

At the time of acquisition, all three of the east side buildings were leased (with Owner termination rights), which provided a cash flow that managed the hold costs while in the entitlement process. It is currently anticipated that the east side of the project will begin construction in 2011 with approximately 15,000 square feet of high-end, in-line retail. The units will range from 1,200 to 3,000 square feet, several of which having second floor decks that will take advantage of the incredible mountain views.