Baseline West Development
2700-2750 Baseline Road, Boulder, CO

In December of 2008, Baseline West was purchased (along with Baseline East) as a re-development project in Boulder, Colorado. The site is comprised of four parcels that make up a total of 4.235 acres and is located just west of U.S. 36 on Baseline Road. The two investments (Baseline East and Baseline West) contain over 21,345 square feet combined of mostly leased and outdated improvements; however, the location is arguably one of the best development opportunities in the City of Boulder due to the close proximity to the University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, three of the four buildings on the West side 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 West side entitlements will be completed in 2012, during which time the existing tenants will remain in possession of their buildings and continue to provide a positive cash flow. The ultimate vision for the West side is to combine the sites and obtain entitlements for commercial / retail, apartments, condos, townhomes and a hotel. At that time, we would either develop the entitled sites ourselves of sell a portion to an end user or developer.