Baceline Group
Baceline Group is a private, Denver-based real estate investment firm that acquires, leases, and manages unanchored Neighborhood Shopping Centers across 21 U.S. states through its Core Income Fund and in-house operations, serving 1,500+ small business and brand tenants.
- Company typePrivate
- Founded1998
- HeadquartersDenver, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Baceline Group does
Baceline Group is a privately-held, Denver-based real estate investment firm founded in 1998 that invests exclusively in unanchored, necessity-based Neighborhood Shopping Centers across the United States. As of 2024, the company owns and operates 132+ Neighborhood Shopping Centers spanning 21 states, supported by $583 million in cumulative equity raised across 10 income funds and a workforce of 69 associates organized into six regional teams (Upper Midwest, Lower Midwest, Great Plains, Great Lakes, Southeast, Southwest).
The firm's platform is vertically integrated across the full investment lifecycle. Investment activities are executed through the Core Income Fund, a private equity real estate vehicle that acquires necessity-based multi-tenant centers. All leasing, property management, and construction services are performed in-house by dedicated teams, with regional coverage supplemented by relationships with local and regional brokers. On the tenant side, Baceline serves a base of 1,500+ tenants — over 75% small businesses alongside select national and regional brands — and provides a proprietary Small Business Hub that includes the SCORE Mentor Match Program, Baceline Boost video series, Ask the Expert webinar series, Tenant Tips content, a Tenant Portal for billing and rent payments, and an Investor Portal for stakeholder reporting.
The business model generates revenue primarily through rental income from the owned portfolio, supplemented by in-house property management fees and leasing/construction services. Tenant retention stands at 84%, and the firm emphasizes necessity-based and e-commerce-resistant retail categories to support stable, recurring income. Baceline is privately held with no disclosed parent company or venture capital backing, and key executives include President Brian Capstick, EVP of Operations Lindsey Reevie, SVP of Leasing Ryan Vickers, and VP of Capital Development Matt Toczylowski.
Baceline Group firmographics
Firmographics- Name
- Baceline Group
- Legal name
- Baceline Group
- Website
- https://bacelinegroup.com
- Company type
- Private
- Founded year
- 1998
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Baceline Group is a private, Denver-based real estate investment firm that acquires, leases, and manages unanchored Neighborhood Shopping Centers across 21 U.S. states through its Core Income Fund and in-house operations, serving 1,500+ small business and brand tenants.
- Ownership category
- akta.pro rank
Where Baceline Group is headquartered
LocationHeadquarters
- HQ city
- Denver
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Baceline Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D
Revenue model
- Rental Income: Rental income from tenants occupying space in their 132+ Neighborhood Shopping Centers across 21 states
- Property Management Services: In-house property management services provided to own portfolio properties
- Leasing Services: In-house leasing team working with local and regional brokers to maintain occupancy and tenant mix
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Baceline Group product offering
Product offeringCore offering
Baceline Group is a private real estate investment firm that acquires, owns, and manages neighborhood shopping centers across the United States. The company operates through its Core Income Fund and provides in-house leasing, property management, and construction management services to maximize value across its 132+ property portfolio in 21 states. Baceline supports more than 1,500 tenants, primarily small businesses, with proprietary digital tools including a tenant portal and Small Business Hub.
Product overview
Baceline Group is a private real estate investment firm that operates as a platform of integrated real estate services centered on Neighborhood Shopping Centers. The company's core offering consists of its Core Income Fund (an investment vehicle for necessity-based retail properties), supplemented by in-house leasing and property management services across six regional teams. The platform includes proprietary tenant-facing digital tools (Tenant Portal, Small Business Hub with educational resources including Baceline Boost video series, the Ask the Expert Webinar Series, Mentor Match Program, and Tenant Tips), research publications (Quarterly Market Outlook Reports), and support services (Construction Management, Regional Property Management). The ecosystem works together to provide investors with stable returns while supporting tenant success through education, mentorship, and operational resources.
Differentiator
Problem solved
Functional benefit
Products and services
- Core Income Fund A private equity real estate fund focused on acquiring and managing necessity-based, multi-tenant Neighborhood Shopping Centers across the United States, providing investors with consistent income and long-term value appreciation.
- In-House Leasing Services Baceline's proprietary in-house leasing team working with local and regional brokers to maximize occupancy rates and achieve optimal tenant mix at the firm's neighborhood shopping centers.
- Property Management Expert property management services ensuring operational efficiencies, property maintenance, and maximum value realization for Baceline's Neighborhood Shopping Centers, delivered through six regional teams.
- Tenant Portal Digital portal enabling tenants to view billing history, make rent payments, and access property management information across all Baceline properties and devices.
- Construction Management Services In-house construction team engaged from lease signing through tenant occupancy, working with property management and leasing departments for seamless project coordination.
- Small Business Hub Proprietary resource center for Baceline tenants providing educational content, mentorship programs, webinars, and business strategy resources to help small businesses succeed.
Quantifiable outcome
- 84% tenant retention rate demonstrates strong tenant satisfaction and operational excellence
- +2 more outcomes
Companies that use Baceline Group
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles3 records
Baceline Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Baceline Group partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- SCORE FoundationcoreThrough partnership with SCORE Foundation, Baceline tenants can access free, one-on-one mentoring from experienced business professionals in their geographic area and industry. The Mentor Match Program offers expert advice, actionable insights, and guidance on small business best practices to help tenants succeed.
Scale indicators11 records
Recent moves11 records
Expansion highlights6 records
Baceline Group competitors and assessment
Company assessmentDirect peers
- Brixmor Property Group: Public REIT (NYSE: BRX) that owns and operates a national portfolio of open-air shopping centers, directly comparable to Baceline's unanchored Neighborhood Shopping Center strategy. Similar small-shop tenant focus and active asset management approach.
- Phillips Edison & Company: Public REIT (NASDAQ: PECO) focused on grocery-anchored neighborhood and community shopping centers. Comparable in tenant mix and small-shop leasing strategy, though more anchored and substantially larger than Baceline.
- InvenTrust Properties Corp. Public REIT that owns and operates necessity-based, open-air shopping centers across the Sun Belt and select growth markets. Closely mirrors Baceline's necessity-based, unanchored focus and small-shop tenant strategy.
- Pine Tree Commercial Realty: Private real estate investment and management firm focused on necessity-based open-air shopping centers across the Northeast. Closely comparable niche focus and vertically integrated owner-operator model, though regionally concentrated.
Broad incumbents
- Regency Centers Corporation: Large publicly-traded REIT (NASDAQ: REG) that owns grocery-anchored shopping centers. Operates in the same neighborhood shopping center category but at significantly larger scale and with grocery-anchored rather than unanchored focus.
- Kimco Realty: Major publicly-traded shopping center REIT (NYSE: KIM) with a broad national portfolio of open-air and mixed-use centers. Comparable product category but substantially larger, more diversified, and serves a broader mix of grocery-anchored and unanchored centers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Baceline Group social profiles
Digital presenceBaceline Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Baceline Group leadership team
Management profileNumber of profiles
Profiles6 records
Baceline Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Baceline Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Baceline Group
What does Baceline Group do?
Baceline Group is a private real estate investment firm that acquires, owns, and manages neighborhood shopping centers across the United States. The company operates through its Core Income Fund and provides in-house leasing, property management, and construction management services to maximize value across its 132+ property portfolio in 21 states. Baceline supports more than 1,500 tenants, primarily small businesses, with proprietary digital tools including a tenant portal and Small Business Hub.
Is Baceline Group a public or private company?
Baceline Group is a private company. It is classified as unknown and is currently operating.
When was Baceline Group founded?
Baceline Group was founded in 1998. It employs 101 to 250 people.
Where is Baceline Group based?
Baceline Group is headquartered in Denver, United States, in the North America region.
How does Baceline Group make money?
Three revenue lines are on record. Rental Income is the primary driver. The others are property Management Services and leasing Services.
Who are Baceline Group's main competitors?
Direct peers on record are Brixmor Property Group, Phillips Edison & Company, InvenTrust Properties Corp. and Pine Tree Commercial Realty. Broad incumbents are Regency Centers Corporation and Kimco Realty.
Does Baceline Group have an API?
No public API is recorded for Baceline Group.