Baceline Investments said it made a big profit on land it bought just two years ago.
The Denver private equity real estate investment company said it sold a property at 10110 E. Dry Creek Road in the Denver Tech Center for $5.7 million.
Baceline said it bought the property two years ago for $1.04 million and developed the site, which is now occupied by Eddie Merlot’s Prime Aged Beef and Seafood Restaurant.
“During the 24-month period that Baceline owned and managed the property, it generated positive income, and 16.2 percent annual net return for our investors upon sale," said David Puchi, Baceline’s managing partner, in a statement.
Read more at the Denver Business Journal: http://bit.ly/29NezCI
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