Baceline Investments (now operating as Baceline Group) is a Denver-based private real estate investment and management firm founded in 2003 by David Puchi, Doug Arnold, and Craig Zoellner. The company focuses exclusively on acquiring and managing neighborhood shopping centers in secondary and tertiary markets across the central United States. The firm employs a vertically integrated operational model, maintaining in-house leasing, property management, and asset management teams rather than outsourcing these functions. Baceline targets Class B or higher necessity-based retail centers featuring tenants providing everyday goods and services in markets with population growth and reduced competition from institutional investors. The investment strategy emphasizes long-term hold periods and cash-flowing properties in value-rich markets across the Rocky Mountain Region, Southwest, and Midwest. As of 2022, the Core Income Fund portfolio exceeded 100 properties spanning 15 states, representing more than $430 million in assets under management. The company maintains regional operations teams covering six geographic zones: Upper Midwest, Great Lakes, Great Plains, Lower Midwest, Southeast, and Southwest. By 2021, the portfolio included approximately 2.5 million square feet of retail space leased to nearly 900 local and national tenants. Baceline concentrates holdings in secondary markets throughout Illinois, Indiana, Kansas, Missouri, Arizona, Texas, Georgia, Tennessee, Wisconsin, Arkansas, Alabama, and other central U.S. states.