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BLUELINE EQUITY PARTNERS, LLC

we are a Denver-based, full-service private real estate investment firm specializing in the acquisition, redevelopment, management, and disposition of multifamily properties.

 

ABOUT US

Blueline Equity Partners (BEP) is a Denver-based, full-service private real estate investment firm specializing in the acquisition, redevelopment, management, and disposition of multifamily  and commercial properties.

Founded in 2007 by Steve Daniel and Morgan Reynolds, the firm has acquired, sold, or still operates well over $100 million worth of multifamily assets. BEP partners with qualified private equity investors to acquire targeted properties that meet well defined return thresholds.

BEP prides itself on the following:

  • Experienced Management Team (20+ years)
  • Low Overhead
  • Conservative Underwriting
  • Thorough Due Diligence
  • Hands On Operating Style
  • Strong banking and brokerage relationships
  • Fiduciary Responsibility
  • Repeat Investors 
 
 

EMAIL

info@bluelineequitypartners.com

 

Phone

(720) 893-0909

 

ADDRESS

PO Box 460282
Denver, CO 80246

 

 

PARTNERS

morgan reynolds

Morgan Reynolds is a founding partner of Blueline Equity Partners. A native of Denver, Colorado, Morgan has worked in the multifamily space for over 20 years. Read More » 

STEVE DANIEL

Steve Daniel is a founding partner of Blueline Equity Partners. Steve’s focus within the partnership has been deal
sourcing, debt and equity sourcing, and construction management of their various projects. Read More »

 

Mark reynolds

Mark Reynolds is a partner and the Chief Operating Officer for Blueline Equity Partners. He oversees the daily
operations of properties within the Blueline Portfolio. Read More »

ALYSON BLU

Alyson Blu is a partner and the Chief Financial Officer for Blueline Equity Partners. Alyson has been an account
manager for 19 years. Read More »

OUR OBJECTIVES

BEP underwrites all projects, regardless of specific property objectives, with 3 primary goals in mind:

  1. Preservation of Invested Capital
  2. Income Generation
  3. Long Term Growth and Gain

All projects offer investors a preferred return, and the general partner does not participate in cash flow or profits interest until all invested principal is returned AND preferred return thresholds are met. 

BEP co-invests in every partnership.

BEP only proceeds with partnerships that project a minimum lifetime IRR in the low to mid teens, and a tax advantaged annual cash flow above 6%.

BEP typically acquires properties at well below replacement cost.

BEP has a fee structure lower than industry average. 

Typical hold period is 7-10 years, unless higher than targeted returns can be achieved by an earlier disposition.

Any number of unknowns can impact whether a deal will work or it won’t. What I do know is that Morgan and Steve take the stewardship of the capital entrusted to them seriously, and that they will squeeze every bit of value out of an asset, irrespective of market conditions.
— Colorado Investor

PRIMARY PROPERTY TYPES

VALUE ADd: OPERATIONS

Projects where BEP can add value through a combination of operating efficiencies, revenue increases, and expense reductions.

VALUE ADD: RENOVATION

Projects where BEP can ad value by repositioning the property via significant renovation.

 

INCOME GENERATION

Projects that meet income and return objectives immediately.

 

MOUNTAIN PROPERTIES

Based on significant research and experience, BEP feels there is opportunity in certain mountain and resort locations.

EMERGING & SECONDARY MARKETS

Projects that are “off the radar” of traditional buyers, or located in markets we feel present excellent future growth and value.

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COMPANY HOLDINGS

Currently Owned Properties

Property Location Units Purchase Price Equity Amount Lender Purchase Date Current Yield Projected IRR
Cottonwood Greeley, CO (map) 96 $4,925,000  $1,750,000 Guaranty Bank and Trust January 2013 9% 14%
Park Manor Longmont, CO (map) 68 $5,250,000  $2,400,000 Guaranty Bank and Trust February 2014 8% 16%
Village Condos Evans, CO (map) 20 $2,300,000  $1,100,000 FirstBank November 2014 8% 14%
Fox Run Fraser, CO (map) 64 $5,650,000  $2,400,000 First Western Trust July 2016 7% 14%
Fillmore Ridge Colorado Springs, CO (map) 114 $10,650,000  $3,450,000 Freddie Mac December 2016 9% 15%
The Buttes Loveland, CO (map) 111 $21,200,000  $6,500,000 Freddie Mac July 2017 6% 14%
Northridge Gretna, NE (map) 108 $10,300,000  $4,000,000 Freddie Mac May 2018 6% 13%
Greenhouse Omaha, NE (map) 129 $17,600,000  $7,530,000 Fannie Mae November 2018 6% 14%
Fireside Colo. Springs, CO (map) 108 $13,600,000  $5,365,000 Freddie Mac November 2018 6% 13%
Hillcrest Durango, CO (map) 112 $19,800,000  $7,500,000 Freddie Mac May 2019 7% 13%
Val Verde Apartments La Vista, NE (map) 84 $6,500,000  2,700,000 Freddie Mac June 2019 6% 12%
Totals   1,014 $117,775,000 $48,495,000        

 

Previous Projects

Property Location Units Purchase Price Equity Amount Lender Purchase Date Sales Price Per Unit Cash on Cash Equity Multiple IRR
Parkview Denver, CO (map) 24  $950,000  $650,000 Chase March 2007 $2,600,000 $114,583 35,0% 1.35x 21%
Albion Denver, CO (map) 34  $1,550,000  $1,000,000 First American State Bank September 2007 $3,852,000 $113,294 27,5% 1.28x 19%
1140 S. Bellaire Glendale, CO (map) 40  $2,000,000  $850,000 Fannie Mae March 2008 $3,650,000 $91,250 39,2% 1.39x 9%
1190 S. Bellaire Glendale, CO (map) 27  $1,230,000  $800,000 Chase September 2007 $2,500,000 $92,593 27,5% 1.28x 19%
Trafalgar Glendale, CO (map) 74  $4,400,000  $2,600,000 Fannie Mae December 2008 $8,700,000 $117,568 73,3% 1.73x 13%
Cherry Creek Place Denver, CO (map) 144  $5,900,000  $2,800,000 Freddie Mac August 2009 $9,650,000 $67,014 87,3% 1.87x 19%
13th Street Apartments Denver, CO (map) 18  $1,050,000  $1,320,000 Chase February 2011 $2,750,000 $152,778 89,5% 1.89x 28%
Table Mountain Golden, CO (map) 29  $2,150,000  $2,400,000 Guaranty Bank and Trust May 2011 $3,600,000 $124,138 89,0% 1.89x 39%
The Birch Glendale, CO (map) 129  $6,200,000  $2,100,000 Freddie Mac November 2011 $14,000,000 $108,527 143,4% 2.43x 28%
Park Point Glendale, CO (map) 61  $3,550,000  $1,600,000 Fannie Mae November 2011 $6,900,000 $113,115 124,1% 2.24x 52%
Infinity Denver, CO (map) 116  $6,380,000  $3,400,000 Freddie Mac May 2011 $17,200,000 $148,276 115,2% 2.15x 34%
Four Mile Denver, CO (map) 115  $6,496,000  $3,350,000 FirstBank December 2012 $17,500,000 $152,174 102,0% 2.02x 30%
Vantage Point Denver, CO (map) 115  $8,625,000  $3,000,000 Chase July 2013 $13,900,000 $120,870 90,7% 1.91x 40%
The Timbers *(1) Crested Butte, CO (map) 44  $1,500,000  $1,750,000 Guaranty Bank and Trust January 2013 $7,700,000 $175,000 TBD TBD TBD
Totals   970 $51,981,000 $27,620,000     $114,652,000 $120,798      

Notes: 1 - Condo conversion completed in 2016

Contact Blueline Equity Partners, LLC

Phone

(720) 893-0909

ADDRESS

PO Box 809
Conifer, CO 80433