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BLUELINE EQUITY PARTNERS, LLC

WE ARE A DENVER-BASED, FULL-SERVICE PRIVATE REAL ESTATE INVESTMENT FIRM SPECIALIZING IN THE ACQUISITION, DEVELOPMENT, REDEVELOPMENT, MANAGEMENT, AND DISPOSITION OF MULTIFAMILY, RETAIL, AND HOSPITALITY PROPERTIES. WE SPECIALIZE IN TAX EFFICENT & TAX DEFERRED IVESTMENTS AND TRANSACTIONS.

 

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, hospitality, and commercial properties.

Founded in 2007 by Steve Daniel and Morgan Reynolds, the firm has acquired, sold, or still operates well over $250 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 (30+ 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

 

ADDRESS

25587 Conifer Road
Suite 105-313
Conifer, CO 80433

 

 

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.

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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. 

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Sarah Knight

Sarah Knight has been providing tax and advisory services to Blueline Equity Partners since its inception in 2008. In May of 2020 Sarah formally joined the team to provide more dedicated financial and deal support. 

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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

ACTIVE HOLDINGS

Property Location Units Purchase Price Equity Amount Lender Purchase Date Current Yield Projected IRR
RS Apartments Rock Springs, WY (map) 306 $13,500,000 $6,500,000 Clearinghouse CDFI Jul 2024 N/A 18%
Denver Extended Stay Premier Hotel Denver, CO (map) 124 Under Construction $6,750,000 Clearinghouse CDFI Feb 2024 N/A 22%
Colorado Springs Extended Stay Premier Hotel Colorado Springs, CO (map) 124 Under Construction $6,750,000 Keystone Bank Mar 2023 N/A 23%
Pueblo Extended Stay Premier Hotel Pueblo, CO
(map | photos)
124 $16,125,000 $6,650,000 First Western Trust Sep 2022 N/A 24%
Basecamp Apartments Montrose, CO (map) 96 + Land $33,500,000 $17,200,000 InBank Jan 2023 N/A 10%
The Cannery Bozeman, MT (map) 52 units + 15,000 SF commercial $31,750,000 $14,188,807 First Western Trust Dec 2021 6% 12%
LoHi Apartments Denver, CO (map) 21 $7,285,000 $2,240,000 First Western Trust Jul 2021 6% 14%
1304 Apartments Durango, CO (map) 20 $8,550,000 $2,700,000 Independent Bank Jun 2021 8% 17%
Overlook at Mesa Creek Colorado Springs, CO (map) 91 $27,285,000 $10,557,409 Freddie Mac Feb 2021 7% 11%
Greenhouse Omaha, NE (map) 129 $17,600,000 $7,530,000 Fannie Mae Nov 2018 6% 14%
Village Condos Evans, CO (map) 20 $2,300,000 $1,100,000 FirstBank Nov 2014 8% 14%
Totals/Average   1,107 $157,895,000 $82,166,216     7% 16%

* Full return of invested capital within 18 months

PREVIOUS PROJECTS

Property Location Units Purchase Price Equity Amount Lender Purchase Date Date Sold Sales Price Per Unit Equity Multiple IRR
Foxhill Apartments Casper, WY (map) 304 $17,950,000 $8,391,963 Freddie Mac Jan 2022 9/27/24 $29,000,000 $95,395 2.2x 38.6%
Skyline Durango, CO (map) 112 $19,800,000 $7,500,000 Freddie Mac May 2019 7/21/2022 $32,750,000 $292,411 2.09x 21%
Flatwater La Vista, NE (map) 84 $6,500,000 $2,700,000 Freddie Mac Jun 2019 7/20/2022 $11,172,500 $133,006 1.92x 24%
Northridge Gretna, NE (map) 108 $10,300,000 $4,000,000 Freddie Mac May 2018 7/20/2022 $16,400,000 $151,852 1.98x 16%
Fireside Colo. Springs, CO (map) 108 $13,600,00 $5,365,000 Freddie Mac Nov 2018 10/28/2021 $20,500,000 $189,815 1.59x 17%
Fillmore Ridge Colorado Springs, CO (map) 114 $10,650,000 $3,450,000 Freddie Mac Dec 2016 10/19/2021 $21,500,000 $188,596 2.81x 29%
The Buttes Loveland, CO (map) 111  $21,075,000  $6,736,000 Freddie Mac July 2017 2/19/2021 $25,500,000 $229,730 1.48x 12%
Cottonwood Greeley, CO (map) 96  $4,925,000  $1,750,000 Independent Bank Jan 2013 12/14/2020 $14,518,000 $151,229 5.91x 31%
Fox Run Fraser, CO (map) 64  $5,650,000  $2,400,000 Independent Bank Jun 2016 3/31/2020 $9,440,000 $147,500 2.17x 23%
Park Manor Longmont, CO (map) 68  $5,250,000   $2,400,000 Independent Bank Feb 2014 7/10/2019 $12,500,000 $183,824 2.22x 19%
The Timbers1 Crested Butte, CO (map) 44  $1,500,000  $1,750,000 Independent Bank Jan 2013 9/13/2016 $7,700,000 $175,000 1.26x 13%
The Birch Glendale, CO (map) 129  $6,200,000  $2,100,000 Freddie Mac Nov 2011 7/14/2015 $14,000,000 $108,527 2.43x 28%
Park Point Glendale, CO (map) 61  $3,550,000  $1,600,000 Fannie Mae Nov 2011 7/14/2015 $6,900,000 $113,115 2.24x 52%
Infinity Flats Denver, CO (map) 116  $6,380,000  $3,400,000 Freddie Mac May 2011 7/14/2015 $17,200,000 $148,276 2.15x 34%
Four Mile Flats Denver, CO (map) 115  $6,496,000  $3,350,000 FirstBank Dec 2012 7/14/2015 $17,500,000 $152,174 2.02x 30%
Vantage Point Denver, CO (map) 115  $8,625,000  $3,000,000 Chase Jul 2013 7/14/2015 $13,900,000 $120,870 1.91x 40%
13th Street Flats Denver, CO (map) 18  $1,050,000  $1,320,000 Chase Feb 2011 3/23/2015 $2,750,000 $152,778 1.89x 28%
Trafalgar Glendale, CO (map) 74  $4,400,000  $2,600,000 Fannie Mae Dec 2008 4/23/2014 $8,700,000 $117,568 1.73x 13%
1140 S. Bellaire Glendale, CO (map) 40  $2,000,000  $850,000 Fannie Mae Mar 2008 7/1/2013 $3,650,000 $91,250 1.39x 9%
1190 S. Bellaire Glendale, CO (map) 27  $1,230,000  $800,000 Chase Sep 2007 7/1/2013 $2,500,000 $92,593 1.28x 19%
Table Mountain Golden, CO (map) 29  $2,150,000  $2,400,000 Independent Bank May 2011 6/28/2013 $3,600,000 $124,138 1.89x 39%
Cherry Creek Place Denver, CO (map) 144  $5,900,000  $2,800,000 Freddie Mac Aug 2009 12/14/2012 $9,650,000 $67,014 1.87x 19%
Parkview Denver, CO (map) 24  $950,000  $650,000 Chase Mar 2007 10/1/2012 $2,600,000 $114,583 1.35x 21%
Albion Denver, CO (map) 34  $1,550,000  $1,000,000 First American Sep 2007 9/15/2008 $3,852,000 $113,294 1.28x 19%
Totals/Average   2,139 $167,806,000 $72,076,963       $307,782,500 $143,679 2.04x 25%

1 Condo conversion completed in 2016

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 add value by repositioning the property via significant renovation.

 

EMERGING & SECONDARY MARKETS

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

MOUNTAIN PROPERTIES

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

Development

Maximizing investor returns by sourcing quality locations, then developing, stabilizing and selling new product.

Hospitality

Developing extended stay hotel properties with best-in-class industry partners.

Income Generation

Projects that meet income and return objectives immediately.

Property Photos

Contact Blueline Equity Partners, LLC

ADDRESS

25587 Conifer Road
Suite 105-313
Conifer, CO 80433