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SOUTH BEND, IN-Denver-based Baceline Investments LLC has sold the 100,000-square-foot University Commons retail center here to a private medical group. Baceline had purchased this  property and the 88,000-square-foot Western Avenue Plaza out of foreclosure earlier this year.

The sale price was undisclosed, but Baceline principal David Puchi said his company realized a return on the investment. “When we purchased the center in January we saw it as an opportunistic property that had suffered from neglected ownership,” he said in a statement. “The middle of the country, and especially cities similar to South Bend with good employment bases centered on education and healthcare, continues to demonstrate great undiscovered value. So many real estate buyers are chasing and paying premiums on high-end coastal properties.  Our strategy has been to target commercial properties in stable metropolitan areas throughout the nation’s heartland.” 

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