BaseCamp News

YES! Communities Wins Green Challenge

noreply@blogger.com (Andrew) — Mon, 07 Dec 2009 19:55:00 +0000

DENVER, Dec. 1 -- YES! Communities, a Denver based operator of manufactured home communities nationwide, recently won the 2009 Net Impact Challenge. YES! received this award by implementing several environmentally conscious programs at their corporate office. Net Impact is an international nonprofit organization with a mission to inspire, educate, and equip individuals to use the power of business to create a more socially and environmentally sustainable world. Spanning six continents, its membership makes up one of the most influential networks of professionals and students in existence today.

"We intend for our YES! Green program to be an integral part of our corporate culture and approach to property management. In our first year we created several strong green programs that both our corporate staff and employees across the country found engaging and easy to apply. As these programs expand, we hope to realize significant reductions in our company's and customers' energy costs and environmental impacts," explains COO Andrew Luter.

YES! Communities, which consists of 18,571 manufactured homes in 67 communities across the US, began a venture to reduce utility costs and environmental impacts in its office and manufactured home communities. Under the leadership of Jon Braun and Kim Kurz, YES! Green first developed projects at the corporate offices focused on waste reduction, energy conservation and The Green Commute to Work Challenge. The Commuter Challenge drew 63% office participation and accumulated over 21,000 miles by alternative methods of transportation. Through a new paperless accounts payable system, the company has saved 240,000 pieces of paper. The team then brought these practices to their communities through education, which includes several resident flyers that include tips to increase the energy efficiency of their homes and conserve water. Through these successful efforts, the team drastically increased awareness of sustainability actions in manufactured home communities and generated over $340,000 in savings on utility expenses.

Moving on from the success of its first year, the YES! Green program looks to expand to include more programs for residents of YES! Communities. Educational community wide events, as well as ventures into retrofitting its rental homes to increase energy efficiency, are just two of the many new projects YES! Green plans to complete over the next year. It is the hope that considerable utility cost reductions will greatly benefit their current and future residents.

CONTACT: Jon Braun of YES! Communities, +1-303-483-7179, jbraun@yescommunities.com

Yes! Communities Launches Web Site

noreply@blogger.com (Andrew) — Sat, 17 May 2008 15:26:00 +0000

http://www.yescommunities.com

GE Real Estate Provides $270 Million Loan for Acquisition of 67 Manufactured Home Communities in 12 States

noreply@blogger.com (Andrew) — Thu, 17 Jan 2008 17:59:00 +0000

GE Real Estate Provides $270 Million Loan for Acquisition of 67 Manufactured Home Communities in 12 States

Asset is One of the Largest Portfolios of MHCs in the Country

Irvine, CA, March 31, 2008 – GE Real Estate announced today it provided a $270 million loan to Yes! Communities, Inc. for the acquisition of a portfolio of 67 manufactured home communities (MHCs) from affiliates of CMH Parks-Clayton Homes, Inc., a Berkshire Hathaway company. With this acquisition, Yes! now has the one of the largest portfolios of MHCs in the U.S. with properties in 12 states, with concentrations in Texas (Dallas/Houston/San Antonio), Florida (Tampa/Jacksonville) and Tennessee (Nashville/Knoxville).

Yes! Communities is a joint venture between BaseCamp Capital of Denver, CO, a real estate private equity group with a focus on manufactured housing, and Stockbridge Real Estate Funds, a real estate fund group based in San Francisco, CA, which has invested over $5.5 billion in real estate assets.

“GE Real Estate’s manufactured housing team has their pulse on the industry and proved to be a strong and dependable financial partner. The GE team worked closely with to get this complex transaction completed,” said Andrew Luter, Chief Operating Officer for Yes! Communities. “Given the recent economic downturn and the fallout from the subprime mortgage crisis, we need affordable housing in this country now more than ever. Our company is committed to meeting this need with a positive housing value and a Yes! attitude for both existing and prospective residents.”

“Yes! Communities will benefit from its acquisition of an institutional quality portfolio located in primary markets,” said Art Tuverson GE’s director, Manufactured Home Communities. “Its experienced management team is well-positioned to drive cash flow growth by providing quality affordable housing.”

GE Real Estate’s North America Lending division offers financing for retail, industrial, self-storage, multifamily, office, student housing, regional malls and outlet centers. North America Lending is also a provider of financing solutions for niche asset classes including affordable housing, golf, hospitality, vacation ownership, manufactured home and RV resort communities.

GE Contact:
Bernhard Klein Wassink
203/750-3317
bernhard.kleinwassink@ge.com

HLB Communications, Inc.
Pamela Flores
312/649-0371
pflores@hlbcomm.com

Notes to editors:

About GE Real Estate
GE Real Estate (www.gerealestate.com) is one of the world's premier commercial real estate companies with more than US$79 billion in assets and a presence in 32 countries throughout North America, Europe, Asia, and Australia/New Zealand. Backed by GE's AAA rating, GE Real Estate offers a comprehensive range of capital and investment solutions including equity capital for acquisition or development, as well as fixed and floating rate mortgages for new acquisitions or re-capitalizations of commercial real estate. With a 28% compound annual growth rate since 1993, GE Real Estate is one of the world's fastest growing and most profitable real estate enterprises. This extraordinary record of success grows out of a reputation for collaboration and partnership; a depth of knowledge and experience and a history of building relationships, finding opportunities and opening doors for more than 5,000 owners, builders, borrowers and brokers worldwide.

GE Commercial Finance (www.gecommercialfinance.com) offers businesses around the globe an extensive array of financial products and services. With more than US$310 billion in assets and expertise in the middle-market, GE Commercial Finance provides loans, operating leases, financing programs and innovative structured capital to help customers grow. Headquartered in Norwalk, Connecticut, GE Commercial Finance is a wholly owned subsidiary of GE (NYSE:GE), a diversified services, technology and manufacturing company with operations worldwide.

DENVER-BASED REAL ESTATE PRIVATE EQUITY GROUP TO PURCHASE LEADING MANUFACTURED HOUSING PORTFOLIO

noreply@blogger.com (Andrew) — Mon, 30 Jul 2007 21:24:00 +0000

Agreement reached with the nation's number one retailer of modular and manufactured homes

DENVER (July 30, 2007) – Today, BaseCamp Capital LLC, a Denver-based private equity incubator specializing in real estate ventures, announced that it has entered into a contract to purchase the community assets of CMH Parks, Inc. of Maryville, Tenn. CMH Parks, Inc. is a wholly owned subsidiary of Clayton Homes. BaseCamp will partner with Stockbridge Real Estate Funds of San Francisco on the transaction.

The portfolio consists of 65 manufactured housing communities in 11 states throughout the country. It is BaseCamp's intention to continue operations of the more than 18,000 individual home sites. The BaseCamp management team has more than 100 years of combined experience operating similar portfolios, including that of Chateau Communities of Denver.

"We have known and worked with BaseCamp's principals for 20 years," says Kevin Clayton, CEO of Clayton Homes. "Our companies share the belief that communities thrive on the strength of relationships. Given this group's reputation in the industry, we know our residents and team members will be greatly valued."

According to Gary McDaniel, senior managing director of BaseCamp Capital, the company sees “this portfolio as a solid foundation to provide a truly affordable housing solution to the communities in which they are situated." BaseCamp is committed to growing and strengthening these communities for the benefit of current and future residents.

"We are delighted to have the opportunity to partner with the principals of BaseCamp Capital,” said Terry Fancher, executive managing director of Stockbridge. “Their management team represents the ‘best in class’ in the manufactured home community industry and we believe that their broad experience will be a critical element to the success of this transaction."

No further details of the transaction have been released.

About BaseCamp Capital
BaseCamp Capital LLC (www.basecampcapital.com) is a Denver-based real estate private equity group focused on specialty real estate transactions. The company has been operating since 2004, and has a strong focus on the manufactured housing sector. The firm is headed by several former principles of Chateau Communities, a Denver-based manufactured housing REIT which operated in excess of 200 communities nationwide.

About Clayton Homes
Clayton Homes and its subsidiaries (www.clayton.net) make up a vertically integrated manufactured housing company with 41 manufacturing plants, distributing through 451 company-owned retail outlets, and more than 1200 independent retailers and owns and operates 13 subdivisions. Clayton and its subsidiaries also provide specialty financing and insurance products.

About Stockbridge Real Estate Funds
Stockbridge Real Estate Funds are a series of real estate partnerships capitalized primarily by public and private pension funds. Stockbridge is managed by Stockbridge Capital Group, LLC, a real estate investment firm with extensive experience in real estate acquisitions, development and management. Since 1994, the senior professionals of Stockbridge Capital Group have invested in more than $8.5 billion of real estate in a variety of property types. Stockbridge is headquartered in San Francisco and has offices in Los Angeles and New York.

BaseCamp Portfolio Company to Restore Facade of Old St. Elmo Hotel

noreply@blogger.com (Andrew) — Wed, 28 Mar 2007 16:58:00 +0000

From the Denver Post

Mike Plante, of BaseCamp Capital portfolio company A.H. Root, plans to spend at least $1 million restoring the historic St. Elmo Hotel in Lower Downtown.

Plante paid $4.1 million for the 18,214-square-foot building at 1433 17th St. He bought it recently from the Cage Williams Abelman law firm, which will lease back the property until it determines where to relocate.

"They decided to put the property on the market to take advantage of some of the market conditions," said Darrin Revious, a broker with Frederick Ross who represented the firm.

Plante plans to restore the building's facade and list it on the National Register of Historic Places. He wants to start work in the next few months and finish the renovations by early winter.

"It's one of those quintessential buildings in LoDo that's unlike any other," Plante said. "It's a corner (17th and Market streets), and it's unique in its size and appearance."

Plante will present his plans to the LoDo Design Review Board on April 5.

When it was built in 1896, the St. Elmo Hotel joined a plethora of small hotels clustered in LoDo to serve railroad travelers. It remained a hotel well into the 20th century, then stood vacant for a number of years.

When it was renovated in the 1980s, the building's first-floor facade was removed and garden- level windows were built in. Over the years, it has housed oil firms, small businesses and law firms.

Plante also has completed historic renovations on Platte Street, including the A.H. Root Building, home to Sushi Sasa, and the Zang Building at the base of the new Highland Bridge.

Collective Intellect Launches Next Generation of Media Intelligence

noreply@blogger.com (Andrew) — Tue, 13 Mar 2007 18:55:00 +0000

Collective Intellect Launches Next Generation of Media Intelligence,

a Comprehensive Media Research Tool Targeted to Financial Community

BOULDER, Colo., March 12, 2007 – Collective Intellect, Inc., (CI) an innovative provider of solutions enabling executives to obtain highly-relevant and critical pieces of information from unstructured online data sources, announced today the availability of the next generation of its Media Intelligence service, a comprehensive media research solution targeted to institutional investors, hedge fund traders and the broader financial community.

“We have added many important features to our solution, based on feedback from traders and analysts who are eager to refine their research strategies by receiving more targeted and relevant information quickly,” said Don Springer, chief executive officer of Collective Intellect. “Collective Intellect’s ability to take unstructured data, filter it and deliver only the most relevant information makes it a ‘must have’ research tool to complement other services used by the investment community, such as Bloomberg.”

CI’s filtering approach includes three phases. First, CI creates TopicNets for all content areas that are of interest to institutional investors. A TopicNet is a collection of content sources which are related to a single topic. With its TopicNet algorithm, CI can identify and rank the most credible sources of information, which is a critical part of CI’s differentiation from other tools that attempt to filter unstructured data. Second, CI’s technology eliminates irrelevant, duplicate, or splog-sourced information. Finally, each individual posting is ranked for relevancy using an adaptive, multi-factor algorithm which incorporates feedback from end-users through a content voting system. This approach ensures that individual users receive content that is most relevant for their own investment research requirements.

"There is a great deal of highly relevant, and often untapped, information about companies, products, consumer trends and hot button issues to be found in the unstructured text in blogs, message boards and other types of new media”, said Fern Halper, Partner at analyst firm Hurwitz & Associates. “Solutions such as those offered by Collective Intellect cull this unstructured text and can provide traders, analysts and others with targeted and relevant information that they can use in their decision making process

Principal features of Collective Intellect’s new solution include:

Real-time feeds of blogs, message boards and other types of unstructured data, combined with traditional news media
Simple, easy-to-read user interface that gives traders an immediate view into what’s happening now with the stocks, sectors and industries they track
Minute-by-minute refreshes of content
Intuitive methods for refining searches about tickers and themes
Hosted desktop and email delivery

About Collective Intellect

Collective Intellect, Inc. specializes in comprehensively tracking, filtering and ranking media content for the largest Wall Street trading firms and the Fortune 500. The company’s management team has worked in business intelligence for a combined 50+ years, creating tools to solve the challenge of filtering unstructured information. The company’s breakthrough technology helps analysts and portfolio managers in financial services, and a wide range of executives within enterprises uncover valuable, relevant nuggets of information that reside in the vast amount of unstructured data available today, including blogs, message boards and chat rooms as well as traditional media.

Customers include some of the largest trading desks on Wall Street, Fortune 100 consumer goods manufacturers and Fortune 100 pharmaceutical companies. Collective Intellect is headquartered in Boulder, Colorado, and is funded by Appian Ventures and other investors.

# # #

Avid4 In the News

noreply@blogger.com (Andrew) — Mon, 05 Mar 2007 19:22:00 +0000

There was a great article in this weekend's Denver post about David Secunda and our portfolio company Avid4 Adventure.

An excerpt:

"Before kids, you threw your tent and cooler in the back of the car, strapped your bike on top, made a quick stop at King Soopers and Applejack Liquors on your way out of town - and you were gone, baby, gone.
And then the kids came along. With each new child, the amount of gear, planning time, cleanup time, cargo space and negotiation skills required for an outing increases logarithmically.
So now your idea of an exciting weekend activity is Saturday at Target, am I right?
You have to take three days off work to prepare for a weekend skiing trip and another three days afterward to recover.
David Secunda saw a market opportunity four years ago among people who came to Colorado for the outdoor lifestyle, then settled down and started a family."

The entire article can be found here

Highland Bridge Press Coverage

noreply@blogger.com (Andrew) — Mon, 11 Dec 2006 16:52:00 +0000

There was a nice article in yesterday's Denver Post about the Highland Bridge project. The bridge, which opens next Saturday, is directly adjacent to the Zang Building, one of The Fund's newest acquisitions.

" Ice slicked the morning streets, snow fell, rush-hour traffic clumped and limped, but 13 people made it to a coffee shop to sit around a big table, nurse hot beverages and talk about something important.
A bridge.
Over a highway.
The prospect of jawing about a new urban bridge might not compel many to brave winter treachery. But to these folks, the soon-to-be-complete Highland Bridge is much more than just an arc of concrete and steel.
It marks a reunion. "

Collective Intellect Starts Blog

noreply@blogger.com (Andrew) — Wed, 06 Dec 2006 00:07:00 +0000

The management team at Collective Intellect have started a blog titled "New Media Intelligence". It is an interesting look behind the scenes of a pioneer in the new media filtering, or intelligence amplification, space.

Collective Intellect Makes the News

noreply@blogger.com (Andrew) — Wed, 06 Dec 2006 00:04:00 +0000

Read the Cnet Article Here: Putting blogs to work for Wall Street

"The system examines about 150,000 new postings a day. Then it analyzes them for sentiment--is it causing a stock to go up or down?--and credibility. The company then sends out data feeds and e-mails on stock activity and interesting news to subscribers."

BaseCamp Fund Makes Major Investment In Denver's Central Platte Valley

noreply@blogger.com (Andrew) — Mon, 04 Dec 2006 18:38:00 +0000

Today BaseCamp Clayton Investors, LLC ("The Fund") announced a substantial investment in The A.H. Root Building, LLC. A.H. Root maintains prominent commercial real estate holdings in Denver's rapidly developing Central Platte Valley. The investment represents the fund's first major foray into Denver's Commercial Real Estate Market.

Since 2000, Denver’s Central Platte Valley has been undergoing phenomenal redevelopment; turning rail yards, dilapidated warehouses and viaducts into a thriving, mixed-use urban neighborhood. Initial development included a Platte River waterfront reclamation and trail system, two large urban parks, and a series of architectural bridges to connect this area to both the city, and the western neighborhoods of The Highlands.

This infrastructure investment and revitalization has spurred extraordinary residential developments built to take advantage of the proximity to downtown, the river and the outdoor amenities now offered along its banks. In the last decade, more than 2300 housing units have been developed in the zone – most in the form of high-end loft-style condominiums and apartments.

Commercial development has fed off of the resultant population explosion, with several high-end restaurants, wine shops, fitness facilities, café’s, bike stores, and a large outdoor equipment retailer making their home in the district. Recent additions include an organic grocery and an environmentally-friendly dry cleaner – both targeting the affluent demographic of the area. Plans are currently underway to redevelop the adjacent Denver Union Station into a major intermodal transit facility with substantial commercial development.

The Central Platte Valley has also become Denver’s hub of entertainment and is the home to Six Flags Elitch Gardens, the 20,000-seat Pepsi Center, the 106,000-square-foot Downtown Aquarium and popular children’s museum. Also in development is the 25,000-square foot Museum of Contemporary Art, due to open in 2007.

While residential and commercial development has flourished in the district, little space has been reserved for the development of commercial office space – which is in high demand in the area. With little more than 400,000 square feet available in the entire Central Platte Valley, rents have jumped from $17.29/SF in 2004 to the $22.00/SF range today, while occupancy rates approach 100%.

Nearly one quarter of the available office space is controlled by A.H. Root Building, LLC. This space is located in the A.H. Root Building and the Zang Building, each with nearly 50,000 square feet of net rentable space. Both of these buildings have undergone extensive renovation, and are almost fully leased. The Zang building has recently been updated both inside and out, and is located directly adjacent to the new Highland’s Bridge and pedestrian park.

This acquisition is further highlighted by The Fund's ability to partner with Mike Plante, of Plante Properties, who has a long history in the Denver real estate market. The Fund and Plante are currently planning the creation of a parallel commercial real estate fund which would target similar quickly-developing districts in and around Denver.

Antelope Ridge Wins Four 2006 Parade of Homes Awards

noreply@blogger.com (Andrew) — Thu, 07 Sep 2006 20:49:00 +0000

BaseCamp Development LLC, a BaseCamp Capital portfolio company, recently announced that it has won four awards for its entry in the 2006 Housing and Building Association of Colorado Springs annual Parade of Homes, the Eagle Mountain. The Eagle Mountain is located in Antelope Ridge, a new home community at Barnes and Marksheffel roads in El Paso County, developed by BaseCamp Development.

The Eagle Mountain took the Industry Award of Excellence for Best Master Suite, Best Architectural Exterior, and Best Value. The Industry Awards of Excellence were judged by panel of judges from Boulder, Pueblo and Denver and included home builders, architects and interior designers. Categories included Best kitchen, best master suite, best interior design, best floor plan, best architectural exterior, best landscaping and best value. The Eagle Mountain also won the coveted People’s Choice award in its price category of sales price less than $200,000.

The Eagle Mountain is a 2 bedroom, 2 bath home with attached two-car garage, priced for sale at $165,900. Special features for the parade home included ceramic floors, maple cabinetry, on-demand hot water heater, custom lighting, metal tile ceiling accents, and granite counter tops. Custom landscaping by Robertson’s Landscaping made use of a bubbling rock fountain, shrubbery, vines, flowers and trees around a raised deck and flagstone patio area. The home is a modular home on a crawl space, built by Summit Crest Homes Division of Berthoud, Colorado, and assembled and finished onsite at Antelope Ridge.

This year was the sixth entry into the Parade of Homes for BaseCamp Development’s Antelope Ridge community, and the home builder has won numerous awards each year it has entered.

The parade of homes is produced by Housing and Building Association of Colorado Springs, which has more than 900 member home-building companies and affiliated business. The 2006 Parade was the association's 52nd continuous parade (oldest in the nation of continuous parades) and included 46 homes, representing 32 builders, ranging in price from $156,000 to $3 million, located in two main sites and individual scattered sites, including in Teller County. Attendance at all sites totaled more than 20,000 people. The parade ran August 4 through August 20.

Antelope Ridge is the Pikes Peak Region’s only leasehold estate community. Prices for new modular homes start at $122,900. Antelope Ridge sells ranch homes exclusively from 2 to 4 bedrooms, all with two-car attached garage, full landscaping packing including sprinkler system, all kitchen appliances, deck and window coverings. It is an all-ages community. Residents have use of a community clubhouse, heated swimming pools, office center, fitness center, play ground and banquet facilities. For information visit the sales center, open 10 a.m. to 6 p.m. Monday through Saturday and from 11 a.m. to 5 p.m. Sunday. The sales office is at 4102 Gray Fox Heights, and may be reached at 573-1200 or visit the web site: www.anteloperidgehomes.com.

About BaseCamp Development LLC
BaseCamp Development and BaseCamp Communities provide affordable housing solutions for the land-lease, land-home, specialty mountain resort and urban infill markets of Colorado. Using such techniques as off-site construction, the company is able to rapidly deliver high quality housing stock within a time-window and price point which is unmatched by traditional builders. More information is available at www.qualityaffordableliving.com.

BaseCamp Fund Invests in Montana Real Estate Venture

noreply@blogger.com (Andrew) — Sun, 15 Jan 2006 18:35:00 +0000

BaseCamp Clayton Investors, LLC ("The Fund") announced today that it has made a substantial investment in JWT Capital, LLC of Bozeman, Montana.

JWT was founded in 2004 to build on the regional real estate strengths of its core team, and take advantage of the strong market demand for commercial and retail real estate in Montana.

The company plans on developing and operating a chain of nationally-branded franchise restaurant and hospitality chains in the rapidly developing markets of the Northwest United States. These operations will form the core anchor tenants in a number of planned commercial and retail plazas throughout the region.

The company has achieved its first milestone of becoming the exclusive regional franchisee of Old Chicago Restaurants in Montana, Idaho (excluding the Boise MSA), and Washington state. Currently the company owns and operates the Bozeman, Montana, Old Chicago restaurant and is currently under development of a Billings, Montana, Old Chicago Restaurant. Additionally the company holds the development and franchise rights for a Hilton Garden Inn in Billings, Montana.

The company is currently seeking additional restaurant and hospitality franchisee acquisitions throughout Montana with future plans to expand to Idaho and Washington.

BaseCamp Fund Invests in Collective Intellect

noreply@blogger.com (Andrew) — Thu, 05 Jan 2006 23:50:00 +0000

Today BaseCamp Clayton Investors, LLC ("The Fund") announced its participation in the Series A financing of technology startup Collective Intellect, Inc.

Collective Intellect, Inc. specializes in comprehensively tracking, filtering and ranking media content for the Fortune 500. The founders have worked in Business Intelligence for years, creating tools to solve the problem of filtering unstructured information.

Working with investors helped the company to fine-tune their approach to new media research, with the goal of finding just those nuggets of information that are most valuable and most relevant to business decisions, whether they be trading strategies or business-related strategies.

Building customized technology tools lets Collective Intellect help their customers gain a competitive business advantage using New Media throughout their organization. Across blogs, discussion boards and social networking websites, Collective Intellect uses a combination of advanced artificial intelligence algorithms and old-fashioned human ingenuity to identify emerging New Media and traditional media content. This approach produces more comprehensive, timely and relevant results than what one may pull using traditional web search tools. Collective Intellect also builds topic-based community platforms which foster corporate interaction with the millions of New Media denizens.

Customers use Collective Intellect's technology to:

* track information related to stocks and investing
* support public relations and investor relations activities
* facilitate customer support outreach programs
* create product management market research feedback programs
* develop interactive forums where customer relationships can be nurtured

Customers include some of the largest trading desks on Wall Street, Fortune 100 consumer goods manufacturers and Fortune 100 pharmaceutical companies. From simple monitoring solutions to fully interactive corporate blog communities, Collective Intellect provides the technology required to manage the total media landscape.

BaseCamp Raises more than $10 Million for Investment Fund

noreply@blogger.com (Andrew) — Wed, 28 Dec 2005 22:09:00 +0000

BaseCamp Capital LLC today announced that they have completed fund raising efforts for their latest investment fund, BaseCamp Clayton Investors, LLC (The Fund).

Given the past performance of BaseCamp's investments, The Fund was significantly oversubscribed, and investment was capped at $10,850,000. It is expected that BaseCamp will deploy these funds over a 24 month investment period, and will focus primarily on real estate opportunities, although up to 20% of the funds will be deployed into other business sectors as opportunities arise.

BaseCamp Announces Sale of The Shops at Westwoods

noreply@blogger.com (Andrew) — Tue, 29 Nov 2005 17:19:00 +0000

BaseCamp Capital today announced the sale of The Shops at Westwood in Arvada, Colorado.

BaseCamp acquired The Shops at Westwood, a 22,550 square feet retail center located in the northwest Denver metro area in October 2003.

The one-story masonry building was constructed in 2001 and was ~90% occupied when acquired. BaseCamp negotiated a purchase price equal to a capitalization rate of 9% of then current revenue. BaseCamp managed the center for two years, and in the process was able to fill the center to 100% occupancy.

The investment has returned an average 10% to the investors for the life of the investment. BaseCamp recently entered into a contract, which is due to close November 16, 2005 to sell The Shops at Westwood at a price representing a 8% capitalization rate on current revenue and occupancy. This sales price represents a 75% cash on cash return and a 30% internal rate of return to our investors.

Antelope Ridge Wins Big at 2005 Parade of Homes

noreply@blogger.com (Andrew) — Tue, 13 Sep 2005 16:26:00 +0000

Commendations Demonstrate Quality, Value of Homes Priced Under $150,000

BaseCamp Communities announced today that its Antelope Ridge development is the recipient of three awards from the Colorado Springs Housing and Building Association.

The awards recognize Antelope Ridge’s Willow Mountain model for having the best kitchen, best master suite and best landscaping in the 2005 Parade of Homes, for homes priced between $150,000 and $200,000.

“It is a true honor to receive these ‘best of’ accolades from the Housing and Building Association,” said Andrew Luter, a partner at BaseCamp Communities. “Most importantly, these commendations demonstrate that homes built offsite offer all the same quality, style and amenities of homes built onsite, without the inflated price tag.”

Recently, BaseCamp Communities announced that to maximize the affordability of its homes all new properties at Antelope Ridge would feature a permanent foundation in conjunction with the land-lease concept already in place at the community. With the permanent foundations, the homes are eligible for standard 30-year mortgage financing, including zero down programs for qualified applicants. As a result, BaseCamp Communities is able to offer three-bedroom, two bathroom, detached homes starting at $115,000 – or as low as $899 per month with some mortgage products.

All homes at Antelope Ridge include fully landscaped front and back yards, sprinkler systems, all appliances, and window coverings. The communities also offer recreation centers, pools, parks, and walking trails.

Denver Company Pioneers New Category of Housing in Colorado

noreply@blogger.com (Andrew) — Fri, 19 Aug 2005 16:25:00 +0000

Concept Unites Quality, Affordability to Help Families Achieve the American Dream

BaseCamp Communities is announcing today a new category of housing in Colorado designed to help more people enjoy the American Dream of home ownership in a state where, according to the U.S. Census Bureau, housing ranks as the seventh most expensive in the nation.

This new category of housing combines the traditional land lease, popular in places like California and the Sun Belt states, with permanent foundation homes. This model is designed to eliminate the high cost of raw land from the home ownership equation, thereby radically reducing the total cost of the home. Within the land-lease model, homeowners pay one monthly fee – similar in price to condominium dues or homeowner association (HOA) fees in master-planned communities – to cover the land lease, property taxes, common area maintenance and landscaping fees, and unlimited use of communities’ resort-style amenities. With the permanent foundations, the homes are eligible for standard 30-year mortgage financing, including zero down programs for qualified applicants. As a result, BaseCamp Communities is able to offer three-bedroom, two bathroom, detached homes starting at $110,000 – or as low as $899 per month with some mortgage products.

Land leases have long existed for manufactured homes, but without a permanent foundation, the homes were considered "personal property" and were not eligible for traditional mortgages. Personal property, or chattel mortgages were required. These more expensive loans require much higher down payments down and typically see interest rates 400-500 basis points higher than traditional mortgages, which is not the best option for first-time buyers or others seeking affordability. Recognizing this, BaseCamp Communities recently purchased two developments that previously offered land leases on homes without permanent foundations and is redeveloping these properties to incorporate the permanent foundation, and thereby today's attractive financing programs.

To illustrate the cost savings of this new category of housing, below are example monthly payments for three different types of three bedroom/two bathroom homes:

Traditional Home (located within block of a BaseCamp Community)
With a starting price of $225,000, 0% down and an interest rate of 6.50%, the principal and interest payment is $1422.15. Adding estimated property taxes and an HOA fee – both of which are included in the permanent land lease at a BaseCamp property – the total monthly payment on the $225,000 traditional home could be $1522.15.

Traditional Land Lease
A non-permanent foundation home for $105,000 with 10% down and 8.00% financing at 15 years (30 years is not usually an option for chattel mortgages), and a monthly land lease of $325 results in an estimated monthly payment of $1228.09.

Permanent Foundation Land Lease at a BaseCamp Community
With a permanent foundation and a price of $110,000, 0% down and 6.50% financing (the same terms as the traditional home), and a monthly land lease of $325, the monthly payment is $950.27.

Unlike most traditional new home communities, a home in a BaseCamp community also includes fully landscaped front and back yards, sprinkler systems, all appliances, and window coverings. The communities also offer recreation centers, pools, parks, and walking trails.

“Colorado’s soaring cost of land is one of the primary reasons the average cost of a home in this state is approaching a quarter million dollars,” said Andrew Luter, a partner at BaseCamp Communities. “With our unique approach to removing the cost of the land from home buying equation, and ensuring that these homes qualify for traditional mortgage financing, we’re able to offer an incredible housing value.”

There are currently two BaseCamp Communities in Colorado. Prairie Greens is in Frederick, which is a 25-minute drive north of downtown Denver or a 15-minute drive east of Boulder along Highway 52, and Antelope Ridge is in eastern Colorado Springs.

BaseCamp Sells Oakley Pointe

noreply@blogger.com (Andrew) — Tue, 14 Jun 2005 16:23:00 +0000

In December of 2004 BaseCamp Capital and Highline Realty sourced and purchased an underutilized suburban Charleston, South Carolina manufactured housing community with the goal of rezoning the property for stick-built housing. Within six months the team was able to secure all assurances from the local authorities required to resell the property to local developer Eastwood Homes.

The project represented an 80% cash on cash return within six months, resulting in an internal rate of return of 116% for our investors.

BaseCamp Sells Millstone at Clear Creek Square

noreply@blogger.com (Andrew) — Sat, 12 Mar 2005 17:26:00 +0000

Today, BaseCamp Capital LLC announced the sale of Millstone at Clear Creek Square, a planned and entitled condominium project in Golden, Colorado to Sovereign Homes of Colorado for a price representing a 50% cash on cash return to their investors

Millstone at Clear Creek Square is designed as an urban infill condominium project, and is positioned in the metro Denver market place as the “small town” alternative to LoDo and the Golden Triangle in downtown Denver, and Cherry Creek. The project enjoys substantial interest from high income “lifestyle and cultural creative buyers” currently living in Jefferson County and the foothill communities of Genesee and Evergreen.

BaseCamp Completes Rebranding Effort

noreply@blogger.com (Andrew) — Fri, 11 Mar 2005 17:19:00 +0000

With the help of Texture Media, of Boulder Colorado, BaseCamp Capital is please to announce their re-branding effort has been completed.

Their new mark, reminiscent of a Sherpa guide, with it’s tag-line “Thoughtful Guided Investment” best reflects the company’s mission to equip, motivate, and support both their incubated partners and co-investors as they strive to reach their financial peaks. In addition, it underscores their commitment to sustainable business models that will ultimately provide both the economic and social returns their portfolio companies and investors seek.

Gary McDaniel, the company’s Senior Managing Director explains “There are so many talented entrepreneurs in the Rocky Mountain West who are simply not well served by traditional financing vehicles. On top of that, they often lack the facilities, monetary resources, balance sheets, or resumés to execute what may otherwise be a solid business plan. By leveraging the combined talents of the BaseCamp team, we are able to bridge those gaps and deliver accelerated results for their principals and our co-investors.”

BaseCamp was founded in Early 2003 by a group of entrepreneurs and real estate veterans including Gary McDaniel, Jim Grange, Andrew Luter and Chad McDaniel. The BaseCamp team represents over 70 years of combined experience in entrepreneurial ventures, public and private markets both in the United States and abroad. They have a proven track record in the specialty real estate market, including the creation of the largest specialty Real Estate Investment Trust (REIT) focused on the manufactured housing industry with over $2B in assets. In addition, they have a wealth of experience in public and private market transactions, mergers, acquisitions and operations, which has led to their success in more than $70M in specialty real estate transactions since their inception.