Acquire at a reset basis
Seek newer assets with financing or operating challenges and underwrite the work required to improve performance.
Diversified real estate fund
One fund. A wider field of opportunity.
A national strategy that pairs disciplined acquisitions with ground-up development, backed by Blackline’s affiliated operating platform.
15–18%Target net IRR
$250KMinimum investment
Up to $100MTarget fund size
Our investment approach
Capital that can buy. A team that can build.
The proposed strategy combines value-add acquisitions in Western markets with ground-up development in the Southeast. Blackline brings the capital platform; Bellamare Development brings affiliated development and operating experience.
Build with local knowledge
Pursue development opportunities where municipal relationships and brand partnerships can support the project’s capital structure.
Operate through the hold
Bring development, construction and asset management into the investment plan from the beginning.
A portfolio perspective
Different markets.
One operating discipline.
The indicative strategy allocates approximately 60% to value-add acquisitions and 40% to ground-up development, across hospitality, residential and mixed-use commercial real estate.
Indicative mix only. Portfolio construction may change. Image shows a representative asset, not a current Fund holding.
At a glance
The structure
behind the strategy.
Review the overview, then register your interest to request current materials from the Blackline team.
Source: 0822_Blackline Capital Partners_Fund I Overview.pptx
Source date: September 1, 2026
- Target size
- Up to $100 million
- Minimum investment
- $250,000
- Target net IRR
- 15–18%
- Preferred return
- 8% cumulative, non-compounding
- Fund term
- 6 years after capital call; up to two 1-year extensions
- Capital call period
- 1 year
- GP co-investment
- 5%
- Management fee
- 2% of committed capital
- GP promote
- 20% after the preferred return, with catch-up
About these materials
Targets are not guarantees. The Fund has no operating history. Pipeline and representative properties are not currently owned by the Fund and may never be acquired. Affiliated service providers receive compensation, creating conflicts of interest. Fund interests are offered only to verified accredited investors under the final offering documents.
Blackline Fund I
Let’s start a conversation.
Tell us you’re interested. No investment amount or financial commitment is required.