Overview
                                    
                                    
                                        
                                            Baseline  Partners  LLC  is  a  Delaware  limited  liability  company  that  was  founded  in 
November 2018.  Baseline serves as investment manager to two private investment funds, Baseline 
CRE Income Fund, LLC (“Baseline CRE”), a Delaware limited liability company, and Baseline 
Credit Opportunity Fund, LLC  (“Baseline Opportunity”), a Delaware limited liability company 
(together  the  “Funds”).  Unless otherwise  described, references  herein to  the  “Fund”  or  Funds”, 
“Member” or “Members” or “Unit” or “Units” shall be used to reference both Baseline CRE and 
Baseline Opportunity.  
Baseline  is  a  privately  held  investment  adviser  with  headquarters  in  Mesa,  Arizona 
principally owned (indirectly) by Patrick R. Cardon. 
Baseline provides discretionary investment management services to the Funds generally 
designed  to  preserve  and  protect  capital  and  to  pay  attractive  and  stable  cash  distributions  by 
investing in credit opportunities within the U.S. commercial real estate markets, which primarily 
include  first-lien  and  short-term  loans  collateralized  by  real  property.    For  more  information 
regarding Baseline’s
                                        
                                        
                                             investment strategies, please see Item 8 below.  The limited liability company 
interests in Baseline CRE and Baseline Opportunity are not and will not be registered under the 
Securities Act of 1933, as amended (the “1933 Act”), or the securities laws of any state or any 
other jurisdiction, nor is any such registration contemplated.  In addition, the Funds are not and 
will not be registered as investment companies under the Investment Company Act of 1940, as 
amended (the “1940 Act”), in reliance on various exceptions under Section 3(c) thereof. 
Baseline does not presently manage assets for any individual or separate account clients or 
other  investment  vehicles  (other  than  the  Funds)  and  does  not  tailor  its  advisory  services  to 
individual needs of other clients. 
As of December 31, 2023, Baseline’s Regulatory Assets Under Management as defined in 
the instructions to Form ADV Part I were $125,432,974, all managed on a discretionary basis. 
For  more  information  about  the  Funds,  including  applicable  fees  and  other  terms  and 
conditions of investment, please consult the Private Placement Memorandum for the applicable 
Fund.