BKM Capital Partners Acquires Four Light Industrial Business Parks in Phoenix Metro for BKM Industrial Value Fund I
PHOENIX, AZ – BKM Capital Partners, an institutional fund manager with a niche focus on value-add, multi-tenant light industrial, has acquired four industrial business parks encompassing 442,173 square feet in the Phoenix metro area for a total consideration of $34.45 million.
The firm, which recently announced the final close of its debut institutional fund, BKM Industrial Value Fund I L.P., now has more than $150 million in assets under management.
“The ability to source off-market opportunities in the current market is what sets a good fund manager apart,” says Brian Malliet, CEO and Co-Founder of BKM Capital Partners, who notes that a recent report by Preqin indicated that finding investment opportunities would be the most difficult challenge for private real estate managers in 2016.
“We are bucking the trend,” Malliet says. “As opposed to a slowdown, we are nurturing a growing pipeline of off-market investment opportunities, and have already invested roughly 50 percent of our equity in assets just six weeks after the Fund closed.
“ The off-market acquisition of these four high-quality properties in the dynamic Phoenix market will add deep value to our growing portfolio, and we are eager to demonstrate proven returns in our multi-tenant light industrial product niche.”
BKM Capital Partners’ recently acquired properties include the Rose Garden Business Park, Metro Industrial Center, and 4100 Broadway in Phoenix, as well as the Arizona Corporate Center in Chandler, Arizona.
With these acquisitions, the firm now has nearly one million square feet under management in the Phoenix market.
BKM acquired the four assets in a portfolio transaction from a private Los Angeles-based owner. With this portfolio of assets, BKM now boasts 11 assets in the BKM Industrial Value Fund I with four more assets in escrow at roughly $25 million combined.
For a complete copy of the company’s news release, please contact:
Lexi Astfalk/Jenn Quader
Brower, Miller & Cole