• IPE Real Estate

BKM Capital Partners buys $175m of industrial property

[if (gt IE 8) | (IEMobile)]><!<![endif][if (lt IE 9) & (!IEMobile)]> <link href="/magazine/fixedwidths.css" rel="stylesheet" type="text/css" media="screen" /> <![endif][if IE 6]><link type="text/css" href="/magazine/ie6.css" rel="stylesheet" media="screen" /><![endif][if IE 7]><link type="text/css" href="/magazine/ie7.css" rel="stylesheet" media="screen" /><![endif]StartFragmentBKM Capital Partners, which has recently been added to the roster of asset managers used by US pensions giant CalPERS, has bought industrial properties in the western US for a total of $175m (€140m).EndFragment

CalPERS announced last November it would invest via BKM Capital Partners, bringing the manager onto its real estate emerging manager programme, the Canyon Catalyst Fund (CCF).


The assets include Hughes Airport Center, a 670,902sqft multi-tenant industrial complex in Las Vegas, Nevada, consisting of 13 buildings.

The deal follows BKM Capital Partners’ recent acquisition, through its programmatic joint venture with the CCF, of Bayside Business Park, a 14-building, 352,280sqft property in Freemont, California, the manager said.

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BKM says it focuses on value-add, multi-tenant industrial investments and that its current strategy is to buy assets that are the largest in the market.

Brian Malliet, co-founder and chief executive of BKM Capital Partners, said the strategy was serving the company’s investors well.

“By acquiring the largest multi-tenant industrial assets in the markets we serve, we are able to devise units to match market demand, which translates directly into high occupancy, resulting in strong stabilised returns for our investors,” he said.

Malliet said his firm had bought Hughes Airport Center at a significant discount to replacement cost.

The firm was continuing to look for light, multi-tenant industrial assets throughout the western US, he said.


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Headquartered in Newport Beach, California, BKM Capital Partners is a real estate fund manager specializing in the acquisition and improvement of value-add multi-tenant industrial properties in metro areas across the Western U.S. Combining a deep knowledge of this niche industrial product type with in-house capabilities including on-site property management, asset management, and leasing to reposition and institutionalize light industrial assets, the firm continues to build on its proven track record, generating strong results with high levels of transparency and engagement for investors. 

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BKM Management Company manages a portfolio of 8.6 million square feet of multi-tenant industrial properties for BKM Capital Partner’s private and institutional investors. With a focus on “boots on the ground” execution at the property level, BKM has in-house capabilities for both property management and leasing. The teams at the property level are focused on ensuring the tenants thrive and that the properties are managed in the most efficient way.




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