- Institute for Real Estate Operating Companies
BKM CAPITAL PARTNERS ACQUIRES THREE INDUSTRIAL PORTFOLIOS $138M
Newport Beach, Calif.-based BKM Capital Partners, through its BKM Industrial Value Fund II, has acquired three industrial portfolios for a combined consideration of $138.7 million.
Fullerton Business Center
The company purchased a two-property portfolio consisting of four buildings totaling 99,187 square feet in metro San Diego. 3G Properties sold the properties for $16.6 million. The properties include Del Abeto Commerce Center, located at 6325 and 6354 Corte del Abeto in Carlsbad, Calif.; and Waples Industrial Centre, located at 9540 and 9550 Waples St. in Sorrento Mesa, Calif.
BKM also acquired South Bay Portfolio, a five-building light industrial portfolio in Fremont, Calif., from Stockbridge for $49 million. Located at 48430-48490 Lakeview Blvd. and 48500-48560, 48400, 47745-47787 and 47703-47737 Fremont Blvd., the portfolio totals 221,651 square feet.
And the third portfolio consist of four properties, totaling 27 buildings and 448,573 square feet, across California and Arizona. Global Logistics Properties sold the assets for $73 million. The portfolio includes Fullerton Business Center at 4010-4080 N. Palm St. in Fullerton; Ramona Business Center at 12901-13177 Ramona Blvd. in Irwindale, Calif.; Mowry Business Center at 39975-38995 Cherry St. in Newark, Calif.; and Baseline Business Center at 230-245 Baseline Road in Tempe, Ariz.