Newport Beach, CA-based BKM Capital Partners announced the final close of its second institutional fund, BKM Industrial Value Fund II, L.P., with $382 million in equity commitments. In addition to $289.4 million of equity commitments, BKM invested a further $54.1 million of Fund II LP co-investment capital and has up to an additional $38 million of committed non-discretionary LP co-investment capital to deploy.
BKM’s Fund II will invest in undervalued light multi-tenant industrial assets in strong growth markets throughout the Western U.S. BKM’s Fund II garnered investments from a mix of institutional investment sources, including U.S. endowments and pensions funds, family offices, and insurance companies.
BKM Capital Partners’ Brian Malliet says, “BKM’s ability to more than double our fund investments in less than 24 months speaks to the depth of our expertise in this product type.”
The fund is already being deployed into large business park portfolios throughout the Western U.S., including assets in California and Arizona.