Newport Beach, CA-based BKM Capital Partners has acquired an industrial portfolio encompassing 11 properties located in Arizona, Northern California, Southern California and Oregon in a transaction valued at $425 million.
Spectrum Center in Lake Forest, California
According to BKM’s Managing Director of Acquisitions, Brett Turner, “By acquiring this portfolio, we are able to achieve geographic diversification and scale in markets where we continue to see opportunities for value creation on behalf of our investors.”
BKM acquired eight of the properties through BKM Industrial Value Fund II, and three of the properties in partnership with the Canyon Catalyst Fund, Canyon Partners’ real estate emerging manager program managed on behalf of the California Public Employees’ Retirement System (CALPERS).
The portfolio features 2,669,265 square feet of space, 493 units and is nearly 90% occupied. The geographic spend included $158 million in Phoenix Metro, $124 million in Northern California, $101 million in Southern California, and $42 million in Oregon.
See the article on Connect Commercial Real Estate HERE.