BKM Capital Partners Closes Out 2024 with $2.5 Billion in Transactions

Firm releases 2024 Annual Letter amidst a year of milestones and record transaction activity

Newport Beach, CA—February 12, 2025—BKM Capital Partners, a vertically integrated institutional fund manager specializing in value-add light industrial properties, has announced a record-setting year of growth and operational achievements. Over the past 12 months, the firm completed $2.45 billion in acquisitions and dispositions across 10.9 million square feet of small-bay light industrial space—a nearly 300% year-over-year increase in transaction activity.

“This has been a transformative year for BKM,” said Brian Malliet, Founder, Chief Executive Officer, and Chief Investment Officer of BKM Capital Partners. “Our ability to continuously execute on acquisitions, drive operational performance, and foster new institutional partnerships is a testament to the strength of our platform and the trust we’ve earned in the industry. We’ve delivered results that reflect not only the resilience of the light industrial sector but also the creativity and discipline of our team.”

Seizing Strategic Opportunities

BKM acquired 26 properties in 2024, adding more than 5.2 million square feet to its portfolio in deals totaling nearly $1.2 billion. These acquisitions were conducted primarily through joint ventures with seven institutional partners, including five new alliances, as well as through investments on behalf of BKM Industrial Value Fund III.

The properties acquired last year span six states in the Western U.S. and include:

• Baseline Business Park (100,375 SF) and Wier Thirty6 Business Park (104,146 SF) in Phoenix, AZ

• Ash Business Center (89,728 SF) and Hohokam Business Park (256,920 SF) in Tempe, AZ

• Backlot Burbank (208,688 SF) in Burbank, CA

• Concord Business Park (141,792 SF) in Concord, CA

• Gateway Business Center (95,126 SF) and Shoreline Business Center (84,433 SF) in Fremont, CA

• North Cabot Industrial Park (51,038 SF) in Hayward, CA

• Cherry Commerce Center (97,799 SF) in Newark, CA

• Canyon Industrial Park (198,728 SF), Faraday Industrial Park (99,349 SF), Borderpoint Business Park (173,330 SF), Otay Distribution Center (103,910 SF), and Otay Crossing Business Park (64,833 SF) in San Diego, CA

• Lionshead Landing (228,816 SF) in Vista, CA

• Havana 37 Business Center (150,255 SF) in Denver and Inverness Exchange (215,212 SF) in Englewood, CO

• Patrick/Mojave Airport Center (192,517 SF), Hughes Airport Center (672,424 SF), Escondido Business Park (153,368 SF), and Pacific Business Center (748,756 SF) in Las Vegas, NV

• Airport Way Corporate Park (140,693 SF) and Columbia Commerce Center (375,429 SF) in Portland, OR

• Tigard Business Park (259,124 SF) in Tigard, OR

• West Valley Business Park (205,719 SF) in Kent, WA

“Our team’s ability to identify and act on opportunities in a challenging market has been central to our success,” said Brett Turner, Senior Managing Director of Acquisitions and Dispositions. “These acquisitions position us to unlock significant value through our proven asset management strategies, whether by cosmetic enhancements, operational improvements, or market rent growth capture. The scale of our activity reflects our commitment to disciplined execution and delivering strong returns for our investors.”

Operational & Cultural Excellence

Beyond its transactional success, BKM achieved new heights in operational performance. Its leasing team executed 567 transactions in 2024—an average of 2.3 leases per business day. BKM’s construction team also delivered 287 move-in-ready units, further supporting the company’s value-add strategy. The portfolio now counts more than 1,800 active leases, benefiting from tenant diversification and consistently high occupancy rates.

“Our operational results last year highlight the strength of our hands-on management approach,” said Mason Waite, Managing Director of Asset & Portfolio Management. “Through our vertically integrated platform, we’ve maximized leasing velocity, driven NOI growth, and delivered tenant-ready spaces at an unprecedented pace. This kind of execution is what ensures our portfolio performs, even in challenging economic conditions.”

BKM’s accomplishments were bolstered by its focus on talent development and fostering a strong corporate culture. Last year alone, the company received 18 industry awards recognizing its leadership, operational execution, and team accomplishments.

In 2024, the firm celebrated 29 promotions and created 17 new positions, bringing total headcount to over 100 employees across 13 offices. The workforce is now comprised of 51% women and 69% of the overall staff come from diverse backgrounds, reflecting the company’s commitment to inclusivity and leadership excellence.

Building on Legacy of Success

“Our achievements in 2024 extend far beyond the numbers,” said Malliet. “The partnerships we’ve built, the people we’ve promoted and hired, and the policies we have set in place all contribute to a platform that is stronger and more dynamic than ever.”

Since its inception in 2013, BKM Capital Partners has completed $4.5 billion in total transactions, acquiring 124 properties totaling 24 million square feet. With over 4,500 tenants served across seven states, BKM plans to continue its growth journey, preserving its leadership position in the light industrial sector through a disciplined, value-driven approach.

“We’re energized by the opportunities ahead,” Malliet added. “We’re not only focused on maintaining this momentum but also building on it as we continue to evolve as a company. Our track record, combined with the strength of the light industrial sector, positions us to continue delivering exceptional results for our investors while exploring new markets and fostering the partnerships that drive our success.”

Read BKM’s 2024 Annual Letter here.