BKM Capital Partners Surpasses $5 Billion in AUM Following Landmark First Half
- BKM Capital Partners
- Aug 4
- 7 min read
YTD acquisitions grow AUM and portfolio by nearly 70% as firm enters new markets and scales its national operating platform.
Newport Beach, CA — August 3, 2026 — BKM Capital Partners, a vertically integrated institutional fund manager specializing in multi-tenant light industrial real estate, closed the first half of 2026 with approximately $5.4 billion in assets under management, capping six months of growth that widened its national footprint and deepened its operating platform. The firm acquired $2.15 billion of real estate during the period and entered the Austin and Atlanta markets for the first time. In tandem with its portfolio growth, BKM posted the largest personnel increase in its history, expanding its headcount by 51% and growing its office network to match.
Having entered the year with a 14.7-million-square-foot portfolio of 97 assets valued at $3.2 billion, BKM closed the first half with a 24.8-million-square-foot portfolio of 161 properties across nine states. The firm’s acquisitions during those six months accounted for 64 properties and 10.1 million square feet, executed on behalf of BKM Industrial Value Fund III and several institutional partnerships, including the firm’s $1.5-billion joint venture with Kayne Anderson Real Estate. (Full list of first-half acquisitions follows.)
“The first half of 2026 marked an important step in BKM’s evolution,” said Brian Malliet, Founder, CEO and Chief Investment Officer of BKM. “Our acquisitions accelerated a strategy we have pursued deliberately for years: building density in high-conviction infill markets and pairing institutional capital with specialized operating capabilities. We entered the second half with greater reach, stronger local market coverage and considerably more capacity to execute.”
Disciplined Acquisitions Across New and Established Markets
BKM completed seven single-asset and portfolio transactions in the first half, spanning both new and established markets. The activity carried the firm into Georgia for the first time and extended its Texas presence into Austin, while adding to holdings in Phoenix, Southern California, Northern California, Dallas-Fort Worth, and Seattle.
The largest of the transactions was the $1.81-billion acquisition of a Link Logistics portfolio, completed in partnership with Kayne Anderson and marking the biggest trade of light industrial space since 2022, according to CBRE. The deal added 51 small- and mid-bay properties totaling 8.5 million square feet across California, Washington, Texas, and Georgia, comprising 275 buildings and nearly 1,900 units. It also brought the operating infrastructure behind the assets under the BKM umbrella, including 40 former Link employees and eight local offices, giving the firm immediate depth in several priority markets.
Besides the Link portfolio, BKM closed six transactions totaling nearly $338 million, bookended by two portfolio deals. The firm entered Georgia early in the year with a $69.5-million purchase of six Metro Atlanta properties totaling 404,000 square feet, and closed the half with an $85.65-million acquisition of three assets in Washington's Kent Valley. In between, it acquired individual properties across the country, including Central Valley Industrial Park in Phoenix, Post & Paddock Industrial Park in Grand Prairie, Texas, Mission Park Business Center in Silicon Valley, and South Bay Industrial Exchange in Southern California.
“Our approach in the first half was the same whether we were buying a single building or a billion-dollar portfolio,” said Brett Turner, Partner and Managing Director of Acquisitions and Dispositions at BKM. “We look for well-located infill assets where operational complexity creates room to add value, and we underwrite each one to the same standard. The Link portfolio brought scale and experienced local teams, but the smaller acquisitions reflect the same sourcing discipline that has always driven the BKM platform.”
Institutional Capital and Local Infrastructure Scale Together
BKM strengthened its capital base alongside the portfolio. In March, the firm secured a $150-million strategic commitment from TriPost Capital Partners to support general partner commitments and continued growth across BKM-sponsored vehicles, complementing its existing relationships with institutional partners.
The firm’s team and office network expanded alongside the portfolio. BKM ended the half with 204 employees, up 51% from 135 at the start of the year. BKM brought on 82 new employees during the first half, roughly 70% more than it hired in all of 2025. Headcount rose 51% over the same period, to 204 employees. Much of the growth supported property-level operations and the integration of the expanded portfolio, including the 40 team members who joined through the Link transaction. BKM also added 10 offices, among them locations in Southern and Northern California, Atlanta, Austin and Miami, bringing its national network to 25.
In June, the firm named Mike Valdes Partner and Chief Financial and Operating Officer, succeeding Bill Galipeau, who is retiring after a nearly five-year long tenure. Valdes, an eight-year BKM veteran and former Senior Managing Director of Finance and Accounting, worked alongside Galipeau through the transition. BKM is also rolling out artificial intelligence tools across departments to streamline workflows and support faster decision-making.
“Adding assets is only one part of scaling successfully,” said Valdes. “Our work now is to integrate teams, standardize processes and give local operators the data and tools they need to act quickly. Building that connective infrastructure is what allows a larger organization to perform as one platform.”
Operating Execution Keeps Pace
As the portfolio grew, BKM kept its attention on leasing, tenant service and physical improvements. The firm invested roughly $30 million in interior and exterior work during the half, including tenant improvements and rollover-related upgrades, in line with its value-add approach. Its leasing teams signed 425 new leases and renewals, holding portfolio occupancy at 88% across more than 800 buildings and 4,800 tenants.
“Maintaining occupancy while integrating this volume of new space depends on consistent execution at the property level,” said Mason Waite, Partner and Managing Director of Asset and Portfolio Management at BKM. “Our teams stayed close to tenants and brokers, advanced capital projects and addressed rollover needs market by market. That local accountability is critical to translating our business plans into leasing results.”
Reinforcing a Leadership Position
BKM published seven installments of its BKM Intel research series in the first half, including quarterly light industrial market updates and white papers on tenant engagement, investment strategy and operational execution. As one of the few operators publishing sustained research at this depth, BKM has become a reference point for how the niche is analyzed and valued, reinforcing a leadership position that the wider industry has also recognized.
That recognition took concrete form during the first half, in a series of honors for the firm and its team.
Named to Inc.'s 2026 list of the Fastest-Growing Private Companies in the Pacific (ranked no.103)
Named among the country's leading small-bay industrial owners by Small Bay List
Earned a Quantum Certified Workplace designation, which honors companies that have excelled in creating exceptional workplace cultures
Brian Malliet, Founder, CEO and CIO, selected for The Real Deal’s 2026 TRD 100 list of real estate titans
Michael Grossner, Senior Director of Acquisitions and Dispositions, named one of GlobeSt.com's CRE Aspiring Leaders 2026
Looking Ahead
In the second half, BKM will continue to focus on integrating its expanded portfolio and executing property-level business plans across the assets and teams it added so far this year.
“Our priority in the second half is to convert the scale added this year into strong operating results,” Malliet said. “That means integrating the portfolio thoroughly, advancing asset-level business plans and remaining selective as new opportunities emerge. We have more capacity to invest, but the standard for where and how we deploy capital remains high.”
Even as that work continues, BKM remains an active participant in a product class that draws heavy competition. The firm is already pursuing several potential acquisition opportunities in existing and select new markets.
About BKM Capital Partners
Headquartered in Newport Beach, California, BKM Capital Partners is the largest institutional fund manager and operator of multi-tenant light industrial properties in the United States. BKM’s singular focus, market knowledge, decade-long track record, and institutional approach provide a platform for investors to access a traditionally fragmented asset class through an experienced partner with the expertise to execute. BKM’s platform drives significant ROI in this niche asset class through active hands-on management with an experienced investment and operations team. Since its inception in 2013, BKM has successfully acquired nearly 40 million square feet of light industrial projects valued at $8 billion. The firm continues to grow its investment management business through strategic joint ventures, institutional investor funds and separate account equity capital. Additional information is available at bkmcp.com.
BKM Capital Partners’ 1H 2026 Acquisitions by Geographic Market | |
Phoenix, AZ 1 Property 227,603 SF | |
Central Valley Industrial Park (formerly Northwest Business Park) | 227,603 SF |
Northern California 9 Properties 1.58 Million SF | |
880 x Industrial Parkway (formerly Parkway Commerce Center) | 406,712 SF |
Back Bay Logistics (formerly Bayview Business Park) | 103,920 SF |
Charcot Industrial Park I | 164,089 SF |
Charcot Industrial Park II | 118,858 SF |
Diablo Industrial Park | 271,295 SF |
Eden Landing Industrial Park I (formerly Bay Center Business Park I) | 148,665 SF |
Eden Landing Industrial Park II | 82,796 SF |
Mission Park Business Center | 94,474 SF |
San Tomas Business Park | 188,311 SF |
Southern California 20 Properties 3.56 Million SF | |
Carson Commerce Center | 77,255 SF |
South Bay Industrial Exchange (formerly Carson Industrial Center) | 428,806 SF |
Fabrica Industrial Park (formerly Cerritos Business Center) | 397,700 SF |
Chatsworth Business Park I | 92,078 SF |
Chatsworth Business Park II | 105,929 SF |
Grove22 (formerly Garden Grove Business Center) | 208,200 SF |
Golden West Business Park | 296,821 SF |
Harbor Business Center | 193,549 SF |
Harbor Warner Business Park | 128,019 SF |
Hoover Business Park | 157,985 SF |
Hoover Grove Plaza (formerly Garden Grove Business Park) | 31,541 SF |
Lurline Business Park | 124,880 SF |
Mountain Business Park | 140,020 SF |
Monterey Park Business Center | 199,056 SF |
Park 10 (formerly Archibald Business Center) | 255,871 SF |
Rockfield Exchange (formerly Cañada Business Center) | 296,597 SF |
Savi Ranch Industrial Park (formerly North County Business Park) | 105,516 SF |
Signal Hill Business Park I | 108,358 SF |
Signal Hill Business Park II (formerly Junipero Business Park) | 69,788 SF |
Stadium Landing x Anaheim (formerly Commerce Park Anaheim) | 145,745 SF |
Atlanta, GA 12 Properties 1.03 Million SF | |
Atwater Commerce Park (formerly Atwater Court & Commerce Drive) | 257,376 SF |
Cobb Landing (formerly Cobb International) | 52,280 SF |
Corporate Way Center | 59,959 SF |
McDonough Industrial Center (formerly McDonough Circle) | 33,000 SF |
Norcross Industrial Park | 93,302 SF |
Peachtree Corners (formerly Peachtree Corners East) | 67,662 SF |
Peachtree Industrial Center | 58,139 SF |
Piedmont Warehouses | 120,800 SF |
Rubicon Business Center | 116,872 SF |
South Atlanta Industrial Center | 58,174 SF |
Warren Business Park | 56,472 SF |
Young Court Business Center | 59,000 SF |
Austin, TX 8 Properties 1.41 Million SF | |
Braker Business Park | 171,452 SF |
McNeil Logistics (formerly McNeil Industrial Park) | 246,390 SF |
Rutland Business Park | 194,642 SF |
Southpark Industrial Center (formerly Southpark Business Park) | 180,869 SF |
Tech Corporate Center & Tech Business Park (formerly McNeil Business Park) | 278,790 SF |
University Industrial Park (formerly McKalla Business Park) | 236,693 SF |
Waterford Business Park | 105,700 SF |
Dallas-Ft. Worth, TX 5 Properties 965,300 SF | |
Post & Paddock Industrial Park (formerly 1000 Post and Paddock) | 77,858 SF |
BKM @ Valwood (formerly Valwood Business Center) | 355,878 SF |
Jupiter Business Park | 141,178 SF |
Springlake Business Center | 206,246 SF |
Summit Industrial Center (formerly The Summit) | 184,140 SF |
Seattle, WA 9 Properties 1.30 Million SF | |
212th Business Park | 448,549 SF |
Campus Distribution (formerly Harbour Reach Business Park) | 100,160 SF |
Fostoria Business Park | 82,506 SF |
Orillia Distribution Center I (formerly Kent Valley Distrib. Center III) | 50,450 SF |
Orillia Distribution Center II (formerly 22647 72nd Ave. South) | 64,000 SF |
Renton Business Park | 27,912 SF |
Ridgeline Industrial Park (formerly Southcenter West Business Park) | 286,682 SF |
Strander Distribution Center (formerly Andover Distribution Center) | 162,885 SF |
Up x Down Logistics (formerly S 200th St Industrial) | 79,080 SF |
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