|Patrick Commerce Center, Las Vegas, NV|
Tuesday, January 31, 2017
BKM Capital Partners Sells First Three Multi-Tenant Light Industrial Business Parks in its Debut Fund
LAS VEGAS, NV – BKM Capital Partners, an institutional fund manager with a niche focus on value-add, multi-tenant light industrial investments, has sold the first three multi-tenant industrial business parks in its debut fund.
The three dispositions include a 223,009 square-foot multi-tenant industrial building, and a 137,603 square-foot industrial complex in Las Vegas, Nevada, and a 98,516 square-foot business park in Portland, Oregon.
“Creating value in distressed assets is our specialty,” says Brian Malliet, CEO and Co-Founder of BKM Capital Partners. “We acquire light industrial properties that require hands-on management and then implement our proven operational platform to create value, which is exactly what we did here.”
BKM repositioned and leased up all three of the assets, ultimately achieving an IRR of 38.5 percent and 2.1 multiple at the Patrick Commerce Center property, an IRR of 38.5 percent and 2.4 multiple at the Portland property Hayden Island Business Park, and an IRR of 43.3 percent and a 2.3 multiple at Wind River, all within a two-year period.
“These results demonstrate the strength of our investment thesis,” says Malliet, who explains that BKM has maintained a niche focus on value-add multi-tenant industrial assets since its inception.
“Because we understand this property type inside and out, we are consistently able to acquire these properties at a significant discount to replacement cost, providing our team with an opportunity to improve the performance of the asset and generate a return for our investors.”
For a complete copy of the company’s news release, please contact:
Junior Account Executive
Brower, Miller & Cole
895 Dove Street, Third Floor
Newport Beach, CA 92660
p: (949) 955-7940
Posted by Alex at 12:00 PM