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| Brian Malliet |
ORANGE COUNTY, CA – BKM Capital
Partners, an institutional fund manager with a niche focus on value-add,
multi-tenant industrial investments, has announced the final close of its debut
institutional fund, BKM Industrial Value Fund I, L.P., with $105 million in
equity commitments and $300 million in buying power.
The fund’s commitments
come from both institutional investors as well as a small pool of high net
worth investors.
“We took an approach that is
different than other first time funds,” says Brian Malliet, CEO and Co-Founder of BKM Capital Partners and Nima Taghavi, Executive Chairman of BKM
Capital Partners. “Rather than
immediately pursuing institutional capital after launching our business, we
invested our own capital to build out a real organization.”
According to Malliet, BKM recruited
and hired a highly experienced management team with a proven track record in
operating in an institutional grade real estate investment fund business. The firm also raised a friends and family
round in order to acquire close to $100 million in seed assets
“Through this strategy, we were
able to demonstrate to our larger institutional investors that we can
successfully acquire and generate value with our focused niche, and that it can
be scaled,” Malliet says.
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| Nima Taghavi |
To date, BKM has acquired
more than $150 million in assets for the fund (this includes four assets
currently in escrow) throughout Las Vegas, Phoenix and Portland.
The BKM
Industrial Value Fund I, L.P. has $300 million of buying power that will be
targeted for multi-tenant industrial properties throughout the Western U.S.,
with a focus on markets such as Washington, Oregon and California.
The vehicle is targeting
assets that have significant value creation opportunity over the five year fund
term. BKM has a deep pipeline of potential opportunities and is focused on
efficiently investing the commitments.
After acquiring these properties, BKM plans to renovate, reposition, and
re-tenant each property as needed in order to drive the maximum value for every
asset.
“This value-add strategy,
coupled with our ability to execute, was a major driver of investor interest
during the fundraise period,” says Malliet.
“In addition, potential investors found value in the strength of our
deeply tenured advisory board.”
Through long-standing
business relationships, BKM’s founders attracted a deeply accomplished group to
join the firm’s board of advisors, including former Morgan Stanley CEO John Mack; Jeff Gehl, Managing Director of RCP Advisors; Paul Dolinoy, former Head of Equitable Real Estate National
Marketing and Sales Pension Operation; as well as Nima Taghavi, Executive Chairman of the Board and Co-Founder of BKM
Capital Partners.
According to Taghavi, “I
felt very strongly that one of the components of successfully building our
platform and executing on our long term vision and strategy would be to attract
the caliber of professionals we have been able to attract to join our advisory
board. They are active and involved members and have offered and will continue
to offer us invaluable advice.”
BKM Capital Partners is
well positioned to provide returns for investors over the long term, according
to Malliet, who notes that closing a first-time fund is a noteworthy
accomplishment in the current market climate.
“We would like to express
our sincere appreciation to all of our investors who made our debut fund
possible,” Malliet says. “When we
started our company, only seven percent of all the real estate capital raised
went to first time fund managers. The difference for us has been the strong
relationships we have forged in the institutional investment sector, as well as
BKM’s ability to provide investors with what they value most - proven
results.”
For a complete copy of the company’s news release,
please contact:
Lexi Astfalk / Jenn Quader
Brower, Miller & Cole
(949) 955-7940
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