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| Rose Garden Business Park, Phoenix, AZ |
PHOENIX, AZ – BKM Capital Partners,
an institutional fund manager with a niche focus on value-add, multi-tenant
light industrial, has acquired four industrial business parks encompassing
442,173 square feet in the Phoenix metro area for a total consideration of
$34.45 million.
The firm, which recently announced the final
close of its debut institutional fund, BKM Industrial Value Fund I L.P., now
has more than $150 million in assets under management.
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| Brian Malliet |
“The ability to source off-market
opportunities in the current market is what sets a good fund manager apart,”
says Brian Malliet, CEO and
Co-Founder of BKM Capital Partners, who notes that a recent report by Preqin
indicated that finding investment opportunities would be the most difficult
challenge for private real estate managers in 2016.
“We are bucking the
trend,” Malliet says. “As opposed to a
slowdown, we are nurturing a growing pipeline of off-market investment
opportunities, and have already invested roughly 50 percent of our equity in
assets just six weeks after the Fund closed.
“ The off-market
acquisition of these four high-quality properties in the dynamic Phoenix market
will add deep value to our growing portfolio, and we are eager to demonstrate
proven returns in our multi-tenant light industrial product niche.”
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BKM Capital Partners’
recently acquired properties include the Rose Garden Business Park, Metro
Industrial Center, and 4100 Broadway in Phoenix, as well as the Arizona
Corporate Center in Chandler, Arizona.
With these acquisitions, the firm now has nearly one million square feet
under management in the Phoenix market.
BKM acquired the four
assets in a portfolio transaction from a private Los Angeles-based owner. With this portfolio of assets, BKM now boasts
11 assets in the BKM Industrial Value Fund I with four more assets in escrow at
roughly $25 million combined.
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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