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| Nima Taghavi |
NEWPORT BEACH, CA – BKM Capital Partners,
an institutional fund manager with a niche focus on value-add, multi-tenant
light industrial investments, has announced the first close of its second
institutional fund, BKM Industrial Value Fund II, L.P., with
$135 million in equity commitments as well as $25 million in co-investments.
The firm also currently has an
additional $100 million of soft circled equity commitments from European and
U.S. institutional investors.
The fund is comprised of a mix of institutional investors including a U.S.
College Endowment, U.S. State Pension Fund, a large U.S. Insurance Company, a
German Trust, U.S. Fund of Funds, and a Canadian Family Office, according to Nima
Taghavi, Chairman of the Board and Co-Founder of BKM Capital Partners.
“Our first institutional fund, which closed in 2016 and is fully invested, has
the same strategy as this second fund of acquiring value-add multi-tenant
industrial assets throughout major metro markets in the Western U.S.,” says
Taghavi.
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| Brian Malliet |
“Fund
I had a target net IRR of 15-percent, but is performing at a 19-percent net
fund IRR. Additionally, we recently sold the first three assets in our Fund I,
achieving gross IRRs on all three above 37-percent and multiples that
ranged from 2.0-2.5.”
According to BKM’s Co-Founder and CEO, Brian Malliet, the success
demonstrated by these returns is a testament to BKM’s niche strategy, execution
platform and the growing understanding and demand for light multi-tenant
industrial properties across the U.S.
“We have an extremely
strong pipeline of value-add investment opportunities, and this $160 million
closing allows us to immediately begin deploying capital,” Malliet notes.
“By
being strategic in our specific focus and operator execution platform, we will capitalize
on the growing demand for properties that serve as ‘last mile’ delivery hubs
for retailers and industrial users. This will maximize returns to our investors
while we continue to fundraise over the course of the year.”
For more information, please contact:
Jordan Kruk / Lexi Astfalk
Brower Group
(949) 955-7940
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