Newport Beach-based BKM Capital Partners announced this week it entered into a $1.5 billion joint venture partnership with Los Angeles-based Kayne Anderson Real Estate. The joint venture will specialize in light industrial real estate.
BKM Capital Partners, in a statement, said the $1.5 billion commitment from Kayne Anderson Real Estate would “support the acquisition and value-add repositioning of a targeted portfolio of small-bay and mid-bay industrial properties, in a sector poised for continued demand.”
“The partnership allows for large-scale capital deployment into the light industrial sector and deepens BKM’s presence nationwide,” BKM Capital Partners continued with its statement. “The (joint venture) will focus on middle-market properties with below-market rents, high vacancy, and/or operational inefficiencies that can be acquired at a discount to replacement cost and well below peak pricing and then repositioned to drive value.”
The joint venture would help BKM Capital Partners, which invested in properties across the Western United States, to expand into infill markets across the country. BKM Capital Partners hopes to double its platform to $5 billion of assets under management within the next 18-24 months.
Read the May 12 issue for more information.
