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2/06/17
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BKM Capital Partners has launched its second institutional fund, BKM Industrial Value Fund II, L.P., which will target $300 mil in equity commitments, delivering $850 mil in buying power. The firm is an institutional fund manager with a niche focus on value-add, multi-tenant light industrial and small and mid-bay industrial warehouse properties.
The new fund, which will invest in the acquisition, improvement and repositioning of undervalued multi-tenant light industrial business parks in markets across the Western U.S., comes on the heels of the closing of BKM’s debut fund, for which the firm raised more than $105 mil in fund equity and $30 mil in co-investment equity for a total of $135 mil.
BKM Capital Partners was founded in 2013 by Brian Malliet and Nima Taghavi who both have 25+ year resumes in the commercial real estate world. “There is a disconnect in the market in our niche asset class that has allowed us to consistently acquire these properties at a significant discount to replacement cost and peak pricing,” says Malliet, CEO and Co-Founder of BKM Capital Partners. “We have a deep pipeline of opportunities, which is why we have more than doubled our target equity goal for Fund II.”
BKM Capital Partners has already closed more than $340 mil in transactions, recently bringing its first three Fund I assets full cycle, achieving IRRs above 38-percent on each asset and multiples ranging from 2.0-2.5.
BKM targets distressed assets that can be renovated, repositioned, and re-tenanted to drive maximum value. BKM’s current portfolio encompasses 18 properties in 4 states including assets in Las Vegas, Seattle, Oregon, and Phoenix, among others. The firm plans to continue to grow its portfolio in the Western U.S.
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