BKM Capital Partners has kicked off 2020 with a major acquisition. The firm acquired an 11-property industrial portfolio for $425 million. The properties are located throughout Western US states in Phoenix, Portland and California. The portfolio includes 2.7 million of space, 493 units and is nearly 90% occupied.

"BKM's expertise is in acquiring and improving value-add multi-tenant light industrial properties in key markets throughout the western U.S., and we actively invest in Phoenix, Northern and Southern California, and Portland," Brett Turner, managing director of acquisitions at BKM Capital Partners, tells GlobeSt.com. "Each property in this newly acquired portfolio is within our targeted markets, a product-type fit, and within our targeted return profile for our investors; therefore, these assets were complementary to our existing portfolio."

BKM purchased the portfolio through its Industrial Value Fund II and through its partnership with Canyon Catalyst Fund. "We acquired eight of the properties through our BKM Industrial Value Fund II and three of the properties in partnership with Canyon Catalyst Fund, which is Canyon Partners' real estate emerging manager program managed on behalf of the California Public Employees' Retirement System," says Turner. "This funding structure was mutually beneficial for our firm and CalPERS."