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Updated Jan 13, 2025

BKM Capital Partners Secures $550 Million Recapitalization For Nine-Property Industrial Portfolio
SOLDIndustrial

BKM Capital Partners Secures $550 Million Recapitalization For Nine-Property Industrial Portfolio

$550,000,000

$262/SF

Building Size

2,100,000 SF

Asset Type

Industrial

Closing

Dec 12, 2024

About this deal

AI

BKM Capital Partners completed a $550M recapitalization of a nine-property, 2.1M-square-foot light industrial portfolio in the Western U.S., covering markets in Burbank, Concord, Fremont, Vista, Tempe, Englewood, Las Vegas, and Kent. This transaction involved an asset type categorized as industrial.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $550,000,000
  • Asset Size: 2,100,000 SF
  • Loan Type: Recapitalization
  • Markets: Burbank, Concord, Fremont, Vista, CA; Tempe, AZ; Englewood, CO; Las Vegas, NV; Kent, WA

Brian Malliet and Al Rabil were key individuals involved in this transaction, representing BKM Capital Partners. This deal also marks Kayne Anderson Real Estate’s first investment in the small-bay industrial sector, highlighting BKM's capability to drive rent growth within its expanding $4.3B portfolio.

Players

First Citizens Bank
First Citizens BankLender

Market Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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