BKM Capital Partners forms partnership with StepStone Real Estate
BKM Capital Partners (BKM) has formed a partnership with StepStone Real Estate (SRE), the real estate arm of global private markets investment firm StepStone Group.
In this so-called GP-led secondary direct transaction, the BKM-SRE partnership commenced with SRE’s acquisition of BKM’s limited partners’ interests in two large, stabilized industrial properties located in the high-growth markets of Las Vegas and Burbank, Calif., and a commitment of fresh capital to expand the portfolio by acquiring additional value-add small- and mid-bay light industrial assets.
The BKM-SRE partnership is investing alongside BKM Industrial Value Fund II, the second in BKM’s series of value-add funds focused on the small- and mid-bay light industrial space. The partnership includes ownership interests in Pacific Business Center, a 748,000-square-foot class A light industrial park in Henderson, Nev., and Backlot Burbank, a 306,000-square-foot class A light industrial park in Burb