BKM Capital Partners (BKM) has recapitalized three San Diego business parks from its BKM Industrial Value Fund II with Tokyu Land US Corporation for $76.9 million. The transaction represents the first joint venture between BKM and Tokyu Land US Corporation, a real estate investment and operating company owned by Japan-based Tokyu Fudosan Holdings Group.
Aggregating 342,073 square feet, the small-bay facilities are in a well-located corridor of Otay Mesa, Calif., one of the region’s most active industrial submarkets. The three properties involved in this recapitalization are:
Borderpoint Business Park: Located at 6754, 6774, and 6794 Calle de Linea in San Diego, the asset comprises 16 units totaling 173,330 square feet across three buildings. The asset features 22- to 24-foot-clear ceiling heights, 104 dock-high loading doors, and 14 grade-level loading doors.
Otay Crossing Business Park: Features three units within tw
