BKM Capital Partners (BKM), a vertically integrated institutional fund manager specializing in multi-tenant light industrial real estate, and Kayne Anderson Real Estate, the real estate investment arm of Kayne Anderson, have acquired an 889,352-square-foot portfolio in Metro Phoenix. The $167.9 million acquisition, which involves eight small-bay properties in the top-performing Airport and Tempe submarkets.
The transaction was completed at a significant discount to replacement cost, creating a favorable all-in basis relative to recent comps. An affiliate of Equus Capital Partners, Ltd. sold the portfolio, which features 364 units in 41 buildings that are collectively 89 percent occupied by a diverse array of tenants.
“This was a rare opportunity to acquire a diverse collection of infill assets across Tempe and Phoenix, each with its own path to value,” said Brian Malliet, CEO and CIO at BKM. “As Phoenix transforms into a high-tech manufacturing and logistics hub
