{"id":1004674585,"date":"2023-08-02T04:24:57","date_gmt":"2023-08-02T12:24:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004674585"},"modified":"2023-08-02T06:13:12","modified_gmt":"2023-08-02T14:13:12","slug":"bkm-capital-partners-stepstone-team-up","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bkm-capital-partners-stepstone-team-up\/","title":{"rendered":"BKM Capital Partners, StepStone Team Up"},"content":{"rendered":"
\"Backlot<\/a>

BKM paid $84.8 million for Backlot Burbank in 2018. Image courtesy of BKM Capital Partners<\/em><\/p><\/div>\n

BKM Capital Partners<\/strong> has formed a partnership with StepStone Real Estate<\/strong>, the real estate arm of the global private markets investment firm StepStone Group<\/strong>, for a GP-led secondary direct transaction.<\/p>\n

SRE acquired interests in two BKM industrial properties, which are part of the BKM Industrial Value Fund II. The firm has also committed to additional future investments in small- and mid-bay light industrial assets.<\/p>\n

The deal includes ownership in Pacific Business Center, a 748,000-square-foot industrial park in Henderson, Nev. According to CommercialEdge data, BKM acquired the three-building, Class A property in 2019 from Northwestern Mutual Real Estate<\/strong> as part of a $111 million portfolio transaction<\/a>. The second property is a light industrial asset in Burbank, Calif., leased to entertainment companies<\/a>. BKM paid $84.8 million for Backlot Burbank<\/a> in 2018. A joint venture between Shubin Nadal Associates<\/strong> and Penwood Real Estate Investment LLC<\/strong> sold the 306,000-square-foot asset.<\/p>\n

As part of the partnership agreement, StepStone Real Estate will invest in other small- and mid-bay industrial properties across Western U.S markets. At the beginning of the year, the company teamed up with Provender Partners<\/strong> for the recapitalization of a 1 million-square-foot cold storage portfolio<\/a> valued at $158 million. SRE is focused on increasing its portfolio of value-add industrial assets.<\/p>\n

BKM’s deals in 2023<\/h2>\n

BMK closed a major deal earlier this spring. The company, in partnership with Investcorp<\/strong>, expanded its Las Vegas portfolio by 740,000 square feet<\/a>, with the acquisition of seven light industrial properties. Terry York Properties<\/strong> sold the assets for $157.8 million in an off-market transaction.<\/p>\n

More recently, BKM purchased Commerce Carlsbad, an eight-building industrial park in Carlsbad, Calif., which was subsequently renamed Pacific Coast Industrial Center<\/a>. Alexandria Real Estate Equities<\/strong> sold the Class B asset for $44 million.<\/p>\n

BKM has 57 business parks under ownership across the Western U.S. and 9.6 million square feet currently under management.<\/p>\n","protected":false},"excerpt":{"rendered":"

The partnership will focus on the acquisition of light industrial assets. <\/p>\n","protected":false},"author":2829,"featured_media":1004674586,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,15],"tags":[33648,34365],"class_list":["post-1004674585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-west","tag-bkm-capital-partners","tag-stepstone-real-estate"],"acf":[],"yoast_head":"\nBKM Capital Partners, StepStone Team Up - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Stepstone Real Estate, through a partnership with BKM Capital Partners, invested in industrial assets in Henderson, Nev., and Burbank, Calif.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-partners-stepstone-team-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BKM Capital Partners, StepStone Team Up\" \/>\n<meta property=\"og:description\" content=\"Stepstone Real Estate, through a partnership with BKM Capital Partners, invested in industrial assets in Henderson, Nev., and Burbank, Calif.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-partners-stepstone-team-up\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-02T12:24:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-02T14:13:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/Backlot-Burbank.-Image-courtesy-of-BKM-Capital-Partners-e1690970734281.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"936\" \/>\n\t<meta property=\"og:image:height\" content=\"702\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Madalina Pojoga\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-partners-stepstone-team-up\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-partners-stepstone-team-up\/\",\"name\":\"BKM Capital Partners, StepStone Team Up - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-partners-stepstone-team-up\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-partners-stepstone-team-up\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/Backlot-Burbank.-Image-courtesy-of-BKM-Capital-Partners-e1690970734281.jpg\",\"datePublished\":\"2023-08-02T12:24:57+00:00\",\"dateModified\":\"2023-08-02T14:13:12+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7ced0369df035c845a1e5d647c62dd7a\"},\"description\":\"Stepstone Real Estate, through a partnership with BKM Capital Partners, invested in industrial assets in Henderson, Nev., and Burbank, Calif.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-partners-stepstone-team-up\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-partners-stepstone-team-up\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bkm-capital-partners-stepstone-team-up\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/Backlot-Burbank.-Image-courtesy-of-BKM-Capital-Partners-e1690970734281.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/Backlot-Burbank.-Image-courtesy-of-BKM-Capital-Partners-e1690970734281.jpg\",\"width\":936,\"height\":702,\"caption\":\"Backlot Burbank. 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