SAN DIEGO, CA – July 10, 2017– BKM Capital Partners (“BKM”) and Canyon Partners Real Estate LLC® (“Canyon”) announced the acquisition of Cabot Business Park, a 139,664 square-foot, multi-tenant industrial property in Hayward, CA. The acquisition of Cabot Business Park is the second investment completed by BKM in its programmatic joint venture with the Canyon Catalyst Fund (“CCF”), the CalPERS real estate emerging manager program managed by Canyon.
“Hayward is quickly becoming a key infill industrial market with unique connectivity to the major transportation infrastructure and leading Bay Area employment centers,” said Brian Malliet, CEO and co- founder of BKM. “Cabot Business Park presents an ideal opportunity to enter this market as an experienced owner and operator of industrial properties.”
The four-building Cabot Business Park is strategically located directly off the I-880 Freeway, the major north-south corridor connecting San Jose to Oakland. The property is 17 miles south of downtown Oakland, 30 miles north of downtown San Jose and 15 miles from the heart of Silicon Valley via the San Mateo Bridge.
“Hayward’s continued growth has lowered vacancy to less than 1% for multi-tenant industrial product,” said Brett Turner, Director of Acquisitions at BKM Capital Partners. “With the property already 91% occupied, we will focus on attracting and retaining high-quality tenants as we implement a capital improvement program designed to enhance the aesthetic of the property.”
The 10.96-acre property was originally constructed in 1986. Unit sizes average 2,800 square feet, which can be combined or divided as needed to accommodate a variety of tenants and configurations.
About BKM Capital Partners
BKM Capital Partners was founded in 2013 by Brian Malliet and Nima Taghavi. Headquartered in Newport Beach, California, BKM Capital Partners is a fund manager specializing in the acquisition and improvement of value-add multi-tenant light industrial properties in metro areas across the Western U.S. Combining a deep knowledge of this niche industrial product type with in-house capabilities including on-site property management, asset management, and construction management, the firm continues to build on its proven track record, generating strong results with high levels of transparency and engagement for investors. Additional information is available at www.bkmcapitalpartners.com.
About Canyon Partners Real Estate LLC
Canyon Partners Real Estate LLC® (“Canyon”) is the real estate direct investing arm of Canyon Partners, LLC. Canyon focuses on providing debt and equity capital for commercial real estate in primary and secondary markets across the U.S., primarily to facilitate asset acquisition, value-add repositioning, development or recapitalization. Since inception, Canyon has invested over $6.3 billion of capital in over 250 commercial real estate and mortgage transactions with a total capitalization of $16.8 billion through its distinct real estate investment platforms.
Founded in 1990, Canyon Partners, LLC is an investment management firm headquartered in Los Angeles which, together with its affiliates, manages approximately $22 billion of assets. For more information visit: www.canyonpartners.com.
About the Canyon Catalyst Fund
The Canyon Catalyst Fund is a discretionary separate account managed by Canyon on behalf of the California Public Employees’ Retirement System (CalPERS) which facilitates investment through the identification of real estate emerging managers with niche strategies, a demonstrated track record and strong potential to access unique investment opportunities. This platform is intended to cultivate the next generation of institutional real estate talent and Canyon, in its capacity as account manager, sources, selects and manages talent, while also maintaining oversight of all platform investments.
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