SAN DIEGO, CA – June 23, 2017 – BKM Capital Partners (“BKM”) and Canyon Partners Real Estate LLC® (“Canyon”) announced today the acquisition of Ponderosa Technology Park (“Property”), a 156,224 square-foot multi-tenant industrial property in San Diego. The acquisition of Ponderosa Technology Park is the first investment completed by BKM in its programmatic joint venture (“JV”) with the Canyon Catalyst Fund (“CCF”), the CalPERS real estate emerging manager program managed by Canyon.
“Ponderosa Technology Park offers diverse unit sizes and configurations that can accommodate a broad variety of tenants,” said Brian Malliet, CEO and co-founder of BKM. “It is ideal for our niche approach of targeting assets that require hands-on management and improvements to support an evolving tenant base.”
Ponderosa Technology Park includes eight buildings situated between the I-15 Freeway and the intersection of the I-805 and SR-163 freeways. This location provides excellent access to the key commercial centers of San Diego County. The Property was constructed in 1978; the JV plans to complete an extensive renovation and improve vacant suites to market ready condition.
“Our comprehensive capital improvement program will allow us to attract and retain high quality tenants,” said Brett Turner, Director of Acquisitions at BKM Capital Partners. “We also plan to improve the Property’s performance by leasing up vacant space as the building is currently 87 percent occupied.”
Planned improvements will address deferred maintenance to increase the park’s aesthetics.
“The Property is in the desirable market of Kearny Mesa,” said Malliet. “We believe our comprehensive services and improvements to the Property will be attractive to the diverse tenants drawn to the area.”
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 Partners Real Estate 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.
(914) 686 5599