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Friday, 18 May 2018

BKM Capital Partners Nears Halfway Mark for Latest Industrial Investment Fund

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Commercial Real Estate Direct Staff Report

BKM Capital Partners has raised $135 million in its first close for its latest industrial-property investment fund, and another $25 million of co-investments for the fund.

The Newport Beach, Calif., investment manager also has lined up $100 million of soft commitments from other institutional investors, in both Europe and the United States. The fund is shooting to raise $300 million and expects to have a final close by the end of the summer.

The fund's U.S. investors include a college endowment, state pension fund, life insurance company and a fund of funds. Foreign investors include a German trust and Canadian family office.

The latest vehicle is a follow-up to Fund I, through which BKM had raised $105 million of equity commitments in 2016. That fund is fully invested and shot for a net internal rate of return of 15 percent. So far, it's been generating a 19 percent net IRR. The fund's first three investments have been sold, generating net IRRs of more...





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“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

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  • Syndicate to Realpoint: No
  • Subject: Institutional Investment (INS), Opportunity Funds (OPPY)
  • Private: Yes
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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

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