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Alternative Assets  + Real Estate  |  August 1, 2023
BKM Partners with StepStone Real Estate
Joe Palmisano
By: Joe Palmisano

BKM Partners with StepStone Real Estate   

BKM Capital Partners, a Newport Beach, CA real estate fund manager and operator, has partnered with StepStone Real Estate (SRE), the real estate arm of the $138 billion global private markets investment firm StepStone Group. 

Through a GP-led secondary direct transaction, the partnership began with SRE’s acquisition of BKM’s limited partners’ interests in two large, stabilized industrial properties in Las Vegas, NV and Burbank, CA. 

The partnership invests alongside BKM Industrial Value Fund II, the second in BKM’s series of value-add funds focused on small- and mid-bay light industrial properties, which includes Pacific Business Center, a 748K square-foot Class-A light industrial park in Henderson, NV and Backlot Burbank, a 306K square-foot Class-A light industrial park in Burbank, CA. 

SRE plans to expand its portfolio by co-investing in additional small- and mid-bay light industrial assets across the Western US. 

“Combining our expertise in value-add real estate investment with StepStone’s proven track record in the global real estate market, we are poised to unlock unparalleled opportunities,” said Brian Malliet, Founder and CEO of BKM Capital Partners. 

Pictured: Pacific Business Center, Henderson, NV 

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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