NEWPORT BEACH, California and BOCA RATON, Florida — June 3, 2026
Executive Summary
BKM Capital Partners and Kayne Anderson Real Estate have announced the acquisition of an 8.5-million-square-foot light industrial portfolio from Link Logistics for $1.81 billion. The transaction adds 51 multi-tenant light industrial properties across key U.S. markets and expands the Joint Venture’s platform to approximately 15 million square feet under management. The acquisition also includes dedicated operating infrastructure, reinforcing the partnership’s position as one of the largest owner-operators of multi-tenant light industrial assets in the United States.
Announcement Overview
BKM Capital Partners and Kayne Anderson Real Estate have completed the acquisition of an 8.5-million-square-foot industrial portfolio comprising 51 properties, approximately 2,000 units, and 275 buildings located across California, Washington, Texas, and Georgia. Valued at $1.81 billion, the transaction is described as the largest light industrial transaction since 2022 and significantly expands the Joint Venture’s operating footprint. The acquisition includes eight offices and 40 employees supporting property management, leasing, construction, and accounting functions, while increasing total assets under management to approximately 15 million square feet.
Key Announcement Details
- Announcement Type: Portfolio Acquisition
- Acquirers: BKM Capital Partners and Kayne Anderson Real Estate
- Transaction Value: $1.81 billion
- Portfolio Size: 8.5 million square feet
- Portfolio Source: Link Logistics portfolio
- Asset Type: Multi-tenant light industrial properties
- Property Count: 51 properties
- Building Count: 275 buildings
- Unit Count: Nearly 2,000 units
- Occupancy Level: Approximately 90%
- Geographic Markets: California, Washington, Texas, and Georgia
- Market Focus: Top-tier infill industrial submarkets
- Transaction Significance: Largest light industrial transaction since 2022
- Post-Transaction Platform Size: Approximately 15 million square feet under management
- Operating Infrastructure Included: Eight offices and 40 employees
- Included Functions: Property management, leasing, construction, and property accounting
- BKM National Footprint After Acquisition: Nearly 200 employees across 25 offices
- Strategic Objectives: Scale expansion, market density, operating efficiencies, and platform growth
- Planned Capital Improvements: Exterior upgrades, roof improvements, HVAC upgrades, and market-ready improvements
- Office Reconfiguration Strategy: Reduce office buildout from approximately 37% to 33%
- Financial Advisor to Kayne Anderson Real Estate: Truist Securities
- Announcement Date: June 3, 2026
- Primary Sector: Multi-tenant light industrial real estate
- Joint Venture Positioning: One of the largest owner-operators of multi-tenant light industrial assets in the United States
Acquisition Adds 8.5 Million Square Feet Across National Platform
BKM Capital Partners and Kayne Anderson Real Estate announced the acquisition of an 8.5-million-square-foot portfolio from the Link Logistics portfolio for $1.81 billion.
According to the companies, the acquisition significantly expands the footprint and operating platform of the existing Joint Venture across multiple strategic U.S. industrial markets.
Transaction Highlights:
- Purchase Price: $1.81 billion
- Portfolio Size: 8.5 million square feet
- Property Count: 51 properties
- Asset Type: Multi-tenant light industrial
- Markets Covered: California, Washington, Texas, and Georgia
- Transaction Date Announced: June 3, 2026
- Seller Portfolio: Link Logistics portfolio
The acquisition substantially increases the scale of the Joint Venture and strengthens its presence within the light industrial sector.
Marks Largest Light Industrial Transaction Since 2022
The companies stated that the acquisition represents the largest light industrial transaction completed since 2022.
Following completion of the transaction, the Joint Venture’s portfolio expands to approximately 15 million square feet under management, positioning the platform among the largest owner-operators of multi-tenant light industrial properties in the United States.
Post-Acquisition Scale:
- Approximately 15 million square feet under management
- One of the largest owner-operators of multi-tenant light industrial assets in the U.S.
- Expanded national operating footprint
- Greater market density across key industrial corridors
- Enhanced operating capabilities across multiple regions
The companies indicated that the transaction further strengthens their long-term strategy within the multi-tenant light industrial sector.
Portfolio Composition
The acquired portfolio consists of a substantial concentration of light industrial assets located within established infill submarkets across high-growth regions.
Portfolio Characteristics:
- 51 multi-tenant industrial properties
- 275 industrial buildings
- Nearly 2,000 individual units
- Approximately 90% occupied
- Located within infill industrial markets
- Positioned across high-growth regions
Geographic Markets Include:
- California
- Washington
- Texas
- Georgia
According to the companies, the portfolio is concentrated in markets that align with their long-term investment and operating strategy for multi-tenant industrial real estate.
Acquisition Includes Dedicated Operating Infrastructure
In addition to the real estate assets, the transaction includes an established operating platform designed to support day-to-day portfolio management.
Infrastructure Included in the Acquisition:
- Eight operating offices
- 40 employees
- Property management teams
- Leasing professionals
- Construction personnel
- Property accounting functions
The inclusion of operational infrastructure provides immediate support for portfolio management activities and strengthens the Joint Venture’s capabilities across acquired markets.
BKM Expands National Operating Platform
According to the announcement, the transaction significantly increases BKM Capital Partners’ operating scale across several of the country’s most important multi-tenant light industrial markets.
The company stated that the acquisition strengthens its ability to leverage:
- Market density
- Local operating expertise
- Property-level execution
- Regional operating efficiencies
- Tenant service capabilities
- Broker relationships
Following the acquisition, BKM’s platform expands substantially.
BKM Platform Scale Following the Acquisition:
- Nearly 200 employees nationwide
- 25 offices across the United States
- Expanded presence in small-bay industrial markets
- Expanded presence in mid-bay industrial markets
- Broader national operating infrastructure
The company indicated that increased scale supports stronger execution across the expanded portfolio.
Leadership Commentary
Al Rabil, Co-Founder and Chief Executive Officer of Kayne Anderson Real Estate, commented on the transaction and the firm’s investment strategy.
“At Kayne Anderson Real Estate, we continue to focus on sectors where we see durable demand drivers and the opportunity to create value through scale, vertical integration and operational expertise.”
“Multi-tenant light industrial remains a highly fragmented segment with compelling fundamentals, and this transaction reflects our conviction in the strategy as well as our ability to partner with leading operators such as BKM to build differentiated platforms in attractive markets.”
Al Rabil stated that the transaction reflects the firm’s continued focus on sectors supported by scale, operational expertise, and long-term investment opportunities.
BKM Commentary on Platform Expansion
Brian Malliet, Founder, Chief Executive Officer and Chief Investment Officer of BKM Capital Partners, discussed the strategic significance of the acquisition.
“This acquisition marks the largest addition to BKM’s platform to date and is representative of the strategy we have deployed in the multi-tenant light industrial space for years.”
“It not only underscores the importance of deep operating expertise in this sector but also adds meaningful scale to our platform at a time when institutional interest in the light industrial segment is rapidly accelerating.”
“This partnership combines Kayne Anderson Real Estate’s institutional capital and long-term investment perspective with BKM’s disciplined market-by-market execution and integrated, on-the-ground infrastructure that are essential to delivering a stronger day-to-day experience for our tenants and brokers.”
According to Brian Malliet, the acquisition represents the largest expansion of BKM’s platform and reflects the firm’s long-standing strategy within the multi-tenant light industrial sector.
Business Plan for the Acquired Properties
The companies outlined several operational initiatives planned for the newly acquired portfolio.
Planned Property Improvements Include:
- Targeted exterior upgrades
- Roof improvements
- HVAC upgrades
- Market-ready improvements for vacant units
- Selective property reconfiguration
- Office space optimization initiatives
A key focus of the strategy involves reducing office buildout levels across portions of the portfolio.
Office Configuration Strategy:
- Current office buildout: Approximately 37%
- Target office buildout: Approximately 33%
- Additional office conversion projects planned at select assets
The companies stated that these initiatives are intended to support operational performance across the portfolio.
Truist Securities Served as Financial Advisor
The companies disclosed that Truist Securities served as financial advisor to Kayne Anderson Real Estate in connection with the transaction.
About BKM Capital Partners
BKM Capital Partners, headquartered in Newport Beach, California, is an institutional fund manager and operator focused exclusively on multi-tenant light industrial properties.
According to the company:
- Founded: 2013
- Headquarters: Newport Beach, California
- Asset Focus: Multi-tenant light industrial properties
- Assets Acquired Since Inception: Nearly 40 million square feet
- Transaction Value of Acquired Assets: Nearly $8 billion
The company stated that its platform combines market specialization, operational expertise, and institutional investment management capabilities focused on the light industrial sector.
BKM continues to expand its investment management platform through:
- Strategic joint ventures
- Institutional investment funds
- Separate account capital relationships
About Kayne Anderson Real Estate
Kayne Anderson Real Estate is a real estate investment firm managing approximately $22 billion in assets under management across equity and debt investment strategies.
The firm’s investment capabilities span multiple property sectors, including:
- Medical office
- Seniors housing
- Off-campus student housing
- Multifamily housing
- Self-storage
- Light industrial
Kayne Anderson Real Estate operates as part of Kayne Anderson, an alternative investment management firm with approximately $43 billion in assets under management.
The broader platform maintains investment expertise across:
- Real estate
- Infrastructure
- Energy
- Credit
Media Contact
For additional information, visit bkmcp.com.
Source Attribution
Source: Company announcement
