Four Valley Industrial Properties Change Hands in Massive Portfolio Sale

Article originally posted on Phoenix Business Journal on February 13, 2020

Four Valley industrial properties were among a massive portfolio sale by Blackstone Property Advisors that included assets across Arizona, California and Oregon.

Newport Beach, California-based BKM Capital Partners acquired 11 properties, eight of which were purchased through the BKM Industrial Value Fund II. Three properties were purchased in partnership with the Canyon Catalyst Fund, which is Canyon Partners’ real estate emerging manager program managed on behalf of the California Public Employees’ Retirement System.

The four Arizona properties had a combined sale price of $157.5 million. In total, the 11-property portfolio sold for $425.37 million.

In the Valley, the properties purchased were:

  • Magnolia, a 35,385 square-foot building at 2655 Magnolia Street in Phoenix;
  • Hohokam 10E, an 82-unit multi-tenant industrial property along South 48th Street, 12th Street and South Park Lane in Tempe;
  • Broadwood, a four-building, 34-unit multi-tenant industrial property at 2450-2452 W. Broadway Road in Mesa;

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Hohokam 10E in Phoenix was among an 11-property portfolio acquired by BKM Capital Partners in Arizona, California and Oregon.