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BKM Capital Partners (BKM) and Kayne Anderson Real Estate acquired an 889,352-square-foot light industrial portfolio in Metro Phoenix for $167.9 million. The transaction was completed at a significant discount to replacement cost. An affiliate of Equus Capital Partners sold the portfolio, which features 364 units in 41 buildings, collectively 89% occupied by a diverse array of tenants.  

The properties, primarily built in the 1970s and 1980s, have a collective WALT of approximately two years, presenting a 22% mark-to-market opportunity in rental rates.