ATLANTA — BKM Capital Partners and Kayne Anderson Real Estate have purchased a six-property industrial portfolio in metro Atlanta totaling 404,424 square feet. JLL represented the sellers, Berkeley Partners and Brookfield Secondaries Group, in the transaction. The sales price was not disclosed.
The portfolio of shallow-bay properties was 89 percent occupied at the time of sale, with a weighted average lease term (WALT) of 2.7 years. The assets include three properties in the northeast Atlanta region — 3400 Corporate Way, Peachtree Industrial Boulevard and Young Court — as well as two properties in northwest Atlanta — Rubicon Business Center and Cobb International. The sixth property was an infill facility located in the city’s Upper Westside district at 4938 S. Atlanta Road.
BKM and Kayne Anderson plan to make capital improvements across the portfolio, including exteriors, landscaping, roofs and HVAC systems and renovating vacant space to accelerate the lease-up process.