BKM Capital Partners has raised $105m (€94.8m) for a US industrial vehicle.
The investment manager said the final close of its BKM Industrial Value Fund I provide it $300m of buying power.
Commitments came from institutional investors and high net worth investors.
The fund has a focus on value-add, multi-tenant industrial properties throughout the Western US, with a focus on Washington, Oregon and California.
The California-based company said it also raised capital from a “friends and family round”, with $100m invested in seed assets.
The vehicle is targeting assets that have significant value-creation opportunity over a five-year period.
BKM plans to renovate, reposition and re-let properties.
It said it has bought more than $150m of assets in Las Vegas, Phoenix and Portland.