BKM Capital Partners (BKM), a fund manager specializing in multi-tenant light industrial real estate, has acquired a two-property portfolio in Houston, for $24.9 million. Fort Capital was the seller.

Completed on behalf of BKM Industrial Value Fund III, the transaction involves 193,819 square feet of light industrial space and represents a notable 42% discount to replacement cost. 

Situated in two of Houston’s most supply-constrained submarkets, the portfolio includes 44 units across seven buildings and is currently 87% occupied by a diverse mix of tenants. Fairway Park Business Center, located on an eight-acre site in Northwest Houston, comprises 135,571 square feet in five buildings constructed between 1974 and 1977. Rockley Road Business Center, located in Southwest Houston, includes 58,248 square feet across two buildings on a four-acre site built in 1980.

BKM plans to execute a $12 million capital improvement program on both properties to enhance both the visual appeal and operational functionality of the assets.

CBRE National Partners represented Fort Capital.