Latham & Watkins Advises StepStone Real Estate in Partnership With BKM Capital Partners

Latham & Watkins advised StepStone Real Estate, the real estate arm of New York-based private markets investment firm StepStone Group, in its partnership with BKM Capital Partners, a Newport Beach, California-based real estate fund manager, through a GP-led direct secondary transaction. Under the SKM-SRE Partnership, StepStone acquired a 20-30% ownership interest in two stabilized Class A light industrial properties. In addition to acquiring the ownership interests, StepStone will commit fresh capital to expand the partnership’s portfolio by co-investing in the acquisitions of small and mid-bay light industrial assets across the western US.

Latham & Watkins LLP represented StepStone in the investment with a corporate team led by New York partners Michael Haas and Justin Elliott, with associates Samuel Steinman, Tim Wilt, and Aida Vajzovic. Advice was also provided on tax matters by New York partner Greg Hannibal.