Acquisition Criteria


Kearny is targeting acquisitions of $500mm in the next 12 months with a focus on value-add opportunistic risk which may include leasing, renovation, entitlement and development.

Product Type - Office, Industrial, R&D/Service Center and land

Project Size

  • $5 – 100 million for land
  • $15 – 500 million for existing assets and portfolios

Hold Period - typically 2 to 6 years

Focus Markets/Locations

  • Southern California from Ventura to San Bernardino to the Mexican border
  • B or better locations
  • Well-located properties close to amenities

Renovation and Re-positioning

  • Any class asset or portfolio in B+ or better location [Example: Kearny South Bay Business Park]
  • Significant vacancy and near-term turnover of below market rents
  • Ability to reset below market rents or sell vacant buildings to users
  • Potential to incorporate extensive upgrades
  • Properties with additional land and/or entitlements [Example: Pasadena Corporate Park, Kearny South Bay]

Land

Stabilized Core Plus Assets

  • Class B- or better
  • Ability to reset below market rents
  • Multi-tenant preferred with largest tenant no more than 50%
  • Potential to incorporate minor strategic improvements
    [Example: Calabasas Courtyard]