BKM Capital Partners Promotes Mason Waite to Partner as Brett Turner Is Named CIO
NEWPORT BEACH, Calif. — BKM Capital Partners, an institutional fund manager and operator focused exclusively on small- and mid-bay light industrial properties across the United States, announced a series of promotions within its Executive Leadership Team on Oct. 19, 2026. The firm promoted Brett Turner to chief investment officer and named Turner, Mason Waite, Mike Valdes and Susan Rounds to the newly created role of Partner.
Waite, who joined BKM in 2016, was promoted to Partner and Managing Director of Asset & Portfolio Management. The four executives are the firm's first Partners. The announcement follows a year in which BKM grew its assets under management and portfolio 75% each through the third quarter.
BKM Capital Partners Names First Partners
Turner succeeds BKM's founder, Brian Malliet, as chief investment officer. Malliet will continue to lead the company as chief executive officer.
Beyond their day-to-day roles, Partners are expected to help set the firm's strategic direction, collaborate across departments and represent BKM to investors, lenders and clients, the firm said. The designation complements BKM's long-term incentive plan, pairing economic alignment with formal leadership recognition. The four Partners share more than 36 years of combined tenure at BKM.
"BKM is a far larger company than it was a year ago, let alone at its inception, and that growth was driven by a strong and dedicated team," Malliet said. "Our investors and joint venture partners, who commit capital to us for years at a time, should know that BKM's leadership runs deeper than its founder. Brett, Mason, Mike and Susan each oversee a critical part of this platform, and they run it the way owners would."
"Being a Partner means taking responsibility for decisions that extend beyond your own department," Malliet added. "I'm looking to this group to help set priorities for the whole firm and hold one another accountable for carrying them out. That collective responsibility will become even more important as BKM scales."
Mason Waite Leads Asset and Portfolio Management
As Partner and Managing Director of Asset & Portfolio Management, Mason Waite leads BKM's Asset Management, Portfolio Management, Leasing and Construction teams. He is also a member of the firm's Investment Committee. Waite has executed more than 2,000 leases and overseen upward of $300 million in capital improvement projects during his career.
In the first three quarters of 2026, Waite and his team signed 786 new leases and renewals while working to integrate and reposition the properties the firm acquired this year.
"Small-bay tenants are local and regional businesses that expect a landlord who answers the phone, and that shouldn't change just because the portfolio got bigger," Waite said. "Our teams have taken on more than 11 million square feet this year while continuing to lease and improve the buildings we already own. Holding that standard of service across 26 million square feet is the part of this job I take most seriously."
Turner, Valdes and Rounds Take Expanded Roles
As Partner and chief investment officer, Turner will lead BKM's investment platform, overseeing acquisitions, dispositions, underwriting, strategic partnerships, portfolio strategy and Investment Committee governance. He helped found BKM in 2013 and has driven more than $9 billion in transactions, including the acquisitions that brought the firm into Atlanta, Miami and Austin this year. Formerly senior managing director of Acquisitions & Dispositions, Turner will continue to serve on the Executive Committee and as chair of the Investment Committee.
"Brian and I started BKM in 2013 with the conviction that small-bay industrial was an overlooked opportunity. Since then, we've helped establish it as an institutional asset class," Turner said. "Our strategy remains focused on disciplined growth: expanding in markets with compelling fundamentals, applying rigorous underwriting and pursuing differentiated opportunities where we can create lasting value."
Valdes, who joined BKM in 2018, is Partner, chief financial officer and chief operating officer. He was promoted to the combined executive role in June after serving as senior managing director of Finance and Accounting. He oversees the firm's finance, accounting, treasury, tax, reporting and operations functions. A certified public accountant, Valdes previously spent nearly eight years in PwC's Financial Services advisory practice.
Rounds, who joined BKM in 2021, is Partner and Managing Director of Operations & Administration. She oversees divisions including Marketing and Communications, IT and Technology, HR and Administration, and Strategic Initiatives. She also chairs the firm's Compensation Committee and serves on its AI Task Force. Through the third quarter of 2026, Rounds and her teams supported a 59% increase in headcount, to 212 employees, and the addition of 12 offices, bringing BKM's total to 25.
Growth Behind the Leadership Changes
Founded in 2013, BKM has grown from a regional investor focused on the Western United States into a national investment and operating platform. Through the third quarter of 2026, its assets under management and portfolio each grew 75%, to more than $5.6 billion and 26 million square feet across nine states.
In May 2026, BKM and Kayne Anderson Real Estate acquired an 8.5-million-square-foot portfolio from Link Logistics, a Blackstone affiliate, for $1.81 billion. The firms described it as the largest light-industrial transaction since 2022. The portfolio comprises 51 multitenant properties, 275 buildings and nearly 2,000 tenant spaces across California, Washington, Texas and Georgia, and was approximately 90% occupied at acquisition. Buildings range from 2,841 square feet to 246,592 square feet, with most below 100,000 square feet. The purchase expanded the BKM-Kayne Anderson joint venture to approximately 15 million square feet under management.
BKM entered 2026 with approximately 14.7 million square feet across 97 assets valued at $3.2 billion. It ended the first half with 24.8 million square feet across 161 properties and about $5.4 billion in assets under management. First-half acquisitions totaled 64 properties and 10.1 million square feet, including the Kayne Anderson joint venture. In March, BKM announced a capital partnership with Tripost Capital Partners after surpassing $3 billion in assets under management, entering Texas and Florida, and completing nearly 6 million square feet of acquisitions across 42 properties.
Operating Demands of Small-Bay Industrial
Small-bay industrial portfolios are operationally intensive because they contain large numbers of individual buildings and tenants. The acquired Link Logistics portfolio alone includes nearly 2,000 units across 275 buildings, making leasing activity, tenant retention, maintenance and capital project management significant factors in portfolio performance. Rapid acquisitions can increase assets under management and square footage faster than systems, staffing and regional teams can absorb them.
The Partner designation gives formal status to the executives responsible for investments, leasing and construction, financial controls and treasury, and technology, human resources and administration. BKM's 25 offices and 212 employees form part of the operating infrastructure for a geographically dispersed portfolio.
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