Los Angeles and Boston, April 28, 2021 – Staley Point Capital (“Staley Point”), a value-add investor focused on industrial properties in Southern California, and Bain Capital Real Estate, the real estate investing business of Bain Capital, today announced the acquisition of a 58,000 square-foot industrial property in Santa Fe Springs for $14.3 million.
“We are pleased to complete this transaction and expand our presence in the Santa Fe Springs community,” said Eric Staley, Managing Director of Staley Point. “In this case, our ability to move quickly and provide certainty of execution differentiated us as a buyer and we are continuing to evaluate a steady flow of investment opportunities across Southern California.”
The property is located at 10907 Painter Avenue, just 20 miles from the Port of Long Beach, and includes eight dock high loading positions, as well as convenient access to the Interstate 5 and 605 freeways. The transaction marks the third deal completed by Staley Point and Bain Capital Real Estate The firms acquired Freeway Drive, an 83,000 square-foot Santa Fe Springs industrial property, and a land site in the San Fernando Valley.
"Our approach to industrial investments is centered on unlocking value in properties that will benefit from enduring trends and long-term demand drivers," said Andrew Terris, a Managing Director at Bain Capital Real Estate. "The experience and expertise our partnership brings to these opportunities, coupled with Staley Point's local relationships, enabled us to source and effectively execute this attractive acquisition."
Staley Point Capital and Bain Capital Real Estate have a joint venture that is undertaking development and redevelopment projects and acquiring existing infill industrial properties near dense population centers, primarily in Southern California.
Greenberg Traurig, LLP served as legal counsel to Staley Point Capital for the transaction. The Klabin Company represented both the buyer and seller and JLL Capital Markets will arrange the loan financing.
About Staley Point Capital
Staley Point Capital is a Los Angeles-based real estate investment firm. The firm was founded in 2019 by Kevin Staley and focuses on the acquisition of value-add and opportunistic real estate investments primarily in the industrial sector. Notable Southern California investments have included The Citadel in the City of Commerce, Magellan Gateway in El Monte and a self-storage portfolio, Magellan Storage. To find out more, visit www.staleypoint.com.
About Bain Capital Real Estate
Bain Capital Real Estate (https://www.baincapital.com/businesses/real-estate) was formed in 2018 and pursues investments in often hard-to-access sectors underpinned by enduring secular trends that drive long-term demand growth for real estate assets and services. The Bain Capital Real Estate team has been executing its strategy since 2010 (formerly as a part of Harvard Management Company), having invested over $4.5 billion of equity in over 440 assets across multiple sectors. Bain Capital Real Estate focuses on small to mid-sized assets where the team applies its deep industry expertise to accelerate impact and drive operational improvements. Bain Capital Real Estate’s strategy aligns with the value-added investment approach that Bain Capital pioneered and leverages the firm’s global platform and significant experience across asset classes to further bolster its insights and sourcing capabilities.