Staley Point Capital, a value-add investor focused on industrial properties in Southern California, and Bain Capital Real Estate, the real estate investing business of Bain Capital, have acquired 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, 20 miles from the Port of Long Beach, and includes eight dock high loading positions and access to the Interstate 5 and 605 freeways. The transaction marks the third deal completed by Staley Point and Bain Capital Real Estate.
“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 Co. represented both the buyer and seller and JLL Capital Markets will arrange the loan financing.