Staley Point Capital and Bain Capital Real Estate acquire two Southern California infill assets for $42.6 million

The joint venture of the companies has been closed $87 million in acquisitions in five transactions since the beginning of the year

LOS ANGELES, August 5, 2024 /PRNewswire/ — Staley Point Capital (“Staley’s Point“), a value-add investor focused on industrial real estate on the West Coast, and Bain Capital Real Estate (“Bain Capital”), an investment arm of Bain Capital, today announced the acquisition of two high-quality industrial assets in Orange County AND North Los Angeles with a total area of ​​232,000 square feet. The properties were purchased for a total amount $42.6 million Or 183 PLN per square foot, which represents a significant discount over replacement cost.

The assets are located at 2335 Moore Ave. Fullerton, California and 21339 Nordhoff St. in Chatsworth, California. Moore has a total of 162,000 square feet of space West Fullerton submarket Orange Countywhich has only a 2.1% vacancy rate and 0.6% under construction. The asset is fully leased to a food user who benefits from existing temperature-controlled improvements, 26 loading bays on the docks and a concrete mixer yard. Nordhoff is 70,000 square feet and is located in the San Fernando Valley, where the vacancy rate is 1.6% and construction activity is less than 1.0% of the industrial base. The facility is fully leased to a global credit tenant who benefits from significant capacity and proximity to a highly educated workforce, making it ideal for advanced manufacturing.

“These acquisitions underscore our commitment to investing in well-located industrial assets that benefit from strong demographics and existing tenants,” he said. Eric StaleyManaging Partner, Staley’s Point“Both properties are consistent with our infill investment strategy, offering compelling value in submarkets with very tight supply and strong long-term demand fundamentals.”

Staley’s Point and Bain Capital are active industrial investors on the West Coast that have closed investments $87 million in acquisitions since the beginning of the year in five transactions. The joint venture of these companies is also a strategic seller and recently announced the sale of two assets in Buena Park, California (Orange County)bringing complete dispositions $231 million in the last 24 months.

“These are high-quality assets that complement our diversified industrial portfolio on the West Coast,” he said. Andrew TerrisPartner at Bain Capital. “We believe these markets are well-positioned to benefit from continued demand and rental growth, and we look forward to pursuing additional opportunities in the region that align with our thematic investment approach.”

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About Staley Point Capital
Stalley Point Capital is a Los Angeles-based real estate investment firm founded in 2019 by Kevin Stalley and focuses on acquiring value-add properties and opportunistic investments, primarily in the industrial sector. The current portfolio is diversified across Southern California, Seattle and the San Francisco Bay Area. For more information, visit www.staleypoint.com.

About Bain Capital Real Estate
Bain Capital Real Estate was founded in 2018 and invests in often hard-to-reach sectors supported by enduring secular trends that drive long-term growth in demand for real estate assets and services. Bain The Capital Real Estate team has been executing its strategy since 2010 (formerly as part of Harvard Management Company) and has invested and committed over $8.3 billion in equity capital across multiple sectors. Bain Capital Real Estate focuses on assets where the team leverages its deep industry knowledge to accelerate outcomes and drive operational improvements. Bain Capital Real Estate’s strategy is consistent with a value-added investment approach, Bain Capital is a pioneer and leverages the firm’s global platform and deep experience across asset classes to further strengthen its knowledge and acquisition possibilities. Bain Capital is one of the world’s leading private investment firms, with approximately $185 billion in assets under management. For more information, visit https://www.baincapitalrealestate.com.

Media contacts

For Staley Point Capital
Morgan McGinnis, Prosek Amplifier
[email protected]

For Bain Capital Real Estate
Scot Lessne
Stanton
(646) 502-3569
[email protected]

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SOURCE Staley Point Capital