Latham & Watkins Advises on Sale of Two Southern California Properties by Staley Point Capital and Bain Capital Real Estate

Staley Point Capital (Staley Point), a value-add investor focused on industrial properties in Southern California, and Bain Capital Real Estate (Bain Capital Real Estate), the real estate investing business of Bain Capital, have announced the sale of two industrial real estate assets for US$54 million, or US$339 per square foot.

The Staley Point and Bain Capital Real Estate joint venture originally acquired the two properties, 331 Cliffwood Park Street (Cliffwood) and 10907 Painter Avenue (Painter), via separate transactions in 2021. Cliffwood is a fully leased, single-tenant warehouse in Brea that offers convenient access to the rest of the county via the 57 freeway. Painter is a newly renovated, multi-tenant logistics facility in Santa Fe Springs that is located just 20 miles from the Port of Long Beach. Together, Cliffwood and Painter comprise 160,000 square feet.

Latham & Watkins LLP advised the Staley Point and Bain Capital Real Estate joint venture in the transaction with a real estate deal team led by Century City partner Matthew Friedrich, with associate Sami Cleland.