Bain Capital Real Estate and 11North Partners have closed a capital raise of up to $1.6 billion to invest in grocery-anchored, open-air retail centers across the U.S. and Canada.
Including additional capital from Bain Capital Real Estate Fund III, the platform now has access to over $2 billion in deployable equity, targeting core plus and value-add strategies. Formed in April 2024, the platform focuses on acquiring retail centers with high concentrations of necessity-based tenants and stable long-term demand. Since launch, it has built a diversified portfolio of cash-flow-resilient assets in markets benefiting from strong population and income growth. Recent acquisitions include a $395 million, 10-asset Publix-anchored portfolio in Florida and Charleston, S.C., as well as three lifestyle centers in Oklahoma City acquired for approximately $212 million.