Mastodawn

qwant news | Bain Capital, 11North Partners Acquire Five Shopping Centers for $300M

AI generated summary, Read the full article for complete information.

Bain Capital and 11North Partners announced a $300 million joint‑venture acquisition of five open‑air shopping centers totaling about 757,000 sq ft in California, Virginia, Florida and Texas. The properties – the Beacon in Carlsbad, CA; Barcroft Plaza in Falls Church, VA; West Town Corners in Altamonte Springs, FL; and University Commons in Sugar Land, TX (near Houston) – were bought from Vista Private Equity (University Commons) and undisclosed sellers. Bain’s managing director Martha Kelley said the assets fit their strategy of building institutional‑quality, necessity‑ and lifestyle‑anchored centres, while 11North’s Brian Harper highlighted the strong risk‑adjusted fundamentals of grocery‑anchored, open‑air retail amid a broader retail recovery, noting a 6.4 % rise in foot traffic earlier this year.

#BainCapital #11NorthPartners #MarthaKelley #BrianHarper #CushmanWakefield

Bain Capital, 11North Partners Acquire Five Shopping Centers for $300M

Bain Capital and 11North Partners have come together to acquire five open-air malls across four states for a total of $300 million.

Commercial Observer