Bain Capital and 11North Partners have raised $1.6 billion to invest in grocery-anchored open-air retail centers across the U.S. and Canada.

Information on the Target

Bain Capital Real Estate and 11North Partners have successfully completed a capital raise of up to $1.6 billion dedicated to their joint open-air retail-focused operating platform, established in April 2024. This platform aims to invest in high-quality, grocery-anchored open-air retail centers across the United States and Canada, focusing on properties that cater to necessity-based tenants, ensuring strong long-term consumer demand.

Since its inception, the platform has amassed a diversified portfolio of retail assets that exhibit resilient cash flow characteristics, particularly in markets characterized by robust population and income growth. The partnership reflects a commitment to both core plus and value-add investment strategies, allowing them to adapt effectively to the evolving retail landscape.

Industry Overview in the Target's Specific Country

The retail sector in the United States continues to evolve in response to trends in consumer behavior and shopping patterns. Open-air retail centers have gained popularity as they provide a convenient shopping experience whil