Bain Capital and 11North’s joint venture has become a powerhouse — spreading consistently across the southeast. Their platform was made with the ambition to invest in grocery-anchored, open-air retail centers primarily across Florida and South Carolina, now they’ve made upwards of $1.6 billion. The centers are Publix-anchored with surrounding businesses such as Bank of America, Chipotle, Starbucks, Chick-fil-A, Jersey Mike’s, and McDonald’s.
Who is behind this platform?
Bain Capital’s Real Estate Division was founded in 2018 as a way to tap into the market of hard to access business sectors, with eyes on long-term demand growth. Now Ryan Cotton’s Real Estate Division has made roughly $203 billion in assets. .
11North was founded in 2024 by Brain Harper over Kimco Realty’s acquisition of RPT Realty. Bain Capital has an ownership stake over 11North with current staff members being formerly of RPT.
The platform’s growth since its launch
The platform was launched in April of last year, with a goal to acquire and operate various grocery-anchored retail centers across the U.S. and Canada.
“This Platform is a testament to Bain Capital’s more than 40-year heritage of thematic investing in the consumer sector…” Ryan Cotton told Businesswire, “It also reflects how we invest across Bain Capital Real Estate – thematically, with advantage, and with discipline in partnership with aligned operators who bring deep domain expertise…”
Now, in December of this year, the platform has reached the $1.6 Billion mark. The platform has accumulated ten centers across Florida in areas such as Fort Lauderdale, Orlando, Tampa, and Palm Beach with other properties in South Carolina and Oklahoma City.
