A Trophy Grab Outside Gateway Markets
Though Oklahoma City lies outside the typical coastal investment hubs, the acquired assets are considered regional flagships in terms of both quality and location. That geographic pivot aligns with Bain’s value-added strategy, targeting underpenetrated markets with long-term growth potential.
Since separating from Harvard Management Company in 2018, Bain Capital Real Estate has invested over $9 billion in sectors spanning logistics, healthcare-adjacent retail, and life sciences—a diversified approach reflective of secular demand.
11North CEO Brian Harper, formerly of RPT Realty, praised the acquisition as a marquee win for the platform.
“These are three trophy assets, and this deal underscores our sourcing edge and deep industry relationships,” Harper said. “We’re poised to scale a best-in-class retail portfolio.”
Outlook: Inflation and Fed Policy Loom
The acquisition arrives as the Federal Reserve continues to hold off on interest rate cuts amid persistent inflation and uncertainty over Trump-era tariffs. In congressional testimony this week, Fed Chair Jerome Powell reaffirmed a cautious stance, noting inflation remains above the 2% target.
For investors like Bain and 11North, this creates a window of opportunity—capitalizing on strong-performing retail real estate while many peers remain hesitant.
While the companies did not disclose whether they plan to hold, rotate, or redevelop the properties, the investment cements their position in the evolving retail landscape—where groceries, experiences, and community remain king.
