Overview

• The joint venture between Bain Capital Real Estate and 11North Partners acquired 10 open-air shopping centers anchored by Publix for $395 million.
• The centers span Fort Lauderdale, Orlando, Tampa and Palm Beach submarkets in Florida plus a location in Charleston, South Carolina.
• Combined, they cover more than one million square feet and maintain approximately 93 percent occupancy with national tenants including Bank of America, Chipotle and Chick-fil-A.
• JLL brokered the deal and will take over management of the properties from Southeast Centers in the coming weeks.
• The purchase builds on the JV’s June acquisition of three Oklahoma City centers and reflects growing investor demand for grocery-anchored retail in rapidly growing Southeastern markets.