B
ain Capital Real Estate and 11North Partners have jointly acquired a portfolio of three open-air lifestyle retail centers in Oklahoma City for approximately $212 million. The properties, located in the upscale Nichols Hills submarket, span nearly 40 acres and boast occupancy rates exceeding 97%. Anchored by national retailers like Whole Foods and Trader Joe's, as well as over 50 unique-to-market brands, the portfolio is a dominant lifestyle destination in the region.

    The acquisition was made through a strategic joint venture formed between Bain Capital Real Estate and 11North Partners, led by industry veteran Brian Harper. The venture focuses on acquiring and enhancing open-air retail centers across the U.S. and Canada that prioritize convenience, community, and necessity-based retail.

    "These properties are not just well-leased – they're dominant lifestyle destinations in the region," said Brian Harper, Managing Partner at 11North. "Our platform's deep retail expertise allows us to identify and elevate assets like these."

    Strategically positioned near Integris Baptist Medical Center and Chesapeake Energy's headquarters, the centers benefit from high traffic and superior local demographics. The area is one of Oklahoma's most affluent, driving strong retail sales and consistent tenant demand.

    "This acquisition aligns perfectly with our investment strategy," added Martha Kelley, Managing Director at Bain Capital Real Estate. "We're focused on high-quality, well-located retail properties that are essential to daily life."

    The transaction highlights growing investor confidence in open-air retail centers, which have demonstrated strong performance post-pandemic in markets with stable population growth and solid economic fundamentals.