NEW YORK – (Realty News Report) – A joint venture of Bain Capital and 11North Partners has acquired five open-air retail centers, including a property in Sugar Land, for $300 million.
Located in Texas, California, Virginia, and Florida, the centers meet the joint venture’s objective of investing in high-quality open-air centers throughout the U.S. and Canada.
The deal represents the JV’s entry to Texas with the acquisition of University Commons, a center along University Boulevard north of Highway 59 in Sugar Land. The property, located 22 miles southwest of downtown Houston in the Telfair community, was developed in phases by Houston-based Vista Companies. Tenants include Trader Joe’s, Ulta Beauty, 85C Bakery Café, Burlington, Michaels, and Haraz Coffee House. The center is near the University of Houston’s Sugar Land campus…