11North Partners
11North Partners is a New York-based real estate investment firm founded in 2024 by former RPT Realty CEO Brian Harper that acquires and operates grocery-anchored, necessity-based open-air retail centers across the U.S. and Canada, primarily through a $2 billion co-owned investment platform with Bain Capital Real Estate.
- Company typePrivate
- Founded2024
- HeadquartersNew York, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What 11North Partners does
11North Partners is a New York-based real estate investment firm founded in 2024 by Brian Harper, former CEO of RPT Realty, focused on acquiring and operating grocery-anchored and necessity-based open-air retail properties across the United States and Canada. The firm pursues three investment vehicles: equity acquisitions across mixed-use, grocery, urban, unanchored, shadow-anchored, and power retail formats; debt investments structured as mezzanine or preferred equity; and direct investments in operating retail companies. Its flagship is a co-owned operating platform with Bain Capital Real Estate formed in April 2024, which has access to more than $2 billion in investable equity following a $1.6 billion capital raise anchored by two global institutional investors and participation from Bain Capital Real Estate Fund III. Through this platform, 11North has deployed nearly $1 billion across 18 assets spanning roughly 2 million square feet, with portfolio occupancy above 93% and anchor tenants including Walmart, Costco, Harris Teeter, Trader Joe's, Publix, Winn-Dixie, and Equinox.
The firm monetizes through two primary streams: recurring rental income from creditworthy necessity-based anchor tenants, and asset appreciation realized through repositioning, value-add improvements, and timing of dispositions. Underwriting is supported by a data-driven investment platform with portfolio-level analytics, originally developed at RPT Realty, that screens for high-income suburban submarkets (average household income near $132,000 within a three-mile radius) and asset classes with anchor sales productivity exceeding $900 per square foot. The go-to-market is institutional and relationship-driven, targeting global pension funds, family offices, and other institutional capital via direct investor outreach ([email protected]), industry associations (ULI, ICSC, YPO), and earned media in real estate trade publications.
Operationally, 11North is a lean organization of 1–10 employees led by founder Brian Harper and supported by Partner and Head of Investments Amy Sands, COO Ekta Patel (appointed February 2026), and a team largely drawn from RPT Realty's former investment and asset management ranks. Recent transactions include a $395 million 10-asset Publix-anchored portfolio in Florida and South Carolina (August 2025), a $212 million Oklahoma City lifestyle-center acquisition (June 2025), a $300 million five-center portfolio spanning California, Virginia, Florida, and Texas (May 2026), and the $58 million Barcroft Plaza acquisition in Falls Church, Virginia (June 2026), which marked the platform's first Mid-Atlantic entry.
11North Partners firmographics
Firmographics- Name
- 11North Partners
- Legal name
- 11North Partners
- Website
- https://11northpartners.com
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- 11North Partners is a New York-based real estate investment firm founded in 2024 by former RPT Realty CEO Brian Harper that acquires and operates grocery-anchored, necessity-based open-air retail centers across the U.S. and Canada, primarily through a $2 billion co-owned investment platform with Bain Capital Real Estate.
- Ownership category
- akta.pro rank
11North Partners industry classification
Industry- Product category
- Commercial Real Estate Investment
- NAICS
- All Other Financial Investment Activities (52399), Other Financial Investment Activities (5239)
- SIC
- Real Estate Dealers (For Their Own Account) (6532), Real Estate Investment Trusts (6798)
- akta.pro primary industry
- Value-Add & Opportunistic Real Estate (FSAAAKAB)
Keywords
Where 11North Partners is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
11North Partners business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Rental Income: Recurring rental income from tenants occupying retail properties in the portfolio, including anchor tenants like Harris Teeter, Trader Joe's, Walmart, Costco, and Equinox. Properties maintain occupancy above 93%.
- Asset Appreciation and Value Creation: Realized gains from strategic repositioning, value-add improvements, and optimal timing of property sales in the open-air retail segment. The firm targets assets in high-income suburban markets with strong fundamentals.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
11North Partners product offering
Product offeringCore offering
11North Partners is a real estate investment firm that invests equity and debt capital in retail properties across mixed use, grocery, urban, unanchored, shadow anchored, and power formats. Through a co-owned joint venture with Bain Capital Real Estate, the firm acquires and operates grocery-anchored and necessity-based open-air shopping centers throughout the United States and Canada. The platform deploys institutional capital into high-quality retail assets in affluent submarkets and manages leasing, asset management, and portfolio operations across its holdings.
Product overview
11North Partners is a real estate investment firm that operates three core investment products: Equity Investments (retail ownership across mixed use, grocery, urban, unanchored, shadow anchored, and power formats), Debt Investments (mezzanine and preferred equity structures), and Direct Operating Company Investment. The firm also participates in a joint venture platform with Bain Capital Real Estate focused on open-air retail center acquisitions across the U.S. and Canada, which has deployed nearly $1 billion across 18 assets since launching in April 2024. The investment strategy centers on grocery-anchored and necessity-based retail properties in affluent submarkets.
Differentiator
Problem solved
Functional benefit
Products and services
- Equity Investments Equity capital deployed into retail property ownership across mixed use, grocery, urban, unanchored, shadow anchored, and power retail formats, targeting institutional co-investors and the firm's own portfolio.
- Debt Investments Debt financing solutions structured as mezzanine or preferred equity positions in retail properties for sponsors and operators seeking non-senior capital.
- Direct Operating Company Investment Direct investments made into the equity of operating retail companies as part of 11North's broader investment strategy.
- Bain Capital-11North Open-Air Retail Platform Co-owned operating platform with Bain Capital Real Estate focused on acquiring and operating grocery-anchored and necessity-based open-air retail centers across the United States and Canada, with access to over $2 billion in investable equity.
Quantifiable outcome
- Portfolio occupancy exceeding 93%
- +3 more outcomes
Companies that use 11North Partners
Customer profileNamed customers7 records
Segments3 records
Ideal customer profiles1 record
11North Partners technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
11North Partners partnerships and signals
Strategic signalScale indicators16 records
Recent moves6 records
Expansion highlights5 records
11North Partners competitors and assessment
Company assessmentDirect peers
- RPT Realty (now part of Kimco): RPT Realty was the prior publicly-traded open-air retail REIT led by 11North founder Brian Harper before its January 2024 acquisition by Kimco Realty. The 11North team and operating playbook are direct successors to RPT's institutional open-air retail strategy.
- Regency Centers: Regency Centers is a leading grocery-anchored open-air shopping center REIT with a national portfolio of necessity-based retail — virtually identical investment strategy to 11North's. It represents the most direct public-market comparable for institutional capital deployment into grocery-anchored retail.
- Brixmor Property Group: Brixmor is a large publicly-traded open-air shopping center REIT with a portfolio of necessity-based and grocery-anchored centers across top U.S. markets. Its open-air retail strategy, value-add repositioning capability, and focus on necessity tenants make it a direct comparable to 11North's investment platform.
- Kite Realty Group: Kite Realty Group is a publicly-traded open-air shopping center REIT with a portfolio of grocery-anchored and mixed-use properties in growth markets. It is a comparable peer in open-air retail capital deployment and value-add repositioning.
- Slate Grocery REIT: Slate Grocery REIT is a publicly-traded REIT focused exclusively on U.S. grocery-anchored retail with a 15M+ square foot portfolio across 23 states. Its grocery-only mandate and recent strategic alternatives process make it a directly comparable peer and potential consolidation candidate in the same niche.
- Phillips Edison & Company: Phillips Edison is a publicly-traded REIT focused on necessity-based open-air shopping centers anchored by grocery operators — the closest public-market pure-play to 11North's strategy. Its scale, anchor relationships, and defensive positioning make it a strong head-to-head comparable.
- Federal Realty Investment Trust: Federal Realty is a high-quality open-air retail REIT focused on grocery-anchored and mixed-use shopping centers in affluent submarkets — a thesis closely aligned with 11North's grocery-anchored, $132K-HHI strategy. Federal Realty sold Barcroft Plaza to 11North in 2026, making it both a comparable and a direct counterparty.
Emerging players
- BRT Realty Trust: BRT Realty Trust is a smaller publicly-traded REIT focused on multi-tenanted necessity-based and grocery-anchored retail properties. Its portfolio overlap and similar anchor tenant profile make it a smaller-scale comparable peer to 11North's institutional platform.
- Wheeler Real Estate Investment Trust: Wheeler REIT is a smaller open-air shopping center REIT operating grocery-anchored and community retail centers across the Southeast. While smaller in scale, its open-air retail strategy and Southeast geographic overlap provide a niche comparable to 11North's portfolio focus.
Broad incumbents
- Kimco Realty: Kimco Realty is the largest publicly-traded open-air shopping center REIT in North America, with a national portfolio of grocery-anchored and necessity-based centers that directly overlaps 11North's investment universe. It acquired RPT Realty — 11North founder Brian Harper's former company — for ~$2 billion, establishing the strategic exit template that frames 11North's competitive landscape.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights6 records
Customer concentration
11North Partners social profiles
Digital presence11North Partners financial estimates
Financial estimateRevenue estimate
Valuation estimate
11North Partners leadership team
Management profileNumber of profiles
Profiles8 records
11North Partners funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
11North Partners M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about 11North Partners
What does 11North Partners do?
11North Partners is a real estate investment firm that invests equity and debt capital in retail properties across mixed use, grocery, urban, unanchored, shadow anchored, and power formats. Through a co-owned joint venture with Bain Capital Real Estate, the firm acquires and operates grocery-anchored and necessity-based open-air shopping centers throughout the United States and Canada. The platform deploys institutional capital into high-quality retail assets in affluent submarkets and manages leasing, asset management, and portfolio operations across its holdings.
Is 11North Partners a public or private company?
11North Partners is a private company. It is classified as venture growth investor backed and is currently operating.
When was 11North Partners founded?
11North Partners was founded in 2024. It employs 1 to 10 people.
Where is 11North Partners based?
11North Partners is headquartered in New York, United States, in the North America region.
How does 11North Partners make money?
Two revenue lines are on record. Rental Income is the primary driver. The others are asset Appreciation and Value Creation.
Who are 11North Partners's main competitors?
Direct peers on record are RPT Realty (now part of Kimco), Regency Centers, Brixmor Property Group, Kite Realty Group, Slate Grocery REIT, Phillips Edison & Company and Federal Realty Investment Trust. Emerging players are BRT Realty Trust and Wheeler Real Estate Investment Trust. Kimco Realty is listed as a broad incumbent.
Does 11North Partners have an API?
No public API is recorded for 11North Partners.
What industry is 11North Partners in?
11North Partners's product category is Commercial Real Estate Investment. Its primary akta.pro industry code is FSAAAKAB, Value-Add & Opportunistic Real Estate. Its NAICS code is 52399 and its SIC code is 6532.