The two firms will focus on acquiring value-add properties in primary and secondary markets across the country. : Bain Capital Real Estate and Magnolia Capital have formed a new joint venture to spend more than $900 million on multifamily acquisitions across the U.S. over the next several years. The two companies will look to buy, renovate and operate communities in primary and secondary markets in a value-add strategy. The partnership plans to focus first on acquiring garden-style, middle-income apartment communities built between 1975 and 2000 in strong Sunbelt markets, the firms said in their announcement.