Bain Capital Real Estate and Magnolia Capital are teaming up to acquire and renovate multifamily assets. The joint venture will deploy $900 million on behalf of investors to purchase garden-style properties built between 1975 and 2000 with a middle-income renter profile, in what the companies deem well-located areas — i.e. suburban areas outside of Gateway cities. It will then pour money into fixing up those properties. Middle-income tenants were largely buffered from the employment losses The post Bain, Magnolia target fixer-uppers with $900M joint venture appeared first on The Real Deal New York.