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Bain Capital Founder Sells Ritz Pad For $5.2M

By Colleen M. Sullivan | Banker & Tradesman Staff | May 23, 2013 | Reprints | Print

Bain Capital founder William Bain Jr. has sold a Ritz-Carlton Residences apartment for $5.2 million The founder of Boston-based private-equity firm Bain Capital has sold an apartment at the Ritz-Carlton Residences for $5.2 million.

William Bain Jr., a native of Tennessee, founded his own consulting firm, Bain & Co., in 1973 after leaving the Boston Consulting Group. In 1984, he spun off a private equity firm, Bain Capital, appointing as its CEO then-Bain & Co. partner Mitt Romney, the 2012 presidential candidate and former Massachusetts governor.

The sprawling 4,200-square-foot pad was the result of combining two adjacent units. The property included three valet parking spaces. The $5.2 million final sales price is slightly below the asking price of $5.5 million. Bain purchased the property in 2001 for $4.6 million, according to data provided by The Warren Group, publisher of Banker & Tradesman.

The listing agent was Kathleen E. Cook of Boston-based Atlantic Assoc. Real Estate.

Residential Real Estate