Capital One Secures $551M for Sentio REIT Buyout

The company provided two loans, a $251 million bridge loan and a $300 million Freddie Mac senior housing revolving credit facility.
Kristen Ahrens

Kristen Ahrens

After announcing plans to purchase Sentio Healthcare Properties for an all-cash price of $825 million, Kayne Anderson Real Estate Advisors had Capital One secured a balance sheet and agency loans for the acquisition. Capital One Healthcare provided two loans, a $251 million bridge loan and a $300 million Freddie Mac senior housing revolving credit facility. 

Representing more than $2.6 billion in transaction value, these acquisitions made KAREA, at the time of the Sentio purchase, the 27th largest owner of senior housing in the U.S. The real estate private equity arm of Kayne Anderson Capital Advisors, KAREA has invested in 73 private-pay, senior living communities totaling 10,000, since September 2013. The firm has $30 billion in assets under management focused on seniors housing, medical office, student housing and self-storage.

“This large, complex transaction allowed our team to draw on our expertise and broad product offerings in providing debt capital to the healthcare industry,” Kristen Ahrens, managing director, Capital One Healthcare, told Multi-Housing News. “The portfolio of properties included in this acquisition is truly best-in-class, and we were pleased to provide a powerful combination of financial solutions that will help Kayne continue to build their position as an industry leader in healthcare real estate.”

Image courtesy of Capital One