Kayne Anderson Snags Sentio Investments for $825M

Under the terms of the agreement, the company will acquire the outstanding shares in an all-cash transaction. The assets, located across 16 states, include senior housing communities as well as medical office buildings.
Caruth Haven Court

Caruth Haven Court

Kayne Anderson Real Estate Advisors, the real estate private equity arm of Kayne Anderson Capital Advisors inked a deal to acquire Sentio Healthcare Properties Inc. Under the terms of the agreement, Kayne Anderson will acquire the outstanding shares of Sentio in an all-cash transaction based on an estimated total asset value of $825 million.

Sentio is a public, non-listed REIT, externally advised by Sentio Investments, with a portfolio of 34 properties. Its holdings in 16 states include senior housing communities as well as medical office buildings.

Caruth Haven Court is an example of a senior housing, private pay property owned by Sentio. The 91-unit assisted living facility in Highland Park, Texas, a northern suburb of Dallas. The three-story building is on 2.2 acres in a densely populated infill location.

The Caruth Haven Court property includes 49 studio units, 40 one-bedroom units and two combined units that supply varying degrees of care based on resident needs. The property is less than two miles from Presbyterian Hospital of Dallas, an 866-bed facility.

“The addition of the Sentio assets further solidifies [our] position as one of the largest owners of healthcare real estate, with a strong composition of assets,” said David Selznick, chief investment officer of Kayne Anderson. “This acquisition represents a compelling opportunity to create value through property renovations, facility expansions and other operational enhancements.”