Kayne Anderson Snags Sentio Investments for $825M
- May 09, 2017
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.”