Kayne Anderson closes acquisition of healthcare REIT
Kayne Anderson Real Estate Advisors, the real estate private equity arm of Kayne Anderson Capital Advisors, has completed the previously reported merger agreement under which affiliates of KAREA will acquire Sentio Healthcare Properties by way of merger.
KAREA will acquire all of the outstanding shares of Sentio in an all-cash transaction based on an estimated total asset value of $825 million.
Sentio Healthcare Properties is a public, nonlisted REIT that invested entirely in health-care real estate. Its portfolio includes 34 properties in 16 states, mostly on the East Coast, in the Midwest, in Texas and the Southeast, that focus primarily on the private-pay senior housing sector, nursing facilities, medical office buildings and specialty medical properties.
Other parties involved in the transaction include Kohlberg Kravis Roberts & Co. and Sentio Healthcare Pr