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Kayne Anderson Real Estate Advisors to acquire healthcare REIT

by Andrea Waitrovich

Kayne Anderson Real Estate Advisors has announced a definitive merger agreement under which affiliates of KAREA will acquire Sentio Healthcare Properties by way of merger. Under the terms of the agreement, which was unanimously approved by the board of directors of Sentio, 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 is a public, nonlisted REIT, externally advised by Sentio Investments, with a portfolio of 34 properties including senior housing communities and medical office buildings in 16 states across the United States.

The transaction is currently expected to close in the third quarter of 2017.

Kayne Anderson Real Estate Advisors is the real estate private equity arm of Kayne Anderson Capital Advisors.

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