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Kayne Anderson Closes $575M Fund

NEW YORK CITY-The private equity firm exceeded its initial target of $350 million and has invested in nine student-housing properties and 18 self-storage buildings nationwide, GlobeSt.com has learned exclusively.

By Jacqueline Hlavenka | Updated on October 18, 2011

NEW YORK CITY-As the student housing sector continues to heat up, Armonk, NY-based private equity firm Kayne Anderson Real Estate Advisors has made the grade. In under one year, the firm has closed on its second fund, Kayne Anderson Real Estate Partners II, at $575 million, exceeding its initial target of $350 million, GlobeSt.com has learned exclusively.

The fund is comprised of nine portfolio investments that account for approximately $130 million of equity. It includes the 161-unit, 392-bed West 27th Place student housing complex at the University of Southern California; the 683-bed Lodges of East Lansing at Michigan State and the Cottages of College Station at Texas A&M; the 740-bed 5 Twenty Four Angliana at the University of Kentucky; the 1290-bed Cottages at Baton Rouge at Louisiana State University; and the 803-bed Lofts at Kennesaw at Kennesaw State.

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