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KAREA Completes Sentio REIT Takeover

“This transaction brings 33 high quality assets to our seniors housing and medical office portfolios,” says David Selznick, CIO of Kayne Anderson Real Estate Advisors.

By Paul Bubny | paulbubny | Updated on September 21, 2017

Exterior of seniors housing facility The Parkway in Blue Springs, MO, near Kansas City, is one of 30 seniors housing communities in the Sentio REIT portfolio.

BOCA RATON, FL—Kayne Anderson Real Estate Advisors said Thursday it had completed its acquisition of Sentio Healthcare Properties. KAREA said in May that it would pay $825 million in cash for the KKR-backed, non-listed REIT.

“This transaction brings 33 high quality assets to our seniors housing and medical office portfolios,” says David Selznick, KAREA’s CIO. He cites property renovations, facility expansions and other operational enhancements as ways of creating additional value. “We believe the addition of SHP’s best-in-class assets further solidifies KAREA’s position as an industry leader in the healthcare real estate space and that this transaction positions us to continue to generate strong returns for our investors.”

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