Kayne Anderson Buys 34-Property Medical Office, Seniors Housing Portfolio from Welltower

BOCA RATON, Fla. and TOLEDO, Ohio — Kayne Anderson Real Estate has acquired 27 medical office buildings and seven seniors housing communities from giant REIT Welltower (NYSE: WELL).

The medical office buildings are spread throughout the country, while the seniors housing communities are all located in Florida. MB Real Estate and Discovery Senior Living operate the portfolio.

The price and details on the locations were not disclosed.

“This portfolio is a very compelling addition to our platform — institutional-quality medical office buildings with long-duration leases and seniors housing assets with strong current cash flow and near-term value enhancements through significant capital improvements,” says David Selznick, chief investment officer of KA Real Estate.

Chad Lavender and Ryan Maconachy of Newmark Knight Frank acted as advisors for Welltower on the transaction. Additionally, Wells Fargo Bank financed the seniors housing assets through its Freddie Mac business, and Capital One Bank NA led the financing syndicate for medical office assets.