BOCA RATON and ORLANDO, Fla. — Kayne Anderson Real Estate Advisors has completed its acquisition of Sentio Healthcare Properties, which includes a portfolio of 33 seniors housing communities and medical office buildings in 16 states.
At the time of the merger agreement, the all-cash transaction was valued at $835 million. Sentio stockholders received $14.65 per share in cash and one contingent value right for each share of common stock of Sentio held.
“We are excited for the opportunity to create additional value through property renovations, facility expansions and other operational enhancements,” says David Selznick, chief investment officer of Kayne Anderson.
Sentio was a public, non-listed REIT that invested exclusively in healthcare-related real estate. Kayne Anderson is a real estate private equity investor, and is part of Kayne Anderson Capital Advisors, an alternative investment management firm.