Sentio Healthcare Properties Inc. is a real estate investment trust focused on healthcare-related real estate, such as Spring Village of Wildewood in California, Md., which it acquired in 2014. (Photo courtesy of Sentio)
Bethesda, Md. (September 13, 2017) – Capital One announced today that is has provided two loans—a $251 million bridge loan and a $300 million Freddie Mac seniors housing revolving credit facility—to Kayne Anderson Real Estate Advisors (KAREA), enabling it to purchase Sentio Healthcare Properties, a public, nontraded REIT.
“Capital One Healthcare’s deep industry expertise, access to multiple lending products, and ability to execute on large, complex transactions was a powerful combination in completing this deal,” said Kristen Ahrens, Managing Director, Capital One Healthcare. “We were able to deliver a one-stop-shop financing solution for a very complicated acquisition on a transaction that moves the needle for Kayne as an investor in the seniors housing space.”
KAREA is part of Kayne Anderson Capital Advisors, a private equity, real estate investment firm with $30 billion in assets under management particularly focused on seniors housing, medical office, student housing and self-storage. Since September 2013, KAREA has invested in 73 private-pay, senior living communities in totaling 10,000. Representing more than $2.6 billion in transaction value, these acquisitions made KAREA, at the time of the Sentio purchase, the 27th largest owner of senior housing in the United States. In addition, they are the seventh largest owner of non-hospital affiliated medical office space in the U.S.
“Once again, the team at Capital One provided a flexible solution to meet our needs,” said Max Newland, Managing Director for Healthcare Real Estate at KAREA. “They have the sophistication to undertake deals of this complexity and the bandwidth to manage transactions of this scale.”
Capital One Healthcare is a leading provider of financial services to the industry. Customers across healthcare sectors—including senior housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices—rely on Capital One Healthcare to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. With in-depth expertise, our team of professionals creates solutions tailored to meet the needs of our customers.
Capital One Healthcare is a part of Capital One Commercial Banking, which leverages a relationship-based banking model that seamlessly delivers an array of products and services including loans and deposit accounts, treasury management services, merchant services, investment banking, international services and correspondent banking.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $239.8 billion in deposits and $350.6 billion in total assets as of June 30, 2017. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 100 index.
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