News Release: Capital One provides two loans totaling $329.6 million to refinance two medical office building portfolios

FOR IMMEDIATE RELEASE

Capital One Provides $107 Million Loan to Refinance Medical Office Building Portfolio

Chicago, Ill. (November 26, 2018)Capital One announced today that it provided a $107 million adjustable rate loan to refinance a 20-asset medical office building portfolio totaling 789,000 square feet. The borrower is a joint venture owned by Kayne Anderson Real Estate and MB Real Estate (MBRE) Healthcare.

The loan consists of $92 million in initial funding and a holdback for tenant improvements/leasing commissions. The portfolio consists of eight on-campus facilities, 11 off-campus facilities, and one adjacent to a hospital campus.

“This deal is an extension of a long line of transactions we’ve closed for Kayne Anderson and MBRE Healthcare,” said Erik Tellefson, Managing Director of Capital One Healthcare Real Estate. “Our relationship and understanding of their goals were critical in developing a financing solution that aligns with the strategic plans for the portfolio.” Since 2012, Capital One has executed more than 40 transactions for the Kayne Anderson/MBRE Healthcare joint venture.

Kayne Anderson Real Estate is a leading real estate private equity investor with dedicated opportunistic equity, core equity and debt funds totaling approximately $7 billion in commitments. Kayne Anderson’s strategic joint venture with MBRE is one of the largest owners of medical office buildings in the United States. MBRE Healthcare, which owns and/or manages more than 14 million square feet of medical office space, will manage the portfolio.

“We are pleased to be working with Capital One on another successful execution in the healthcare space,” said S. David Selznick, Kayne Anderson Real Estate’s Chief Investment Officer. “Given our long standing relationship with the Capital One team, we continue to work collaboratively to structure the financing to address key business objectives for us and our investors.”

Peter Westmeyer, President and Managing Principal at MB Real Estate agreed. “We work with Capital One because we have come to expect them to effectively and efficiently close the transaction.”

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. Additional information can be found at capital.one/healthcare.

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 $247.2 billion in deposits and $362.9 billion in total assets as of September 30, 2018. 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.

 

FOR IMMEDIATE RELEASE

Capital One Provides $222.6 Million Loan to Refinance Medical Office Building Portfolio

Chicago, Ill. (November 26, 2018)Capital One announced today that it provided a $222.6 million adjustable rate loan to refinance a 36-asset medical office building portfolio. The borrower is a joint venture owned by Kayne Anderson Real Estate and MB Real Estate (MBRE) Healthcare.

“Over the last six years we have been privileged to partner with Kayne Anderson and MBRE Healthcare on a series of transactions,” said Erik Tellefson, Managing Director of Capital One Healthcare Real Estate. “This extended relationship positions us to deliver financing solutions that address their evolving needs.” Since 2012, Capital One has executed more than 40 transactions for the Kayne Anderson/MBRE Healthcare joint venture.

Kayne Anderson Real Estate is a leading real estate private equity investor with dedicated opportunistic equity, core equity and debt funds totaling approximately $7 billion in commitments. Kayne Anderson’s strategic joint venture with MBRE is one of the largest owners of medical office buildings in the United States. MBRE Healthcare, which owns and/or manages more than 14 million square feet of medical office space, will manage the portfolio.

“Capital One’s Healthcare Real Estate team has extensive knowledge and experience in the healthcare sector that enables them to tailor financing structures for the respective business plan on a specific investment – this financing was another excellent example,” said S. David Selznick, Kayne Anderson Real Estate’s Chief Investment Officer.

“Capital One’s ability to fund the deal from their own balance sheet is extraordinarily important to us,” said Peter Westmeyer, President and Managing Principal at MB Real Estate. “It provides certainty of execution that is indispensable.”

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. Additional information can be found at capital.one/healthcare.

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 $247.2 billion in deposits and $362.9 billion in total assets as of September 30, 2018. 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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