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Kayne Anderson Raises $1.85B for MOBs, Senior Housing
Boca Raton, FL-based Kayne Anderson Real Estate closed a $1.85 billion real estate fund that will primarily seek to acquire senior housing and medical office buildings, along with student housing. Kayne Anderson Real Estate Partners V is the private-equity firm’s fifth and largest fund.
Kayne Anderson raised funds from global investors, including pension funds, family offices and endowments.
What makes this fund’s strategy intriguing is the fact that it is pursuing assets in what’s previously been a nontraditional sector for CRE investing. The emergence of the Baby Boomer population is expected to drive demand for both senior housing, encompassing independent and assisted-living programs, as well as medical office buildings.
Since these properties are expected to prove more resistant to boom-and-bust cycles, they have investor appeal as a hedge against a potential downturn in the current nine-year growth cycle.
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