MCLEAN, VA. — Virginia-based Capital One has provided $329.6 million in loans for the refinancing of two medical office portfolios totaling 56 properties in various markets around the country. The borrower in both deals was a joint venture between Kayne Anderson Real Estate and MB Real Estate Healthcare.
In the first transaction, Capital One provided a $107 million adjustable-rate loan for the refinancing of a medical office portfolio comprising 20 properties totaling 789,000 square feet. The portfolio consists of eight on-campus facilities, 11 off-campus facilities, and one adjacent to a hospital campus.
In the second transaction, Capital One provided a $222.6 million adjustable-rate loan for the refinancing of a 36-property medical office portfolio. Specific property types and names within this portfolio were not disclosed.
Since 2012, Capital One has executed more than 40 transactions for the Kayne Anderson/MBRE Healthcare joint venture.
“This deal is an extension of a long line of transactions we’ve closed for Kayne Anderson and MBRE Healthcare,” says 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.”
Kayne Anderson Real Estate invests in seniors housing, student housing and medical office properties, with a medical office portfolio totaling 11.4 million square feet in 36 states. The company is a subsidiary of Los Angeles-based alternative investment firm Kayne Anderson Capital Advisors.
MB Real Estate Healthcare is a Chicago-based company that acquires, develops, leases and manages healthcare real estate across the United States. The company’s portfolio totals more than 11 million square feet.
— Taylor Williams