Kayne Anderson Real Estate and Synovus Bank have closed on the $1.3-billion sale of Synovus’s medical office loan portfolio to Kayne Anderson Real Estate Debt. The loan portfolio includes 106 floating rate mortgages secured by 308 medical office building properties.
JLL Capital Markets advised Synovus in the sale. The team included Will Sledge and Kyle Kaminski from JLL’s Loan Sale Advisory team in tandem with Ted Flagg and Dan Freese from JLL Securities’ M&A and Corporate Advisory Team.
“This transaction proves, to the client’s credit, that liquidity not only remains for secondary loan sale offerings but is especially prevalent for high quality portfolios,” said Sledge.
The properties span 33 states across the U.S. and are sponsored by a number of blue-chip institutional MOB investors. With approximately 35% of the properties anchored by hospital systems, the portfolio – which totals just under 13 million net rentable square feet – is 92.3% leased on a long-term basis with a weighted average remaining lease term of nine years.
The post Kayne Anderson Acquires $1.3B MOB Loan Portfolio from Synovus appeared first on Connect CRE.
Kayne Anderson Real Estate and Synovus Bank have closed on the $1.3-billion sale of Synovus’s medical office loan portfolio to Kayne Anderson Real Estate Debt. The loan portfolio includes 106 floating rate mortgages secured by 308 medical office building properties. JLL Capital Markets advised Synovus in the sale. The team included Will Sledge and Kyle Kaminski from JLL’s Loan Sale …
The post Kayne Anderson Acquires $1.3B MOB Loan Portfolio from Synovus appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate