Capital One has launched a new unitranche loan program focused on the commercial and healthcare real estate industries. Kayne Anderson Real Estate is serving as a strategic co-investor.
New York (Oct. 30, 2018) – Capital One announced today that it has established a new unitranche loan program, focused on the commercial and healthcare real estate industries, with Kayne Anderson Real Estate as strategic co-investor. The program, through Structured Real Estate Capital, LLC, will provide real estate borrowers with first lien unitranche loans. Capital One launched its first unitranche product in late 2016 and has since closed more than $1.8 billion in commitments within its cash flow leveraged finance platform.
“This product will allow our clients to quickly close financings with added simplicity and reliability” said Earl Smith, Head of Strategic Investments Group, Capital One Commercial Banking. “We are excited to partner with Kayne Anderson to add this real estate-focused unitranche loan program to our offerings.”
“We are thrilled to partner with Capital One in this program, which will enable clients to quickly and efficiently borrow capital in the increasingly complicated financing world,” said David Selznick, Chief Investment Officer of Kayne Anderson Real Estate. “Our deep knowledge of and experience in seniors housing, medical office, and student/multifamily housing will provide execution certainty and efficiency for unitranche loan customers.”
A unitranche loan blends senior and junior debt pricing and terms into a single first lien debt facility rather than creating two classes of debt and coordinating among multiple lenders. This approach increases certainty of execution, and borrowers typically benefit from a single lending entity and blended interest rate.
Capital One is a leading provider of financial services to the commercial and healthcare real estate industries. Customers across sectors including medical office, seniors housing, multifamily and student housing rely on Capital One to finance acquisitions, refinance existing debt, provide bridge to agency platforms and fund growth initiatives. With in-depth expertise, our team of professionals create solutions tailored to meet the needs of our customers.
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.
About Kayne Anderson Real Estate
Kayne Anderson Real Estate (KA Real Estate) is a leading real estate private equity investor in seniors housing, medical office, off-campus student housing and self-storage. KA Real Estate has raised dedicated real estate private equity funds totaling approximately $7 billion in commitments, investing in opportunistic equity, core returns and real estate debt. KA Real Estate is part of Kayne Anderson Capital Advisors, L.P., a $30 billion alternative investment management firm (AUM as of 8/31/18) with more than 30 years of successful experience in the energy, infrastructure, growth capital, real estate, middle market credit. For more information, visit http://www.kaynecapital.com/strategies/real-estate-private-equity.