Kayne Anderson & Remedy Secure $129.1MM for Multi State Outpatient Portfolio Acquisition

Kayne Anderson Real Estate in joint venture with Remedy Medical Properties – together the nation’s largest owner and operator of medical outpatient real estate – sought acquisition financing to support the purchase of a diversified portfolio of medical outpatient properties.  The sponsors requested a fully underwritten capital solution from experienced healthcare lenders who could execute on market‑competitive terms and support a multi‑state acquisition.

Webster Healthcare partnered with Bank of Montreal as Joint Lead Arranger to co‑underwrite senior debt financing for the acquisition of an 11‑property medical outpatient portfolio totaling 576,000 square feet. The portfolio is 87% leased and geographically diversified across Minnesota, Colorado, Illinois, Wisconsin, Kentucky, and Maryland. The financing package included $110MM of senior mortgage acquisition financing as well as a $19.1MM future advance holdback for tenant improvements, leasing commissions, and capital expenditures. Webster committed $49.5MM to the transaction alongside syndicate partners, delivering certainty of execution and a scalable capital solution aligned with the sponsors’ long‑term medical office strategy.

“As Joint Lead Arranger, Webster Bank stepped up with a significant underwriting commitment to facilitate a seamless execution of the debt financing including flexibility to close and fund in stages for future acquisitions and tenant improvements to support execution of our value-add strategy for the medical outpatient portfolio,” said Jim Coffey, Managing Director, Capital Markets at Kayne Anderson.

“This financing was structured around a portfolio of quality assets that we acquired in multiple transactions over a short period of time,” said Joe Magliochetti, Chief Investment Officer, Remedy Medical Properties. “Webster was a great partner throughout the process, providing a flexible approach that supports our business plan for these investments.”