Kayne Anderson Real Estate Advisors Acquires Prime Student Housing Assets Near St. Louis University

May 31, 2013

ARMONK, N.Y., May 31, 2013  -- Kayne Anderson Real Estate Advisors ("KAREA"), the private equity real estate arm of Kayne Anderson Capital Advisors, today announced the addition of four assets, a 655 bed, 406 unit group of properties comprised of three adjacent apartment buildings and a 746-space parking garage in St. Louis, Missouri.   The properties are ideally located directly across the street from the main gate of St. Louis University (SLU), within short walking distance of academic buildings, dorms and the Busch Student Center.

"The Assets are a great addition and complement to Kayne Anderson's robust portfolio of high-tier student housing properties.  The quality and added value we're able to offer students and ultimately their parents make this a compelling investment," said Al Rabil, Managing Partner and CEO of KAREA. "We're excited to expand our footprint to this nationally recognized growing university."

The properties, which include turn-of-the-century architecture, features The Coronado (originally a hotel), Moolah Place (originally a Masonic temple), Lindell Towers, and a parking structure known as Moolah Garage.  The assets are unique in their ability to bring a touch of "old-world" elegance to urban living.  In addition to convenient parking, world-class amenities include a study lounge, pool and sundeck, fitness room, game room, and in-unit washer/dryers. There is also a bowling alley and movie theater located on site.

These assets bring KAREA's student housing portfolio to approximately 16,000 beds and 5,400 units. KAREA's portfolio also contains 444 conventional multifamily units and 15,065 self-storage units.

Kayne Anderson Real Estate Advisors (KAREA) is a private equity firm that invests primarily in off-campus student housing. KAREA is one of the five largest owners of student housing in the country and is actively seeking student housing real estate assets of 500 or more beds in close proximity to large public universities with strong student enrollment growth.  KAREA has raised three dedicated real estate private equity funds totaling more than $1.4 billion in commitments.  KAREA is part of Kayne Anderson Capital Advisors, L.P., a $21 billion alternative investment management firm (AUM as of 4/31/13) with nearly 30 years of successful experience in the energy, infrastructure, growth capital, real estate and middle market credit sectors.  For more information, visit http://www.kaynecapital.com/strategies/real-estate-private-equity.

SOURCE Kayne Anderson Real Estate Advisors