Kayne Anderson Real Estate Advisors Exceeds Target with Fund Close of $750MM

ARMONK, N.Y., June 4, 2013 /PRNewswire/ -- Kayne Anderson Real Estate Advisors ("KAREA"), which invests in specialized real estate sectors, today announced that it has closed its third fund, Kayne Anderson Real Estate Partners III (KAREP III) at $750 million. The fund was significantly oversubscribed, exceeding its initial target of $700 million, and closed at its $750 million hard cap within five months of its launch.  The funds investor base includes a diverse mix of institutional investors, foundations, family offices and high-net worth individuals.  KAREA is the private equity real estate arm of Kayne Anderson Capital Advisors, an asset management firm with approximately $21 billion of assets under management as 4/30/13.

"We're very grateful for the strong support we've received from our investors and our partners at Kayne Anderson Capital Advisors," said Al Rabil, Managing Partner and CEO of Kayne Anderson Real Estate Advisors.  "The strong response to our fund and our ability to raise it so quickly underscores investors' confidence in our team and strategy to continue to produce best in class returns."

As a whole, KAREA's current portfolio includes approximately 16,000 student housing beds (5,400 units), 444 conventional multifamily units and 15,065 self-storage units.  Throughout the last year, KAREA sold 23 of its assets, 20 of which were included in the largest private sale of a student housing portfolio in history for $862.8 MM.

About Kayne Anderson Real Estate Advisors

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 4/30/13) 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

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