 |
| Al Rabil |
The
portfolio consists of 106 floating-rate mortgages secured by 308 best-in-class medical
office (“MOB”) properties. The properties are sponsored by a number of
blue-chip institutional MOB investors.
With approximately 35% of the properties
anchored by hospital systems, the portfolio totals just under 13 million net
rentable square feet and is 92.3% leased on a long-term basis with a weighted
average remaining lease term of nine years.
“As we disclosed during our second quarter
earnings call, we believe exiting this line of business will be meaningful for
the bank as the capital and liquidity from the sale will allow us to pay down
higher-cost wholesale funding in the near term and improve our net interest
margin and wholesale funding ratio,” said Jamie Gregory, Chief Financial
Officer, Synovus. “In addition, by reducing risk-weighted assets, we expect to
accelerate our path to targeted capital levels.”
 |
| David Selznick, |
“As one of the leading investors in
medical office properties both as an owner and lender, our deep experience and
tenured team in the sector equipped us to thoroughly evaluate this opportunity
and move with speed and certainty to close,” said Al Rabil, Chief
Executive Officer, Kayne Anderson Capital Advisors and co-founder and CEO,
Kayne Anderson Real Estate.
“We crafted a creative capital solution to
purchase this attractive medical office portfolio from Synovus and expand our
real estate debt platform,” added David Selznick, Chief Investment
Officer at Kayne Anderson Real Estate.
“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 Will Sledge, Co-Head of JLL’s Loan Sales team.
 |
| Will Sledge |
“Synovus’
portfolio sale and continued working relationship with Kayne Anderson
highlights the success that can be achieved by an integrated M&A and
product specialist team with expertise advising public and private companies
evaluating highly-strategic decisions,” added Ted Flagg, Senior Managing
Director in JLL’s M&A and Corporate Advisory team.
The JLL Capital Markets advisory 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.
About Kayne Anderson Real Estate
Kayne Anderson Real
Estate is a leading real estate investment firm, managing over $14 billion in
assets under management across opportunistic equity, core equity, and real
estate debt, with sector expertise in medical office, seniors housing,
off-campus student housing, multifamily housing, and self-storage.
 |
| Kyle Kaminski |
Kayne
Anderson Real Estate is part of Kayne Anderson Capital Advisors, L.P., a $32
billion alternative investment management firm with more than 39 years of
successful experience in the real estate, renewable and energy infrastructure,
energy, credit, and growth capital sectors.
For
more information, visit https://kaynecapital.com/real-estate/.
About
Synovus
Synovus
Bank, a Georgia-chartered, FDIC-insured bank, provides commercial and consumer
banking in addition to a full suite of specialized products and services,
including private banking, treasury management, wealth management, mortgage
services, premium finance, asset-based lending, structured lending, capital
markets and international banking.
 |
| Ted Flagg |
Synovus has branches in Georgia, Alabama,
South Carolina, Florida and Tennessee.
Synovus is a Great Place to
Work-Certified Company and is on the web at synovus.com and on Twitter,
Facebook, LinkedIn and Instagram.
About JLL
For over 200 years, JLL
(NYSE: JLL), a leading global commercial real estate and investment management
company, has helped clients buy, build, occupy, manage and invest in a variety
of commercial, industrial, hotel, residential and retail properties. 
