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South Florida

Real estate private equity co. leaves NYC for Boca

Al Rabil
Al Rabil

Private equity group Kayne Anderson Real Estate Advisors will up its stakes from New York and move to Boca Raton, the South Florida Business Journal reported, citing a Business Development Board of Palm Beach County announcement.

KAREA is a unit of $21 billion hedge fund giant Kanye Anderson that controls about 16,000 student housing beds, 700 apartments, 15,000 self-storage units and 250,000 square feet of medical office space.

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“Palm Beach County has been on our radar for years, so we’re excited to finally make this move,” Kayne Anderson managing partner Al Rabil was quoted as saying in a company release.

The firm will move into a 12,750-square-foot lease at One Town Center, where 20 employees will be relocated from New York, the Journal said. [South Florida Business Journal] –Emily Schmall

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Boca RatonPrivate Equity