Kayne Anderson buys new Palm Beach Gardens senior housing complex for $38M

Firm sold a senior housing community in Parkland for $79M late last year

TRD MIAMI /
Sep.September 22, 2016 03:00 PM

A senior housing developer and operator sold a newly completed community in Palm Beach Gardens to an affiliate of Kayne Anderson Capital Advisors.

Records show Discovery Senior Living, led by CEO Thomas J. Harrison, sold the 9.85-acre property at 100 Discovery Way. Kayne Anderson financed the deal with a $26.6 million mortgage from Texas Capital Bank.

Discovery Village at Palm Beach Gardens was completed earlier this year and includes 120 residences for independent living, assisted living and memory care. A press release from the project’s groundbreaking describes it as a $35 million project.

Discovery Village offers its residents meal service, scheduled transportation, health and wellness services, onsite medical and therapy services, housekeeping and social and recreational activities. The 130,000-square-foot development also has a clubhouse with dining rooms, social areas, a game room, indoor heated wellness pool, a salon and spa, media center and a hobby/craft center.

ACI of Largo designed the complex with Wegman Design Group. The Henning Group was the general contractor, according to a previous release.

Through another entity, Kayne Anderson sold a senior housing community in Parkland for $79 million late last year.

The investment firm, which has an office in Boca Raton, manages more than $23 billion in assets in private equity, managed accounts and closed-end funds for individual and institutional investors, according to its website.


Related Articles

arrow_forward_ios
The Palm Beach Gardens office towers

DiVosta family sells Palm Beach Gardens office towers for $80M

DiVosta family sells Palm Beach Gardens office towers for $80M
12251 Tillinghast Circle and Elin Nordegren (Credit: Google Maps and Gustavo Caballero/Getty Images)

Tiger Woods’ ex-wife buys Palm Beach Gardens home

Tiger Woods’ ex-wife buys Palm Beach Gardens home
Jack Niklaus and a rendering of the Panther National Clubhouse (Getty)

Jack Nicklaus to design golf course at Avenir in Palm Beach Gardens

Jack Nicklaus to design golf course at Avenir in Palm Beach Gardens
Waterway Café (Facebook)

Waterway Cafe in Palm Beach Gardens sells for $13M

Waterway Cafe in Palm Beach Gardens sells for $13M
Jeff Bezos and 700 Lincoln Road (Getty, Lincoln Road BID)

Amazon to open store on Lincoln Road

Amazon to open store on Lincoln Road
NAI/Merin Hunter Codman Chairman Neil Merin and Golden Bear Plaza

Golden Bear Plaza office complex in Palm Beach Gardens sells for $50M

Golden Bear Plaza office complex in Palm Beach Gardens sells for $50M
Stephen Gravett, CEO of Kennedy Homes and a rendering of Trevi Isle home community

Kennedy Homes sells Palm Beach Gardens community amid allegations of mismanagement

Kennedy Homes sells Palm Beach Gardens community amid allegations of mismanagement
Ara K. Hovnanian

K. Hovnanian to build homes at Avenir in Palm Beach Gardens

K. Hovnanian to build homes at Avenir in Palm Beach Gardens
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...