Kayne Anderson Real Estate Announces Recapitalization of Class A Senior Housing Portfolio in Partnership with Tradition Senior Living

BOCA RATON, Fla., June 8, 2026 /PRNewswire/ -- Kayne Anderson Real Estate ("Kayne" or the "Firm"), the real estate private equity arm of Kayne Anderson, today announced that it has entered into an agreement to recapitalize a Class A senior housing portfolio (the "Portfolio") in partnership with existing owner-operator Tradition Senior Living ("TSL"), a leading owner, developer and operator of luxury senior living communities across Texas. As part of the transaction, Kayne established a new joint venture partnership with TSL (the "Joint Venture"), through which TSL will serve as Kayne's operating partner and continue in its role as property manager.

The transaction further expands Kayne's footprint as one of the largest and most established owner-operators of senior housing assets in the U.S. and marks the Firm's first investment alongside TSL. Since entering the sector in 2013, Kayne has invested in over 115 private-pay senior living communities across 25 states, totaling over 16,000 units. Through long-standing, proprietary partnerships with leading operators, Kayne has developed deep expertise across independent living, assisted living and memory care, with a focus on high-quality assets located in markets benefiting from favorable demographic trends.

The Portfolio consists of five Class A senior living communities located in some of Texas' most desirable and affluent submarkets, including The Tradition-Clearfork in Fort Worth, The Tradition-Lovers Lane and The Tradition-Prestonwood in Dallas, and The Tradition-Woodway and The Tradition-Buffalo Speedway in Houston. Collectively, the communities comprise 1,546 units, including 1,047 independent living units, 348 assisted living units and 151 memory care units, providing residents with a full continuum of care and the ability to age in place within their local communities. The Portfolio is approximately 96% occupied and is recognized for its premium amenities, extensive programming and high-quality care. Located within two of the nation's fastest growing and economically dynamic metropolitan areas in the country, the communities are well-positioned to benefit from an expanding senior population and limited future supply.

"We have spent more than a decade building one of the leading seniors housing investment platforms in the country, and this transaction reflects our continued conviction in this mission critical sector," said Al Rabil, CEO of Kayne Anderson and Co-Founder and CEO of Kayne Anderson Real Estate. "Today, we see a generational opportunity in seniors housing, supported by strong demographic tailwinds, limited new supply and growing demand for high-quality care environments. This transaction adds meaningful scale in top-tier markets and an experienced operating partner to our platform, positioning us to continue expanding our seniors portfolio and delivering risk-adjusted returns for our investors."

David Selznick, Chief Investment Officer of Kayne Anderson Real Estate, added, "This transaction highlights our ability to source and execute on a unique opportunity to recapitalize a scaled portfolio of premier senior housing assets alongside an experienced operator. TSL has established an impressive portfolio and a strong reputation with residents, and we look forward to building on that foundation as we work together to grow our seniors housing platform."

About Kayne Anderson Real Estate
Kayne Anderson Real Estate is a leading real estate investment firm, managing $22 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, self-storage, and light industrial. Kayne Anderson Real Estate is part of Kayne Anderson, an approximately $43 billion alternative investment management firm with more than 41 years of successful experience across real estate, infrastructure, energy, and credit. For more information, visit www.kayneanderson.com/real-estate/. (As of May 2026)

Media Contact: 

Kayne Anderson Real Estate
Jon Keehner / Madeline Jones
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

SOURCE Kayne Anderson Real Estate