Wichita-based Kansas Spine & Specialty Hospital and Abay Medical Plaza are among healthcare entities to be sold to a joint venture involving two real estate companies.
The value of the transaction featuring Remedy Medical Properties and private equity group Kayne Anderson Real Estate was not revealed but was backed by $27.8 million from a unit of First Citizens Bank, according to a Dec. 14 news release. Abay Medical Plaza is leased to four tenants, including Abay Neuroscience Center and the Pain Center at Kansas Spine & Specialty Hospital.
Remedy Medical Properties is a healthcare real estate company with more than 28 million square feet and 25 offices spanning 43 states. Kayne Anderson invests in medical offices, housing for older adults, off-campus student housing, multifamily housing and self-storage, managing approximately $14.5 billion in real estate.
Private equity groups are an increasing influence in the healthcare industry, having invested $1 trillion in healthcare transactions in the past decade.