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Greystone Real Estate Advisors Close Sale on 180-Unit Seniors Housing Property in Texas

NEW YORK, April 7, 2015 (GLOBE NEWSWIRE) -- Greystone, a real estate lending, investment and advisory company, today announced its Real Estate Advisors group has closed the sale of Aspens at Twin Creeks in Allen, TX. Kayne Anderson Real Estate Advisors of Boca Raton, FL acquired the stabilized property from Cadence Capital Partners.

Built in 2011, Aspens at Twin Creeks comprises 180 age-restricted units situated on more than 10 acres. Community amenities include a business center, library, movie theater, covered patio with outdoor dining, resort-style saltwater pool and spa, and exercise facilities. Located approximately 30 miles north of Dallas, Aspens at Twin Creeks offers an excellent location and accessibility for residents.

Cody Tremper, a Managing Director of Greystone Real Estate Advisors, led the sale. "The Aspens at Twin Creeks is an age-restricted opportunity that will allow the buyer to potentially convert the property to a full-service independent living community. Available land adjacent to the property offers the potential future opportunity to add an assisted living building to create a continuum of care campus," said Tremper.

The Greystone Real Estate Advisors team leverages its extensive experience in providing expertise on the disposition or acquisition of seniors housing, including age-restricted communities, independent living, memory care and assisted living facilities.

About Greystone Real Estate Advisors, Inc.

Greystone Real Estate Advisors, Inc. provides services in sales and acquisitions of seniors housing property types including independent living, assisted living, memory care and skilled nursing. The team offers a full spectrum of services including debt, equity, acquisition, and investment sales to funds, private equity groups, regional and national operators, not-for-profit owners and healthcare REITs.

About Greystone

Greystone is a financial services and private investment group whose original core business is real estate lending. Over the years, Greystone has added business lines that are related to, and natural extensions of, its core business including real estate investments and real estate advisory services. Headquartered in New York with offices across the U.S., Greystone is active in three major business segments: Mortgage Finance, Healthcare and Real Estate. Greystone's mission is to apply unparalleled creativity while modeling corporate compassion. For more information about Greystone, visit http://www.greyco.com.

About Kayne Anderson Real Estate Advisors

Kayne Anderson Real Estate Advisors (KAREA) is a private equity firm that invests primarily in off-campus student housing, senior housing and medical office buildings. KAREA has raised three dedicated real estate private equity funds totaling more than $1.6 billion in commitments. KAREA is part of Kayne Anderson Capital Advisors, L.P., a $28 billion alternative investment management firm (as of 12/31/14) with 30 years of successful experience in the energy, infrastructure, growth capital, real estate, middle market credit and distressed municipal sectors. For more information, visit http://www.kaynecapital.com/strategies/real-estate-private-equity.

CONTACT: PRESS CONTACT: Karen Marotta PR Manager, Greystone 212-896-9149 KMarotta@Greyco.com

Source: Greystone