Student housing specialist Kayne Anderson Real Estate Advisors (KAREA) has appointed David Selznick as a new managing director.
A statement by the private equity real estate arm of Kayne Anderson Capital Advisors noted that Selznick is responsible for all portfolio financing activities. In addition, he is in charge of strategic initiatives with active involvement in structuring transactions and implementing value-add enhancements to portfolios.
In a statement, KAREA chief executive officer Al Rabil said Selznick would “provide great insight in helping to structure deals and expand financing relationships.”
Prior to joining the Armonk, New York-based investment firm, Selznick was the managing principal of Burnham Capital Group, a real estate investment firm based in Chicago. Before that, he held a number of real estate finance posts with such firms as Deutsche Bank, Bridger Commercial Funding, Capmark and Nat City Investments. Throughout his career, Selznick has acquired, underwritten and/or securitised more than $1 billion in commercial real estate transactions.
In October, KAREA closed on $575 million in equity commitments for its latest fund, Kayne Anderson Real Estate Partners II, which is targeting student housing opportunities in the US. The opportunistic fund closed well above its initial target of $350 million.