Welltower drops $100M on San Jose senior housing complex as silver tsunami washes across Silicon Valley
One of the country’s largest real estate companies just purchased a senior apartment complex in San Jose for nearly $100 million. Welltower, the world’s largest healthcare real estate investment trust, acquired the Novelle Senior Living apartments at 3355 Almaden Expressway in a $99.6 million all-cash deal, the Mercury News reported. Columbia Pacific Advisors and SRM Development completed the 195-unit property in San Jose’s Willow Glen neighborhood last year and sold it to a Welltower affiliate. Columbia Pacific and SRM bought the property in 2019 for $16.5 million and secured a $78.5 million construction loan in 2022, bringing their investment in […]
This article originally appeared on The Real Deal. Click here to read the full story.
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