Alliance Residential JV Secures $59M for Bay Area Senior Community
Walton Street Capital provided the financing.
Alliance Residential and Affinius Capital have secured a $59.2 million loan for the refinancing of The Watermark at Almaden, a 200-unit senior housing community in San Jose, Calif. Walton Street Capital provided the financing.
Formerly known as Atria Almaden, The Watermark at Almaden comprises assisted living and memory care units. Completed at the end of 2020, the property incorporates studio, one-, two-, and companion-bedroom floorplans across a four-story building.
The community features approximately 70,000 square feet of amenity space, which includes a swimming pool, a fitness center, a wellness center, a movie theater, an art studio, a spa, a golf simulator, a cocktail lounge and multiple dining areas. Services provided include wellness services, scheduled transportation, housekeeping and laundry services, on-site maintenance, registered nurses, personalized care, health screenings and help with daily activities.
Located at 4610 Almaden Expressway, the property is 8 miles from downtown San Jose in an area with several retail centers, dining options and green spaces.