Walton Street Originates $59M Refi on San Jose Senior Living
An affiliate of Walton Street Capital, L.L.C. originated a $59.2-million loan to a partnership between Alliance Residential and Affinius Capital for the refinance of Watermark at Almaden, a 200-unit senior living community located at 4610 Almaden Expressway in San Jose.
Delivered in late 2020, the property is currently completing lease-up. It includes a variety of studio, one-, two-, and companion-bedroom floorplans. Community amenities span nearly 70,000 square feet and include multiple dining areas, a cocktail lounge, fitness and wellness center, golf simulator, spa, outdoor pool, and many more spaces catered to enhancing the resident experience.
“This was an attractive opportunity to finance a senior living community in a high barrier to entry market that has continually displayed strong market fundamentals,” said Hilary Caudle, VP with Walton Street. “Both Alliance and Affinius are experienced in the sector and developed a top-grade asset to cater to the San Jose market.”