American Healthcare REIT Buys San Jose Senior Hub for $102.8 Million

American Healthcare REIT, a real estate firm based in Irvine, acquired the Avella at Almaden senior residential complex for $102.8 million in an all-cash transaction. The property, located at 4610 Almaden Expressway in South San Jose, consists of 200 units providing assisted living and memory care.

Documents filed with the Santa Clara County Recorder’s Office on July 30 confirm the sale. The complex was sold by an affiliate of Alliance Residential Co., a Phoenix-based company that developed the site after originally purchasing it in 2017.

Santa Clara County officials noted that the final acquisition price was 9.5% higher than the property's assessed value from January.