Welltower Acquires San Jose Senior Living Complex for $99.6 Million

Welltower Inc. acquired the Novelle Senior Living complex in San Jose for $99.6 million in an all-cash transaction. Documents filed August 19 with the Santa Clara County Recorder’s Office confirm the purchase of the 195-unit facility located at 3355 Almaden Expressway in the Willow Glen district.

The complex was developed in 2025 by a real estate alliance comprising Columbia Pacific Advisors and SRM Development, with total project investments estimated at $95 million.

This acquisition follows a similar high-value transaction in the same area. On July 30, Griffin-American Healthcare REIT IV, Inc. purchased a separate 200-unit senior living complex at 4610 Almaden Expressway for $102.8 million in cash.