Novelle Senior Living in San Jose sold for $99.6 million to Welltower

Nnewly completed Novelle Senior Living in San Jose's Willow Glen district sold for $99.6 million to healthcare real estate giant Welltower, marking the second major senior housing transaction on Almaden Expressway in less than a month. This all-cash transaction highlights surging institutional demand driven by a growing regional aging population and follows another major multi-million dollar senior housing deal along the Almaden Expressway corridor.