JLL facilitates sale of premier Northern California senior housing portfolio

SAN DIEGO, Aug. 24, 2026 –  JLL’s Capital Markets group announced today that it has completed the sale of a premier two-property senior housing portfolio totaling 545 units in San Jose and Roseville, California.

JLL represented the seller, a joint venture between Affinius Capital and Alliance Residential Company, and procured the buyer, a publicly traded real estate investment trust.

The transaction represents one of the largest senior housing portfolio sales in Northern California in recent years and underscores the institutional investment community's appetite for modern, well-located assets developed by proven sponsors in demographically superior markets.

The portfolio comprises Sonrisa Senior Living, a 345-unit campus in Roseville spanning independent living (201 units), assisted living (120 units) and memory care (24 units) across two buildings delivered in 2021 and 2023, and The Watermark at Almaden, a 200-unit fully licensed independent living, assisted living and memory care community in San Jose that opened in 2021. The communities feature exceptional amenities such as outdoor pools, state-of-the-art fitness centers, bocce ball and pickleball courts, full-service salons and spa, theaters and gourmet dining venues.

Sonrisa Senior Living is strategically located at 1031 and 1041 Roseville Parkway in the Sacramento MSA with exceptional visibility and direct connectivity to Interstate 80 and Highway 65. The surrounding 15-mile primary market area boasts an average household income of $146,802 and median home value of $643,994, with the age 75+ population projected to grow 20.9% by 2031.

The Watermark at Almaden is located at 4610 Almaden Expressway in San Jose, offering exceptional visibility with convenient access to upscale retail and grocery destinations. The surrounding 15-mile primary market area features an average household income of $239,555, median home value of $1.55 million and average net worth of $3.13 million for households age 75+, with the qualified seniors population projected to grow 20.2% by 2031.

The JLL Senior Housing Capital Markets team representing the seller was led by Senior Managing Director Aaron Rosenzweig, along with Senior Director Dan Baker and Analyst Sandis Seale.

"This transaction exemplifies Alliance Residential Company and Affinius Capital's ability to develop and position institutional-quality senior housing assets that command premium valuations from sophisticated capital sources," said Rosenzweig. "The portfolio represents trophy-level product in two ultra-high-barrier-to-entry California markets experiencing unprecedented wealth migration.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom. 

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.          

Affinius Capital® is an integrated institutional real estate investment firm focused on value creation and income generation. With a 40-year track record and $61 billion in assets under management, Affinius has a diversified portfolio across North America and Europe providing both equity and credit to its trusted partners and on behalf of its institutional clients globally. For more information, visit affiniuscapital.com. 

Alliance Residential Company is one of the largest and most active rental residential real estate developers in the United States. Headquartered in Scottsdale, Arizona, with 19 regional offices, Alliance is focused on the development, construction, and acquisition of residential communities across 16 states and 39 metropolitan markets. Alliance develops high-end Broadstone multifamily communities, Holden senior housing communities, and essential housing properties through its Prose brand. For more information, visit www.allresco.com.

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.