Columbia Pacific Advisors

3355 Almaden Expressway Completed Structure, image via SRM Development

Firm Purchases Newly Completed Senior Living Complex at 3355 Almaden Expressway in San Jose

A recently opened senior living community at 3355 Almaden Expressway in San Jose was sold last week to a new real estate firm. George Avalos of the Mercury News reported that Welltower Inc, a major healthcare-focused group, purchased Novelle Senior Living for just under $100 million in cash. The site is a recent construction, opening it’s doors just last year. As of now, it is unclear why the original developers, Columbia Pacific Advisors and SRM Development, chose to sell it so soon after completion.

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500 Kirkham Street outlined approximately by YIMBY, image by Google Satellite

Temporary Parking Proposed For 500 Kirkham Street, West Oakland

Permits have been filed for interim use of 500 Kirkham Street as a parking lot in West Oakland. Previously, the city approved plans for a 1,032-unit mixed-use development by Panoramic Interests. The property was returned to lenders in 2023 after the developer defaulted on a loan, and the current owner, Columbia Pacific Advisors, is looking for a buyer for the development opportunity.

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500 Kirkham Street phase three tower, rendering by BDE Architecture and SiteLab Urban Studio

Lender Takes Site of 32-Story Proposal in West Oakland

Lenders have taken over property ownership of 500 Kirkham Street in West Oakland, Alameda County. Back in 2019, the city approved plans by Panoramic Interests for a mixed-use complex with 1,032 units plus retail across a 32-story tower and two mid-rises. However, the developer struggled to get financing for the project during the pandemic and defaulted on its $6.25 million loan for the city earlier this year.

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