Affinius Capital, Alliance Residential Dispose of 545-Unit Seniors Housing Portfolio in Northern California
Why this matters
Capital markets activity continues to be defined by the rotation from bank balance sheets to non-bank lenders. Private credit funds have raised record dry powder; banks have tightened CRE underwriting standards for the sixth consecutive quarter. The result is a market where well-sponsored deals clear, and marginal credit pays a meaningful spread to do so. San Francisco continues to clear office at the deepest discounts to 2019 basis seen in the cycle, while multifamily fundamentals have stabilized and life sciences in the Peninsula remains active. For LPs, the allocation conversation has shifted decisively toward real estate debt, with equity allocations being deployed more selectively into operator-led platforms.
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On the RET wire
- The 115th San Francisco story tracked on the wire in September 2026. All San Francisco coverage →
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ROSEVILLE AND SAN JOSE, CALIF. — A joint venture between Affinius Capital and Alliance Residential has sold a two-property seniors housing portfolio totaling 545 units in Northern California. The portfolio includes So…
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