Waterton Adds San Jose Apartments to Bay Area Portfolio

Waterton Adds San Jose Apartments to Bay Area Portfolio
News| February 5, 2026| Paul Bubny
California & West + Apartment Buildings

(Updated with additional information)

Waterton, a national real estate investor and operator, has acquired Misora, a 212-unit mid-rise apartment community located at 388 Santana Row in San Jose. Separately, Federal Realty Investment Trust said it was the seller and that the sale price was $148.5 million. Waterton will institute a broad value-add program to upgrade residences and revitalize the amenity spaces.

“We’re currently seeing favorable market dynamics and strong supply-demand fundamentals prevail across the Bay Area and throughout Silicon Valley,” said Ben Slack, VP, acquisitions at Waterton. “Demand continues to be driven by the tech sector in this high-barrier-to-entry district that hasn’t seen a new apartment delivery in nearly a decade.”

Built in 2013, Misora offers a variety of larger-than-average floorplans across studio, one-, two- and three-bedroom configurations. The acquisition brings Waterton’s owned and managed multifamily portfolio to more than 920 units in the Bay Area.

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