Waterton Acquires 212-Unit Misora Multifamily Property at San Jose's Santana Row
Waterton, a national real estate investor and operator, announced February 5, 2026, the acquisition of Misora, a 212-unit multifamily community located at 388 Santana Row in San Jose, California. The acquisition expands Waterton's Bay Area portfolio to over 920 owned and managed multifamily units.
Multifamily Real Estate Acquisition Details
Built in 2013, Misora offers studio, one-bedroom, two-bedroom and three-bedroom configurations across 212 units. Half of the residences feature a loft configuration or den, with select units including private balconies. The mid-rise apartment community includes amenities such as a lap pool, lounge pool, spa, rooftop sundeck with barbecue and dining areas, coworking lounge and conference center, fitness studio, demonstration kitchen and private underground parking.
"We're currently seeing favorable market dynamics and strong supply-demand fundamentals prevail across the Bay Area and throughout Silicon Valley," said Ben Slack, vice president of 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."
Value-Add Investment Strategy
Waterton plans to implement a comprehensive value-add program at the property. Residential upgrades will include vinyl plank flooring, new lighting and plumbing fixtures, quartz countertops, new backsplashes and a technology package. Stainless steel appliance packages and cabinets will be added as needed throughout the units.
The location provides residents access to the Westfield Valley Fair mall and approximately one million square feet of walkable shopping, dining and entertainment options. The property sits blocks from the Interstate 880 and Interstate 280 interchange, offering convenient access to employment centers throughout the region.
About Waterton
Waterton is a real estate investment and property management company focused on U.S. multifamily and hospitality properties. Founded in 1995, the firm executes value-add, core and credit strategies, managing a national portfolio on behalf of institutional investors, family offices and financial institutions. As of September 30, 2025, Waterton's portfolio included approximately $9.7 billion in real estate assets. The company is privately held and headquartered in Chicago with regional teams throughout the United States.