Courtyard Towers in Mesa, Arizona

Institutional Property Advisors Brokers Sale of Courtyard Towers in Mesa, Arizona

by Channing Hamilton

MESA, ARIZ. — Institutional Property Advisors, a division of Marcus & Millichap, has brokered the sale of Courtyard Towers, a 13-story residential tower in Mesa. Cliff David and Steve Gebing represented the seller and procured the buyer. Soltrust Robson purchased the asset from Okland Capital for an undisclosed price. The transaction was financed by Blueprint Capital Income REIT.

Courtyard Towers was constructed in 1984 on 1.3 acres. The high-rise community currently offers 169 units. The buyer plans to renovate the community with updates to the unit finishes and amenities. After the renovation, the property will become a 176-unit community as a function of Downtown Mesa’s Form-Based Code land regulations, which changes the property zoning from Commercial Downtown to Transect 5-Main Street Flex.

You may also like