Constructed in 1984 on 1.3 acres in Mesa, the 13-story Courtland Towers was purpose-built as a 169-unit multifamily community before being converted to seniors housing in the early 2000s and vacated in 2022.
The seller was Okland Capital. The buyer, Soltrust Robson, was financed by Blueprint Capital Income REIT. An Institutional Property Advisors team led by Cliff David represented the seller and procured the buyer. David added, “Delivered vacant at closing, the property is primed for transformation into Downtown Mesa’s only high-rise multifamily community.” Current zoning permits 176 units.
Easily accessible from Arizona State Route 87/Country Club Drive and Main Street, the property is within an Opportunity Zone and steps from the Valley Metro light rail line. Arizona State University’s Mesa City Center campus, Arizona Museum of Natural History, the i.d.e.a Museum, the Nile Theater, and the Mesa Arts Center are all nearby and walkable.