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9/14/15
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Sierra Capital purchased Courtyard Towers, a 175-unit seniors housing property in Mesa, AZ, for $20.86 mil ($119.2k/unit). The independent living, assisted living and memory care community, in operation since 1997, was sold by Harrison Street Real Estate Capital.
Originally built in 1985 and converted to seniors housing 12 years later, Courtyard Towers offers 22 independent living units, 123 assisted living units, and 30 memory care units serving the Mesa, AZ region.
Sierra Capital has selected Frontier Management to provide management services for the community, bringing Frontier’s portfolio to four properties in the state. Cody Tremper of Greystone Real Estate Advisors represented Harrison Street Real Estate Capital in the transaction.
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