Investment Overview

Advantageously located adjacent to the lifestyle resurgence of downtown Mesa, Cottonwood Apartments (“the property”) is a multifamily community positioned on the northwest corner of Country Club Drive and Brown Road, just south of Red Mountain Freeway (Loop 202). Pinpointed against the backdrop of the newfound resurgence of Downtown Mesa, the property is primely positioned to reap the benefits of the surrounding employment corridors, higher education facilities, and lifestyle destinations, providing residents with a well-rounded landscape to capitalize on. Defined by the area’s eateries, galleries, and annual events, Downtown Mesa is quickly becoming a cultural mainstay for the Southeast Valley, as evidenced by the presences of The Mesa Arts Center and the hosting of Mesa Music Festival. In addition to the ±6,800 employees and ±300 businesses placed in Downtown Mesa, the property has direct access to the long stretch of the Superstition Employment Corridor running down US60 and its ±34,000 employees, as well as the ±17,000 employees and ±600 businesses, including Banner Health and Mesa Community College, stationed in the Fiesta District. A Valley Metro light rail station within walking distance of the property creates seamless transportation to not only these workplaces, but also the enormous Arizona State University just over the Loop 101. Cottonwood Apartments was built in 1971 and is comprised of 24 two-bedroom floorplans and 24 one-bedroom floorplans, with an overall average unit size of 824 square feet. Future ownership will have the ideal opportunity to implement a value-add strategy ranging from a full renovation program, capitalizing on the premiums associated with upgraded fixtures and finishes, or a potential redevelopment plan, taking advantage of the 2.57 acres that the property offers.