Updated Oct 13, 2026
Richard Mack Of Mack Real Estate Group Acquires 206-Unit Phoenix Multifamily For $61.2M
12810 North Cave Creek Road
$61,200,000
Units
206
Asset Type
MultiFamily
Closing
May 28, 2025
About this deal
AI
The asset involved in this transaction is a multifamily property located at 12810 North Cave Creek Road in Phoenix, AZ. The property includes 206 units, with a price per unit of $297,087 and a total sale price of $61,200,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $61,200,000
- Buyer: Richard Mack - Mack Real Estate Group
- Seller: Tides Equities LLC
- Units: 206
- Price Per Unit: $297,087
This transaction occurred on May 28, 2025, when Mack Real Estate Group acquired the property from Tides Equities LLC, which previously faced foreclosure on the complex. This deal was finalized at auction, marking a significant transaction in the Phoenix multifamily market.
On the Map
$61,200,000
MultiFamily
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Phoenix MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93