Northmarq’s Phoenix Investment Sales team completes $41M sale of Tides on McDowell
PHOENIX — Northmarq’s Phoenix Investment Sales team led by Jesse Hudson, Logan Baca and Chris Michl successfully completed the $41 million sale of Tides on McDowell, a 274-unit multifamily community located at 4620 W. McDowell Rd. in Phoenix, Arizona.
Northmarq represented the seller, Tides Equities. The buyer was Nitya Capital, a Texas-based multifamily operator with over 15,000 units in their portfolio across 55 assets. Nitya Capital assumed the financing from the current lender as part of the transaction.
“Tides on McDowell represented a compelling opportunity for investors seeking scale and upside in one of the nation's most resilient multifamily markets,” Hudson said. “The assumption of favorable in-place financing added significant value to the transaction and ultimately helped bridge the interests of both buyer and seller. We congratulate Tides Equities and Nitya Capital on a successful closing.”
Built in 1985 and sitting on roughly 13.06 acres, Tides on McDowell features 27 two-story buildings with studio, one- and two-bedroom floorplans. The property features a diverse mix of renovated, partially-upgraded and classic units. Select units feature stainless steel appliances, white cabinetry, upgraded countertops, vinyl floors, tile kitchen backsplashes, and in-unit washer/dryer.
Community amenities include a swimming pool, soccer field, playground, leasing office, fitness center, outdoor grilling area, clubhouse, laundry facilities, and gated access.
Tides on McDowell is situated within Phoenix's Westside neighborhood, offering residents convenient access to major employment centers, retail and transportation corridors throughout the greater Phoenix metropolitan area. It is situated with close proximity to Interstate 10 access, and it is roughly six miles west of downtown Phoenix.
Meet our team
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past fours years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
