RK Properties Sells 160-Unit Azure Creek in Maricopa for $36M

California-based RK Properties has sold Azure Creek, a 160-unit, garden-style multifamily asset in Maricopa, AZ. The company walked away from the transaction with CWS Capital Partners LLC with $36.3 million.

Berkadia’s Mark Forrester, Ric Holway and Dan Cheyne negotiated on behalf of the seller for the property at 29862 Tatum Blvd., which is within the 1,500-acre Tatum Ranch master-planned community. Tatum Ranch includes 3,418 single-family homes and the Terra Vista Condominiums, in addition to multifamily housing. The development also has five commercial sites.

Azure Creek offers one and two-bedroom units. Amenities include a resort-style swimming pool, outdoor grilling stations, a fitness center, movie theater, business center and dog park.

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