NEW YORK--(BUSINESS WIRE)--An affiliate of Mack Real Estate Group, L.L.C. ("MREG") has successfully acquired approximately 2,300 acres of land adjacent to the Taiwan Semiconductor Manufacturing Company ("TSMC") campus in Phoenix, Arizona at a bankruptcy auction. The winning bid was $111 million. The land is strategically located near Loop 303, which provides convenient access to transportation and other infrastructure. The site is also in close proximity to other major employers, including Intel and Nikola Motor Company. Richard Mack, CEO of MREG, commented, "We are pleased to have acquired this significant parcel of land in such a dynamic and growing market. We believe that this site has tremendous potential for future development, and we look forward to working with the City of Phoenix and other stakeholders to create a world-class project that will benefit the entire community." MREG is a real estate investment management firm with over $10 billion in assets under management. The firm has a long track record of successful investments in a variety of property types, including office, industrial, retail, and residential. MREG is headquartered in New York City and has offices in Los Angeles, Chicago, and San Francisco. About Mack Real Estate Group MREG is an institutional real estate investment management firm with approximately $10 billion in assets under management. MREG specializes in identifying and acquiring real estate investments throughout the United States that offer long-term value creation through active management and capital improvements. MREG's extensive experience includes developing, acquiring, and managing properties across various asset classes including office, industrial, multifamily, student housing, hospitality, and mixed-use. MREG invests on behalf of some of the most sophisticated institutional investors globally including public and private pension funds, insurance companies, sovereign wealth funds, and endowments and foundations. For more information, visit www.mackregroup.com.