Bela Flor Sells Avondale BTR Community for $430K/Unit

Bela Flor Communities sold a build-to-rent community it developed in Avondale in 2025 to LVP Partners Group for $30.1 million in cash, nearly $430,000 a unit.

Called Avalon Townhomes, the property was built in 2025 on 5.77 acres at 13025 W. Thomas Road. The Phoenix Business Journal reports Bela Flor bought the vacant parcel from TruVista Development in February 2023 for $4.2 million in cash.

Averaging 1,677 square feet per unit, the property was 93% occupied when the transaction closed, with monthly rental rates ranging between $2,294 to $2,583.

This transaction marks the fourth acquisition in metro Phoenix since 2020 for LVP Partners Group, bringing its total holdings to 425 units in Arizona.

Mark Forrester, Andrew Curtis and Ryan Boyle led the transaction for Berkadia Phoenix, on behalf of the seller.

Metro Phoenix has a deep history of build-to-rent properties in the United States, with more than 29,000 existing BTR and townhome units.

Capital & Closings – Inside Today’s Phoenix Deal Market: Capital is available — but it’s disciplined, selective and highly asset-specific. At Connect Phoenix Multifamily, SFR & BTR on April 8, industry leaders will examine lending terms, equity thresholds, recapitalizations, bid-ask resets and what sponsors must demonstrate to secure capital and close in today’s environment. Join the conversation shaping transaction reality in Greater Phoenix. Register to attend: www.ConnectPHXMF2026.com