Berkadia Negotiates $30.1M Build-to-rent (BTR) Property Sale in Avondale, Arizona
Avondale, Arizona – February 19, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the sale of Avalon Townhomes, a newly constructed, boutique build-to-rent (BTR) community consisting of 70 large-format townhome residences in Avondale, Arizona. Senior Managing Director Mark Forrester, Managing Director Andrew Curtis, and Senior Director Ryan Boyle of Berkadia Phoenix led the transaction on behalf of the seller, Arizona-based Bela Flor & TruVista Development.
Avalon Townhomes sold for $30.1 million to LVP Partners Group on February 17. The sales price reflects a per-unit price of $430,000 or $256.42 per square foot. The property was 93% occupied at the time of the sale. This transaction by LVP Partners Group marks their fourth acquisition in Metro Phoenix since 2020, bringing their total holdings to 426 units in Arizona.
“In comparison to many build-to-rent communities recently delivered in Metro Phoenix, Avalon Townhomes stands apart due to its site plan, amenities, and spacious floor plans that include attached garages,” said Curtis.
“Ownership delivered an exceptional community. The front-loaded townhome format allowed Avalon Townhomes to outpace market norms throughout lease-up, absorption, contract rents, occupancy and more, thus giving conviction to investors,” said Forrester.
Completed in 2025, Avalon Townhomes offers a dynamic mix of spacious two- and three-bedroom townhomes for an average square footage, of 1,677 and thoughtfully designed to deliver the privacy and functionality of single-family living within a professionally managed rental format.
Purpose-built for today’s discerning renter, Avalon Townhomes distinguishes itself through modern architecture, direct-access one- and two-car garages with EV charging, dedicated driveways, private enclosed backyards, and an elevated interior finish package featuring quartz counters, kitchen islands, luxury plank flooring, stainless steel appliances, walk-in closets, dual vanities, doggy doors, and full smart home connectivity. Residents experience an inviting, gated neighborhood ambience, enhanced by a curated suite of amenities including a resort-style pool and spa, pet park, outdoor fitness circuit, BBQ ramada, spacious driveways, and abundant guest parking.
Berkadia Single-Family Rental (SFR) and Build-to-Rent (BTR) have a national footprint and unrivaled local expertise that has become increasingly valuable as the demand for SFR and BTR properties grows. Berkadia takes a more coordinated approach to SFR/BTR properties, creating a specialty resource to better serve a diverse range of investors. With a presence in over 65 markets, and a combination of deep market expertise and cutting-edge technology, Berkadia is well-equipped to finance and sell SFR/BTR properties, delivering real-time insights and advisory services to clients.
Bela Flor sells newly built Avondale rental community for $30.1M | Phoenix Business Journal
Phoenix-Area Apartment Property Sells for $30.1Mln | CRE Direct
Bela Flor sells townhomes for $30M cash in built-to-rent capital of US | The Real Deal
Bela Flor Sells Avalon Townhomes BTR Community in Avondale for $30.1M | CRE Marketbeat
Bela Flor Sells Avondale BTR Community for $430K/Unit | Connect CRE
Bela Flor, TruVista Sell Avalon Townhomes in Avondale, Arizona for $30.1M | RE Business Online
Berkadia Arranges $30.1M BTR Trade in Phoenix Metro | Multifamily & Affordable Housing Business