Bela Flor Communities has sold a build-to-rent community it developed in Avondale in 2025 in an all-cash deal.
The Mesa-based homebuilder closed on the sale of a 70-unit townhome property to Avalon LVP LLC for $30.1 million in cash on Feb. 17, according to Tempe-based real estate database Vizzda LLC.
Called Avalon Townhomes, the property was built in 2025 on 5.77 acres at 13025 W. Thomas Road.
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.
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