Northwest investor buys Phoenix apartments

2-year-old property contains 185 rental units

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Hendricks & Partners brokered the sale of Belaflora, a 185-unit apartment community in Phoenix, Ariz. The value of the transaction was $16.1 million. The property is located at 5302 East Van Buren Ave. It was built in 2002 and offers a full complement of class A multifamily amenities. Belaflora's average unit size is 785 square feet. Newport Beach, Calif.-based Phoenix Belaflora Apartments LLC sold the property to Belaflora Associates LLC of Seattle, Wash. Hendricks & Partners is a national advisory firm focused exclusively on the sale of multifamily properties. *** Send tips, feedback or a letter to the editor to newsroom@inman.com or call (510) 658-9252, ext. 124....