BH Properties Scoops up Terrace Park Multi-family

PHOENIX—B.H. Properties LLC, Los Angeles, has purchased the 214-unit Terrace Park Apartments for $6.2 million.

“The plan is to run the property in accordance with other BH-owned properties in Phoenix,” said Steve Jaffe, executive vice president and general counsel at BH Properties. “We can take advantage of economies of scale by cross-marketing, sharing staff and promoting properties to new visitors, namely with Sunpointe which is in close proximity at the intersection of McDowell and 71st Avenue.” This acquisition gives BH Properties its 8th multifamily property in Arizona in the past 24 months.