Virginia Multifamily Asset Trades for $100m
June 27, 2022
WILLIAMSBURG, VA – Alexandria, VA-based integrated alternative asset management firm Bonaventure has sold a 289-unit multifamily community in Williamsburg, VA to the Inland Real Estate Group for $100 million.
The garden-style property, the Bend at Arbordale, features a swimming pool, fitness center, business center, clubhouse and dog park. The community offers two- and three-bedroom floorplans that feature in-unit washers and dryers and private balconies or patios.
Located at 401 Bulifants Blvd., the asset is situated near Sentara Williamsburg Regional Medical Center, Rte. 199 and Interstate 64.
“We are very pleased with the outcome of this transaction,” says Dwight Dunton, Bonaventure’s founder and CEO. “The price we were able to command reflects the asset’s high quality and the strong investor appetite for stabilized multifamily communities in markets with solid employment fundamentals. We take great pride in our proven ability to create meaningful value for our residents and investors.”
Berkadia senior managing director Drew White and senior director Carter Wood facilitated the sale on behalf of Bonaventure.