In the News
Bonaventure Featured in Commercial Observer on $54M Virginia Multifamily DST Offerings
Bonaventure was featured in Commercial Observer in an article highlighting the company’s completion of two Delaware Statutory Trust offerings totaling $54.2 million.
The article notes that 86 investors committed equity across the two offerings, which are tied to two Class A apartment communities in Virginia: Messenger Place in Downtown Manassas and Promenade Pointe, a waterfront community located north of Downtown Norfolk.
Commercial Observer reports that Messenger Place is a 94-unit multifamily community that Bonaventure acquired in 2021, two years after it was completed. The property is 95.7 percent occupied and raised $34.1 million from 41 investors.
The article also highlights Promenade Pointe, a 183-unit waterfront community developed by Bonaventure in 2013. The property is 94 percent occupied and raised $20.1 million in equity from 45 investors.
Casey MacMaster, Senior Vice President at Bonaventure, is quoted in the article discussing how investors may seek different structures depending on their goals, whether they are completing a 1031 exchange, seeking diversification or looking for a path toward long-term ownership.
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