In the News
Bonaventure Featured in CRE Market Beat on Fully Subscribed Multifamily DST Offerings
Bonaventure was featured in CRE Market Beat in an article highlighting the company’s completion of two fully subscribed Delaware Statutory Trust offerings backed by multifamily properties in Virginia.
The article notes that Bonaventure raised more than $54 million in total equity from 86 investors across Promenade Pointe, a 183-unit waterfront multifamily community in Norfolk, and Messenger Place, a 94-unit multifamily community in downtown Manassas.
Promenade Pointe was developed by Bonaventure in 2013 and has remained under the firm’s ownership and management since stabilization. The DST offering for the property raised $20.1 million in equity from 45 investors.
Messenger Place was built in 2019 and acquired by Bonaventure in 2021. The Messenger Place DST raised $34.1 million in equity from 41 investors.
The article also includes commentary from Casey MacMaster, Senior Vice President, Investments and Portfolio Manager at Bonaventure, on how different investors may need different approaches depending on their life stage and portfolio objectives. CRE Market Beat notes that Bonaventure uses structures such as Custom 1031 Exchanges, DSTs and UPREITs to help investors transition, diversify and preserve capital while remaining invested in real estate.
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