Bonaventure was featured in Yield PRO in an article highlighting the full subscription and closing of two Delaware Statutory Trust offerings for multifamily communities in Virginia.
The article notes that the offerings were connected to Promenade Pointe, a 183-unit waterfront multifamily community in Norfolk, and Messenger Place, a 94-unit multifamily community in downtown Manassas. Together, the two offerings raised more than $54 million in total equity from 86 investors.
Yield PRO reports that Promenade Pointe was developed by Bonaventure in 2013 and has remained under the firm’s ownership and management since stabilization. The Promenade Pointe offering raised $20.1 million in equity from 45 investors.
The article also highlights Messenger Place, a 94-unit community built in 2019 and acquired by Bonaventure in 2021. The Messenger Place offering raised $34.1 million in equity from 41 investors.
Casey MacMaster, Senior Vice President, Investments and Portfolio Manager at Bonaventure, is quoted in the article discussing how different investors may need different investment paths depending on their life stage and portfolio goals. He notes that Promenade Pointe and Messenger Place are examples of how Bonaventure’s platform can help investors transition, diversify and preserve capital while remaining invested in real estate.
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