Bonaventure Waiting on City’s Del Ray Plans Before Making Moves on Mount Vernon Ave. Properties
January 8, 2020
ALX NOW
It will be more than a year until Bonaventure Realty makes a move on plans for a swath of properties it recently purchased along Mount Vernon Ave. in Del Ray, according its Vice President Jeremy Moss.
The company, which last summer bought the properties at 2401, 2403 and 2411-2419 on Mount Vernon Ave., has no immediate plans for changes and jumped at the chance to purchase the properties.
“The reality is that when the properties became available, this was a once in a generation opportunity,” Moss told ALXnow. “All the current uses have remained the same. We still have retail and residential uses, and we intend to honor the existing uses in place.”
The properties include the Alexandria Department of Community and Human Services(2525 Mount Vernon Ave.), which has a lease for an additional 2.5 years, as well as Cheesetique (2411 Mount Vernon Ave.), the recently shuttered Catch on the Avenue restaurant, a number of retail and residential properties and a 144-space parking lot across from Pat Miller Square on Mount Vernon Ave. and E. Oxford Ave.
Disclosures
The article is for informational purposes only and not intended to be all-inclusive and may be changed at any time without notice or obligation to update. This article does not constitute tax, legal, or financial advice. Bonaventure does not provide tax, legal, or accounting services. Tax laws and regulations are subject to change, and individual circumstances vary. Investors should consult their own tax advisor, attorney, or qualified intermediary regarding their specific situation before pursuing any of the strategies discussed. Forward-looking statements may be influenced by a variety of factors, many of which are beyond the control of Bonaventure and could cause the actual outcomes to be materially different from what is projected. Past Performance is not indicative of future results.
Investments in the shares involves a high degree of risk that prospective investors should carefully consider before investing. The investment is for Accredited Investors who have the financial ability and willingness to accept the risks and lack of liquidity inherent in an investment in the shares. There can be no assurance that investment objectives will be achieved or that investors will receive a complete return of their capital. This material is not an offer to sell or a solicitation of an offer to buy any interest in any fund sponsored by Bonaventure or its affiliates. Any offering is made only pursuant to a confidential private placement memorandum (PPM) and related offering documents, which should be reviewed in full and which control in the event of any inconsistency with this material. Share interests are not registered under the Securities Act of 1933 or any state securities laws, and Bonaventure offerings are not registered under the Investment Company Act of 1940.