jeffdashley

June 24, 2022

Bonaventure has sold its 289-unit community in Williamsburg, Va., after completing it two years prior. The firm sold The Bend at Arbordale for $100 million to The Inland Real Estate Group. Berkadia’s Drew White and Carter Wood facilitated the sale on behalf of Bonaventure.

“The demand for the asset was strong due to its location, amenities, vintage, renter profile and the market’s strong fundamentals,” Dwight Dunton, founder & CEO of Bonaventure, told MHN. “The demand also demonstrates the strength and resiliency of the multifamily asset class.”

Bonaventure developed The Bend at Arbordale, delivering its first units in January 2020 and completing the entire community in July 2020. The garden-style community offers two- and three-bedroom units that range in size from 756 to 1,328 square feet. The developer built the units with keyless entry, in-unit washers and dryers, and private balconies or patios, while the common area amenities include a sun deck with fire pits, business center, clubhouse, fitness center, pool, coffee bar and dog park.

Located at 401 Bulifants Blvd., the community is near a major employer, the Sentara Williamsburg Regional Medical Center. The Bend at Arbordale is also located near Williamsburg’s many retail and restaurant options near Route 199 and Interstate 64.

“With inflation and homes prices continuing to rise, there’s an expectation that high quality rental properties will remain in demand,” Dunton also told MHN. “Multifamily properties are also benefiting from the renter by choice cohort who prefer this lifestyle and want the flexibility that a lease affords.”

CONTINUING TO BOLSTER VIRGINIA PRESENCE

Despite the recent sale, Bonaventure is still building out its Virginia portfolio. The firm broke ground on a 271-unit luxury apartment community in April, which will be replacing a shuttered Sears location. The first move-ins are expected in 18 months, but the overall project will take two years.

Bonaventure is also still acquiring apartment communities throughout the state. In December, the firm acquired two Virginia apartment communities, a 94-unit community in Manassas and a 200-unit community in Virginia Beach.

VIEW ARTICLE ONLINE

June 24, 2022

Bonaventure has sold its 289-unit community in Williamsburg, Va., after completing it two years prior. The firm sold The Bend at Arbordale for $100 million to The Inland Real Estate Group. Berkadia’s Drew White and Carter Wood facilitated the sale on behalf of Bonaventure.

“The demand for the asset was strong due to its location, amenities, vintage, renter profile and the market’s strong fundamentals,” Dwight Dunton, founder & CEO of Bonaventure, told MHN. “The demand also demonstrates the strength and resiliency of the multifamily asset class.”

Bonaventure developed The Bend at Arbordale, delivering its first units in January 2020 and completing the entire community in July 2020. The garden-style community offers two- and three-bedroom units that range in size from 756 to 1,328 square feet. The developer built the units with keyless entry, in-unit washers and dryers, and private balconies or patios, while the common area amenities include a sun deck with fire pits, business center, clubhouse, fitness center, pool, coffee bar and dog park.

Located at 401 Bulifants Blvd., the community is near a major employer, the Sentara Williamsburg Regional Medical Center. The Bend at Arbordale is also located near Williamsburg’s many retail and restaurant options near Route 199 and Interstate 64.

“With inflation and homes prices continuing to rise, there’s an expectation that high quality rental properties will remain in demand,” Dunton also told MHN. “Multifamily properties are also benefiting from the renter by choice cohort who prefer this lifestyle and want the flexibility that a lease affords.”

CONTINUING TO BOLSTER VIRGINIA PRESENCE

Despite the recent sale, Bonaventure is still building out its Virginia portfolio. The firm broke ground on a 271-unit luxury apartment community in April, which will be replacing a shuttered Sears location. The first move-ins are expected in 18 months, but the overall project will take two years.

Bonaventure is also still acquiring apartment communities throughout the state. In December, the firm acquired two Virginia apartment communities, a 94-unit community in Manassas and a 200-unit community in Virginia Beach.

VIEW ARTICLE ONLINE

June 24, 2022

Bonaventure has sold its 289-unit community in Williamsburg, Va., after completing it two years prior. The firm sold The Bend at Arbordale for $100 million to The Inland Real Estate Group. Berkadia’s Drew White and Carter Wood facilitated the sale on behalf of Bonaventure.

“The demand for the asset was strong due to its location, amenities, vintage, renter profile and the market’s strong fundamentals,” Dwight Dunton, founder & CEO of Bonaventure, told MHN. “The demand also demonstrates the strength and resiliency of the multifamily asset class.”

Bonaventure developed The Bend at Arbordale, delivering its first units in January 2020 and completing the entire community in July 2020. The garden-style community offers two- and three-bedroom units that range in size from 756 to 1,328 square feet. The developer built the units with keyless entry, in-unit washers and dryers, and private balconies or patios, while the common area amenities include a sun deck with fire pits, business center, clubhouse, fitness center, pool, coffee bar and dog park.

Located at 401 Bulifants Blvd., the community is near a major employer, the Sentara Williamsburg Regional Medical Center. The Bend at Arbordale is also located near Williamsburg’s many retail and restaurant options near Route 199 and Interstate 64.

“With inflation and homes prices continuing to rise, there’s an expectation that high quality rental properties will remain in demand,” Dunton also told MHN. “Multifamily properties are also benefiting from the renter by choice cohort who prefer this lifestyle and want the flexibility that a lease affords.”

CONTINUING TO BOLSTER VIRGINIA PRESENCE

Despite the recent sale, Bonaventure is still building out its Virginia portfolio. The firm broke ground on a 271-unit luxury apartment community in April, which will be replacing a shuttered Sears location. The first move-ins are expected in 18 months, but the overall project will take two years.

Bonaventure is also still acquiring apartment communities throughout the state. In December, the firm acquired two Virginia apartment communities, a 94-unit community in Manassas and a 200-unit community in Virginia Beach.

VIEW ARTICLE ONLINE

May 9, 2022

The development of Attain at Spotsylvania Towne Centre is projected to have a significant economic impact on the Fredericksburg community. An impact study estimated that the project will create 388 new construction-related jobs and generate more than $1.15 million in real estate and other tax revenues annually.

Residents of Attain at Spotsylvania Towne Centre will have roximity to major transportation routes as well as the stores, restaurants and experiences offered by the Spotsylvania Towne Centre. Attain at Spotsylvania Towne Centre will feature a mix of high-end amenities including resort-style pool with pool deck, artificial turf recreational area, cabanas and outdoor kitchen, clubhouse, business center and fitness center.

SEE ARTICLE ONLINE

May 12, 2022

NORTH KANSAS CITY, Mo.–(BUSINESS WIRE)–Star Development, a fully integrated commercial real estate company with proven experience in development, acquisitions and management, and Bonaventure, an integrated alternative asset manager focused on the development, construction, and property management of innovative lifestyle multifamily communities in the Mid-Atlantic and Southeastern regions, today celebrated the groundbreaking of 23^rd & Swift, a Class A multifamily community located in North Kansas City, Missouri. Maxus Properties is an investor and will be handling property management for this project.

Liberty, Missouri-based Star Development is leading the development of 23rd & Swift and Bonaventure is overseeing the property’s design and construction. Star Development chose to partner with Bonaventure given the firm’s reputation as one of the country’s most prolific rental housing developers and its longstanding relationship with Jeff Price, leader of Bonaventure’s design team. The 294-unit property, which will feature a diverse mix of one- and two-bedroom apartments, will contribute to the area’s housing supply and help revitalize an underdeveloped stretch of land near downtown.

“As a lifelong resident of the Northland and for someone who was actually born at 20th & Swift in NKC, this is truly an exciting project and one that hits close to home,” said Tim Harris, Founder and Managing Principal of Star Development.

23^rd & Swift derives its name from its prime location on an approximately six-acre block bounded by 23^rd and 25^th avenues and Swift and Buchanan streets. Residents of 23^rd & Swift will enjoy easy access to major transportation routes and benefit from the property’s proximity to all the downtown area has to offer. In addition to its stunning exterior and interior design features, 23^rd & Swift will boast a number of high-end amenities including a pool, clubhouse, game and media rooms, fitness facility, coffee bar, and computer center. The property is expected to open during the summer of 2024.

“We are pleased to join forces with Star Development, one of the region’s most experienced and respected property developers, to deliver a truly transformational multifamily project,” said Dwight Dunton, founder and CEO of Bonaventure. “This mandate demonstrates the unique capabilities of our vertically-integrated platform, which has been continuously refined over two decades to effectively manage all parts of the development lifecycle. Whether we are managing a project’s full build or partnering with others, we are unwavering in our promise to deliver an exceptional living experience.”

With a long track record of creating value, Virginia-based Bonaventure is recognized among residents, investors, development partners, and townships for its operational excellence, creative vision and commitment to the communities it serves.

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May 9, 2022

The development of Attain at Spotsylvania Towne Centre is projected to have a significant economic impact on the Fredericksburg community. An impact study estimated that the project will create 388 new construction-related jobs and generate more than $1.15 million in real estate and other tax revenues annually.

Residents of Attain at Spotsylvania Towne Centre will have roximity to major transportation routes as well as the stores, restaurants and experiences offered by the Spotsylvania Towne Centre. Attain at Spotsylvania Towne Centre will feature a mix of high-end amenities including resort-style pool with pool deck, artificial turf recreational area, cabanas and outdoor kitchen, clubhouse, business center and fitness center.

SEE ARTICLE ONLINE