• Skip to primary navigation
  • Skip to main content
  • Investor Login
  • Contact
Bonaventure logo in blue and gray

Bonaventure

We Create Assets

  • About
        • Who We Are

          Bonaventure is a vertically integrated real estate company specializing in investment management, architectural design, and development of multifamily rental properties.

        • About
        • Capabilities
        • Core Values
        • Meet The Team
  • Development
        • Turning Land Into Solutions

          Bonaventure turns land into solutions, realizing its full potential through the right mix of development, design, and construction.

        • Development
        • Land Acquisition
        • Joint Venture
  • Investment
        • Real Estate Investment Strategies

          Bonaventure offers integrated alternative asset management. We connect capital to great opportunities in the form of multifamily design, development, construction, investment, and asset management.

        • Investment
        • Investor Offerings
        • Tax Advantage Investing
  • Portfolio
        • Success Stories

          Our portfolio of projects demonstrates how we expertly create a range of assets with both land and investment capital.

        • Portfolio
        • Market Rate
        • Senior Living
        • Joint Venture
        • Pipeline
  • Newsroom
        • News and Press

          Read Bonaventure’s latest news, press coverage, and thought leadership.

        • Newsroom
        • Press Releases
        • In The News
        • Thought Leadership
  • Careers
        • Build your Career

          Browse career opportunities at Bonaventure and read more about our company culture.

        • Careers
        • Career Portal

jeffdashley

‘Hot, Scary And Exciting’: A Top HUD Developer On The State Of Multifamily

May 3, 2022 by jeffdashley

May 3, 2022

It has been a wild few years for the multifamily market. Despite fears that the pandemic would disrupt demand, the market experienced an unexpected resurgence in 2021, and experts are expecting this positive trend to continue well into 2022, with vacancy rates staying flat and rent growth remaining strong. 

“I would say the multifamily market is hot, scary and exciting all at once,” said Dwight Dunton, founder and CEO of Bonaventure, an integrated alternative asset manager specializing in design, property management and investment management of multifamily properties. “You’ve got renters who seem to be coming out of the woodwork in certain markets. You’ve also got investors targeting the market who are increasing their allocations or are brand new to it, and that creates excitement.”

Bonaventure has completed over $2.25B in transactions, $500B in housing and urban development loans and manages 5,848 units nationwide. Bisnow sat down with Dunton to get his thoughts on the state of this exciting, scary market, where he thinks demand is heading and what Bonaventure’s plans are for the future.

Bisnow: Can you say more about the state of the multifamily market? What about it is “scary”? 

Dunton: There’s a ton of activity throughout every part of the food chain from the activities at the property all the way through the operations and marketing, design, construction and land acquisitions. This is exciting, but it’s also scary, because what has historically been a slow and steady market is experiencing an amplification that no one’s ever seen before. At the same time, wage inflation is happening, products and services are in short supply, and on the construction side of the market, you’ve got real labor and materials shortages. 

Additionally, interest rates are accelerating ahead in a historic fashion, albeit from a very low point. And municipalities are still backlogged, trying to keep up with the things that they need to do to support their existing multifamily stock or the creation of additional housing. 

Bisnow: What are some of the biggest challenges the market is facing? 

Dunton: In many markets, there’s a palpable housing shortage, which is resulting in rents that are climbing at pretty unprecedented rates. And so the market has been challenged to meet the demand of consumers who now find themselves exposed to significantly higher rental rates than they were in the past. From the capital market side, with the rise in interest rates, it’s become harder to finance transactions, which is creating uncertainty in the financial markets around what cap rates are going to be in the future. 

On the construction side, the challenge is the availability of materials and labor to actually get buildings built. I heard someone say that the difference between building apartments versus a housing community is that building 300 homes is really a series of very short sprints — start a house, you can be done in 60 or 90 days — whereas building an apartment community is like planning a marathon that is going to last for two years. We’re having to make commitments today while guessing what the materials and labor markets will be two years from now. This was hard during very calm markets. Now we’ve got this in a very, very choppy sea, where there’s lots of volatility, and that’s making it even harder to predict where things will be.

READ FULL ARTICLE

Filed Under: Press Releases

Spotsylvania Towne Center Ground Breaking Ceremony

April 29, 2022 by jeffdashley

April 29, 2022

WATCH NOW: Groundbreaking Ceremony held for apartments at Spotsylvania Towne Centre.

Filed Under: In the News

Bonaventure Breaks Ground on 271-Unit APARTMENT Complex as Part of Mall Revitalization in Fredericksburg, VirginIA

April 28, 2022 by jeffdashley

April 27, 2022

FREDERICKSBURG, VA. — Bonaventure, in partnership with Cafaro Properties, has broken ground on Attain at Spotsylvania Towne Centre in Fredericksburg, located approximately 55 miles southwest of Washington, D.C. and 50 miles north of Richmond.

The 271-unit, Class A apartment development will replace a former Sears anchor store that closed in early 2020, furthering the revitalization of the Spotsylvania Towne Centre mall.

The apartment project will include amenities such as a resort-style pool, artificial turf recreation area, outdoor kitchen, clubhouse, business center and fitness center.

According to Bonaventure, the development of Attain is projected to create 388 new construction-related jobs and generate more than $1.1 million in real estate and other tax revenues annually. A timeline for completion and construction costs were not provided.

“As an experienced local developer that owns its assets for the long term, we are committed to delivering a rental housing experience that combines best-in-class architecture, amenities and service,” says Dwight Dunton, founder and CEO of Bonaventure. “We look forward to contributing both to Fredericksburg’s housing supply and the renaissance of this well-located property.”

Owned by Cafaro Co., Spotsylvania Towne Centre is home to numerous retailers and restaurants. Early last year, the Spotsylvania Board of Supervisors approved a request for 4.8 acres of the property to be rezoned from commercial to mixed-use, paving the way for the apartments to be built. The 1.3 million-square-foot mall first opened in 1980 and underwent a renovation project in 2009.

Alexandria, Va.-based Bonaventure is an integrated alternative asset management firm specializing in multifamily design, development, construction, investment and property management. The company manages more than 6,000 apartment units across 31 communities located primarily in the Mid-Atlantic and Southeast.

Cafaro is a retail developer based in Niles, Ohio. The firm has developed more than 30 million square feet across 14 states. Cafaro’s current portfolio encompasses over 50 properties.

SEE ARTICLE ONLINE

Filed Under: In the News

Bonaventure Breaks Ground on Virginia Luxury Community

April 27, 2022 by jeffdashley

April 27, 2022

Alternative asset manager Bonaventure has broken ground on Attain at Spotsylvania Towne Centre in Fredericksburg, Va. The 271-unit luxury apartment community will replace the shopping mall’s shuttered Sears store.

Bonaventure partnered with mall owner Cafaro Properties to repurpose the mall, which is one of Fredericksburg’s largest retail shopping centers.

The project’s completion is expected in two years, with first move-ins to take place in 18 months. The project’s total cost is projected to be $61.5 million, according to the announcement. Average rent across one-, two- and three-bedroom units at the development is expected to be $1,973.

The property’s residences will feature upscale interior design and state-of-the-art appliances, according to Bonaventure. An artificial turf recreational area will be among the amenities offered to residents.

Behind the project

“The project started out six years ago, when I drove by and saw a giant banner saying, ‘Land Available,’” Bonaventure founder and CEO Dwight Dunton told Multi-Housing News.

“First challenge was deciding what jurisdiction we wanted to build in,” Dunton said. “The mall footprint falls within both the city of Fredericksburg and the county of Spotsylvania. Depending on where we placed the property, we were dealing with differing zoning ordinances.”

Another obstacle Dunton encountered was the usable area’s small size. “While there were many acres of land available, when you overlaid the constraints—existing parking requirements for mall tenants, underground utilities like storm sewer and water crisscrossing the parcel—what remained was a very small envelope of about five acres to build on,” he said.

Looking forward, Dunton expects the most daunting hurdle will be the same one most projects face in the current economic climate: Procurement of materials and labor in an orderly manner at prices that can be forecast. “We got a head start on that, because we have our own internal general contracting firm,” Dunton said.

Attain at Spotsylvania Towne Centre’s development is expected to create 388 new construction-related jobs, while also producing more than $1.1 million in real estate and other tax revenues per annum. Last month, Bonaventure partnered with SNP Properties to acquire a stake in Vida East at Church Hill, an apartment community in Richmond, Va.

READ ARTICLE ONLINE

Filed Under: In the News

Bonaventure Breaks Ground on Attain at Spotsylvania Towne Center

April 26, 2022 by jeffdashley

April 26, 2022

ALEXANDRIA, Va.–(BUSINESS WIRE)–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, yesterday hosted the ground-breaking of Attain at Spotsylvania Towne Centre located in Fredericksburg, Virginia. The 271-unit Class A multifamily community will replace the former Sears store, providing local residents with additional high-quality housing and helping to advance the revitalization of the mall.

“We are excited to partner with Cafaro Properties to reimagine a large portion of Fredericksburg’s premier retail center to meet the needs of the community,” said Dwight Dunton, founder and CEO of Bonaventure. “As an experienced local developer that owns its assets for the long-term, we are committed to delivering a rental housing experience that combines best-in-class architecture, amenities and service. Creating exceptional living communities is what we do best, and we look forward to contributing both to Fredericksburg’s housing supply and the renaissance of this well-located property.”

Residents of Attain at Spotsylvania Towne Centre will enjoy not only the finest in interior design and state-of-the-art appliances, but also close proximity to major transportation routes as well as exciting stores, restaurants and experiences offered by the Spotsylvania Towne Centre. Attain at Spotsylvania Towne Centre will feature a mix of high-end amenities including:

  • A resort-style pool with pool deck
  • An artificial turf recreational area
  • Cabanas and outdoor kitchen
  • A clubhouse, business center and fitness center

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.

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

READ ARTICLE ONLINE

Filed Under: In the News

Bonaventure Rebrands Luxury Lifestyle Product as Attain

April 25, 2022 by jeffdashley

April 25, 2022

ALEXANDRIA, Va.–(BUSINESS WIRE)–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, announced today that it has rebranded Aura, its luxury lifestyle product, as Attain. The name Attain better reflects Bonaventure’s commitment to help its residents attain the highest level of comfort, belonging and happiness at its communities.

As a result of this strategic decision, all luxury multifamily communities in Bonaventure’s existing and future development pipeline will be delivered as Attain properties. Furthermore, as of April 30, 2022, Bonaventure’s four existing Aura-branded properties will begin operating under the Attain brand. Along with the name change, Bonaventure is introducing a new logo that closely aligns with its corporate brand as well as its senior living brand, Acclaim, creating a consistent and harmonious visual connection.

“Bonaventure has enjoyed sustained success over the past two decades because we consistently challenge the status quo to produce the best outcomes for our stakeholders,” said Christine Bentley, Senior Vice President of Operations. “Rebranding our luxury product is an outcome of this mentality and represents our strengthened commitment to attain our residents’ trust by consistently delivering a best-in-class experience. As we continue to grow, it’s more important than ever to ensure this value proposition is clear and that we have unity across our family of brands.”

Since its inception in 1999, Bonaventure has established itself as one of the most prolific multifamily developers and operators in the Mid-Atlantic region, and is currently expanding throughout the Southeast. Its portfolio includes a mix of affordable, luxury and senior living communities comprising more than 6,000 apartment units across 31 properties. Bonaventure currently has 11 properties under construction or close to completion, along with 35 projects across various stages of development. These communities are all linked by Bonaventure’s unwavering promise to deliver its residents an exceptional living experience.

READ ARTICLE ONLINE

Filed Under: In the News

  • « Go to Previous Page
  • Page 1
  • Interim pages omitted …
  • Page 10
  • Page 11
  • Page 12
  • Page 13
  • Page 14
  • Interim pages omitted …
  • Page 17
  • Go to Next Page »

209 Madison Street, 4th Floor
Alexandria, VA 22314

703-567-4590
Email Us
Media Inquiries

Investor Relations: 855-889-1778

Accounting: 443-975-5390, 980-800-5578

;

About

  • Capabilities
  • Core Values
  • Meet the Team
  • FAQs

Development

  • Land Acquisition
  • Joint Venture

Investment

  • Investor Offerings
  • Tax Advantage Investing

Portfolio

  • Investments
  • Development
  • Market Rate
  • Senior Living
  • Joint Venture
  • Pipeline

Newsroom

  • Press Releases
  • In The News
  • Thought Leadership

Information

  • Careers
  • Contact
  • Investor Log In
Instagram Icon
Facebook icon
LinkedIn Icon
Entrepreneurial Operating System Logo
Better Business Bureau Badge
Equal Housing Opportunity Logo

Copyright © 2025 Bonaventure Holdings. All rights reserved. | Privacy Policy | Terms of Use | Site Accessibility