Bonaventure Raises $54M for Two Virginia Multifamily Properties
By Greg Cornfield June 29, 2026 4:15 pm
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A multifamily investment firm has closed two financing vehicles that combine for $54.2 million for two Class A apartment developments in Virginia.
Bonaventure announced Monday that 86 investors committed equity to two Delaware Statutory Trust offerings, which are investment structures that allow multiple investors to own fractional interests through a trust rather than owning a property directly.
Bonaventure acquired the first property, Messenger Place in Downtown Manassas, Va., for $25.5 million in 2021, two years after it was completed. The 94-unit multifamily community is 95.7 occupied, and it raised $34.1 million from 41 investors.
Bonaventure developed the second property, Promenade Pointe, about four miles north of Downtown Norfolk, in 2013. The 183-unit waterfront community is 94 percent occupied, and it raised $20.1 million in equity from 45 investors.
“Different investors need different paths, and the right structure depends on where someone is in their life and their portfolio,” Casey MacMaster, senior vice president at Bonaventure, said in a statement. “Some are completing a 1031 exchange; others are seeking diversification or a step toward long-term ownership.”
Alexandria, Va.-based Bonaventure has more than $2.9 billion in assets under management. Earlier this year, CEO and founder Dwight Dunton sat down with Commercial Observer to discuss his firm’s business strategies and what separates the company from other multifamily owners and operators.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
