Bonaventure, a vertically integrated multifamily real estate investment firm, has launched Promenade Pointe DST, a 1031 exchange-eligible, class A multifamily property located in Norfolk, Va. The DST represents approximately $50.1 million in total capitalization, including $20.1 million in investor equity.
Since its founding more than 25 years ago, Bonaventure has specialized in the development, construction and property management of multifamily communities in the Mid-Atlantic and Southeastern regions. Promenade Pointe was developed by Bonaventure in 2013 and has continued to be the property’s owner-operator since 2014. The 183-unit property is part of Bonaventure’s approximately 9,000+-unit portfolio.
“In today’s volatile environment, 1031 investors are prioritizing assets that have a proven track record of stability, and stability isn’t built overnight,” said Mike Auerbach, head of tax deferral solutions at Bonaventure. “Today’s 1031 investors want r
