Sunday, October 1, 2023

Bonaventure Purchases Two Apartment Complexes In Hampton Roads

Sign up here for our free newsletter that tells you about the newest stories, three mornings each week.

[adrotate banner="8"]

Bonaventure, an Alexandria-based company that focuses on the development, construction, and property management of multifamily communities, recently announced it bought two separate apartment complexes in the Hampton Roads region.

On September 16, it was announced that Bonaventure acquired properties in Hampton as well as in Virginia Beach.

Bonaventure is now the owner of Pinnacle Apartments, a 296-unit complex located at 600 Freeman Dr. in Hampton. The development, first built in 2016, features one-, two-, and three-bedroom apartments near Coliseum Central.

In a separate transaction, the company also bought Magnolia Chase Apartments, located at 5700 Magnolia Chase Way in Virginia Beach. That development also has one-, two- and three-bedroom apartment options and opened in 1999. Bonaventure also plans to purchase 24 additional units currently under construction within the complex.

“We are pleased to become the new owner and manager of two exceptionally well-located, income producing multifamily communities in our home market,” said Dwight Dunton, founder and CEO of Bonaventure, in a statement. “These acquisitions not only align with our Mid-Atlantic growth strategy, they further demonstrate Bonaventure’s unique ability to engineer deals that offer superior flexibility and tax-advantaged benefits to our partners.”

Bonaventure, which was founded in 1999, now owns 28 properties in Virginia.

You must purchase this article or be a subscriber to comment on it.

Four Businesses Sign New Leases On The Peninsula

Four businesses are among those who recently signed new leases on the Peninsula. On June 21, Cushman & Wakefield | Thalhimer reported the following lease...

Getting To Know…Ben Munson, Broker With The Memorie Group

Ben Munson is a licensed real estate broker with The Memorie Group on Prince George Street in downtown Williamsburg. He also serves as president...

Not Yet Final On Vinyl: Williamsburg Weighs Whether to Change Historic Preservation Rules

WILLIAMSBURG–The city’s Architectural Review Board (ARB) has been engaged in a years-long process of updating its guidelines to give homeowners in certain districts more...

New Self-Storage Facility Coming To Stonehouse Commerce Park

JAMES CITY-A new self-storage facility is slated for upper James City County. On Friday, June 23, Cushman & Wakefield/Thalhimer announced the sale of roughly nine...