Promenade Pointe
Multifamily property in Norfolk, Virginia · sponsored by Bonaventure
Promenade Pointe is a DST sponsored by Bonaventure that owns a multifamily property in Norfolk, Virginia (183 units). Its latest Form D, filed Jan 21, 2026, lists a $20.1 million offering with a $100,000 minimum.
Key facts
- Minimum investment
- $100,000From the Form D
- Offering size
- $20,132,193Equity offered, per the Form D
- Sold so far
- Form D, Jan 21, 2026; the % is our arithmetic51.3%
- Investors reported
- Form D, Jan 21, 202614
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,811,898 · 9.0% of offering
- Financing
- Leveraged. This offering reports mortgage debt on the property.How it is financed ↓
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
Can I still invest?
No new interests: the offering is reported fully subscribed.
By Top1031’s calculation from the latest Form D, filed Jan 21, 2026, 51.3% of the offering had sold.
Other Bonaventure offerings on record
- Carlton at Greenbrier DSTChesapeake, VA · $100,000 minimum · $28,275,000 offeringActive offering · latest Form D Sep 24, 2026
- Aspire West End DSTRichmond, VA · $100,000 minimum · $32,000,000 offeringActive offering · latest Form D Aug 25, 2026
Availability changes without a filing. The sponsor or a registered representative can confirm what is open.
Looking for an offering like this one? A licensed 1031 specialist from our affiliated partner can talk through what is on record.
Ask a 1031 specialist about this recordFree. About: Promenade Pointe. Top1031 is not a broker-dealer.Promenade Pointe · Norfolk, Virginia · Photo: optimise2.assets-servd.host
What does Promenade Pointe own?
Bonaventure developed Promenade Pointe in 2013 and says it retained ownership and management after the community stabilized, so the operating history behind the Trust is the sponsor's own. 2 In announcing the close, the sponsor reported approximately 94% average occupancy over the preceding twelve years. 2 Public records reviewed do not establish a deed, transfer price, or date for the property's conveyance into the Trust.
- Property address
- 6115 Tidewater Dr, Norfolk, Virginia
- Property size
- 183 units
How have sales gone?
The Form D record has one sales figure so far, so there is no trend to chart. The figure is in Sales so far ↑.
How is it financed, and what did it cost to sell?
Mortgage debt sits alongside investor equity here — the arrangement that lets an exchanger replace debt carried on the property they sold. Bonaventure describes the financing as fixed-rate and put total capitalization at roughly $50.1 million. 3 No public filing reviewed names the lender.
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
- May convert to a REIT (721)
- Loan interest rate
- 5.29% fixed From Bonaventure’s offering documents (Dec 2025). As reported by the sponsor.
Costs and terms from the Form D
- Selling commissions
- $1,811,898 · 9.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $996,945 · 4.9% of offeringForm D Item 16· The filing’s note: “The Sponsor and its affiliates will receive reimbursements for loan-related costs of $316,537 + the Sponsor fee of $465,000 + other closing costs of $215,408.”
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Metric Financial, LLC · CRD 33324
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Jan 6, 2026
- Minimum investment
- $100,000
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.
What are the deal terms?
From Bonaventure’s offering documents (Dec 2025).
Your exit
- Can the sponsor's affiliate buy investors out?
- Yes, after 2 years
All investors must hold 2 years. No reply: REIT units
Rent and the bills
- Who pays rent to the trust?
- A master tenant affiliated with the sponsor
- Who pays for roof and structural repairs?
- Investors, through the trust
- Who pays if taxes or insurance go up?
- The tenant or master tenant
- Was the property bought from a sponsor affiliate?
- Yes
Your rights
- Can investors remove the manager?
- No
- How are disputes with the sponsor resolved?
- In court
Who's behind Promenade Pointe?
Bonaventure is an apartment developer, owner and manager concentrated in Virginia's Hampton Roads region, and at this property it is both builder and operator. 2 The Form D names Bonaventure MIT Operating Partnership LP as sponsor and operating partnership. 1 A 721/UPREIT exit — swapping the property into a REIT operating partnership for units rather than selling for cash — is described as an option into Bonaventure Multifamily Income Trust; none has been reported. On July 13, 2026 the firm broke ground on Attain at Newtown, a 320-unit Norfolk project.
- Sponsor
- Offerings on record
What does the SEC record show?
A Form D is an issuer-filed exemption notice, not a disclosure the SEC reviews, and the issuer reported January 6, 2026 as the date of first sale. 1 Nothing in the file amends it to record the June 2026 close, so the public filing record still reads as a raise in progress. 2
- Legal Trust name
- Promenade Pointe DST
- SEC CIK
- 2105900
- First Form D
- Jan 21, 2026
- Latest Form D
- Jan 21, 2026
- Filings on record
- 1
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D | $20,132,193 | $10,330,176 | 14 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Common questions
- Can I still invest in Promenade Pointe?
- No new interests: Promenade Pointe is reported fully subscribed. Top1031 lists it as recently fully subscribed and does not count it as an active offering.
- Does Promenade Pointe have a 721 UPREIT exit?
- The record lists a possible 721 exit for Promenade Pointe. It is an option, not a completed transaction; the offering documents set whether and when it can happen. In a 721 exchange, or UPREIT, the DST’s property is contributed to a REIT’s operating partnership and investors receive operating-partnership units instead of cash.
- How a DST-to-721 UPREIT exit works
- How big is the deal, and what did it raise?
- At launch on January 8, 2026 Bonaventure described approximately $50.1 million of total capitalization, including roughly $20.1 million of investor equity, with the balance mortgage debt. The stated minimum investment was $100,000.
- Who is the tenant?
- There is no single tenant. Promenade Pointe is a 183-unit apartment community, so revenue comes from residents on individual leases and vacancy is managed unit by unit rather than tied to one expiration date. No rent roll, lease terms, or management agreement was established in public sources; those documents sit with the sponsor and in the offering documents.
- Did the sponsor build this property?
- Yes, by its own account. Bonaventure says it developed Promenade Pointe in 2013 and retained ownership and management after the community stabilized. That differs from DSTs where a sponsor buys a stabilized building shortly before the offering: here the operating record presented is the sponsor's own at the same asset. Research turned up no deed, recorded transfer price, or documented date for conveyance into the Trust.
- What has the sponsor published about how the property operates?
- In its June 29, 2026 closing announcement Bonaventure reported approximately 94% average occupancy over the preceding twelve years. Trade coverage around the January 2026 launch cited occupancy in the 94% to 96% range — Connect CRE reported 94% average occupancy and IREI about 96%. These reflect different measurement windows rather than one consistent number, and none comes from an SEC filing or an audited statement in the public record.
- What do the public filings not tell me?
- The Form D is a short exemption notice. It does not name the lender, state loan terms or maturity, describe a hold period, disclose distribution terms, or explain how and when a 721/UPREIT contribution into Bonaventure Multifamily Income Trust could occur, and no amendment reflects the June 2026 close. Research also found no lease terms, deed, or recorded purchase price in reviewed public materials. Those items sit in the offering documents and the sponsor's closing documents.
In the news
Sources
Show sources (6)Hide sources (6)
These links support the record as a whole; individual details may come from different sources.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current offering documents before investing.