Offering size$20.1M
Asset typeMultifamily
LocationNorfolk, VA
FinancingLeveraged
Regulation D exemptionRule 506(c)
Sponsor-reported potential 721/UPREIT exitYes
First filedJan 21, 2026
Last filedJan 21, 2026
Minimum$100k
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 Private Placement Memorandum before investing.
Promenade Pointe DST is a Delaware statutory trust sponsored by Bonaventure holding Promenade Pointe, a 183-unit Class A waterfront multifamily community at 6115 Tidewater Drive in Norfolk, Virginia. Bonaventure developed the property in 2013 and has owned and operated it since 2014. The offering launched January 8, 2026 with approximately $50.1 million total capitalization, about $20.1 million in investor equity, and roughly 60% loan-to-value fixed-rate financing. Bonaventure announced full subscription on June 29, 2026, reporting $20.1 million raised from 45 investors. The trust is structured to support a 721 UPREIT exit.
60% LTV; ~$50.1M total cap; ~95% avg occ. since 2014; built 2013 by sponsor; raised $20.1M from 45 investors; closed Jul 2026
183 unitsBased on issuer-filed Form D notices through Jan 21, 2026. Amounts are self-reported, may lag current subscriptions, and do not confirm availability. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Reported sold as a percentage of stated offering amount51.0%
Not enough filing history for a trend line.
Capital sold, per latest Form D$10,330,176
Remaining amount reported in latest Form D$9,802,017
Investor count reported in latest Form D14
Stated minimum investment$100,000
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First filedJan 21, 2026
Latest filingJan 21, 2026
Filings tracked1
View filing on SEC EDGARForm D is an issuer notice filing. A filing does not mean the SEC approved, endorsed, or verified the offering.
Offering profile
SEC filings + cited sources
Property and operations
Promenade Pointe is a 183-unit Class A waterfront multifamily community at 6115 Tidewater Drive in Norfolk, Virginia. Bonaventure developed the property in 2013 and has owned and operated it since 2014, reporting approximately 95% average occupancy since 2014 and about 96% occupancy as of September 30, 2025, with in-place average rent near $1,879 1. Vestre Residential, Bonaventure's in-house property-management brand, operates the community, which markets one-, two-, and three-bedroom apartments with resort-style amenities and direct river access via a private dock 3.
Capitalization and financing
The trust represents approximately $50.1 million in total capitalization, including about $20.1 million in investor equity, financed with roughly 60% loan-to-value fixed-rate debt 1. Bonaventure launched the offering on January 8, 2026 as a 1031-exchange-eligible investment, describing the asset's 2013 vintage, podium construction, and flood-insured status 2.
Offering timeline
A Form D notice filed with the SEC on January 21, 2026 reported a total offering amount of $20,132,193 with $10,330,176 sold as of that date 4. On June 29, 2026, Bonaventure announced the full subscription and closing of Promenade Pointe DST alongside Messenger Place DST, together raising more than $54 million 5. Independent coverage by Connect CRE attributed $20.1 million in equity from 45 investors specifically to Promenade Pointe DST 6. Top1031's structured record classifies the offering as 721-exit-eligible under Bonaventure 7.
In the news
Frequently asked questions
Is Promenade Pointe currently active?
Promenade Pointe is classified by Top1031 as active. “Active” reflects the latest public record and does not confirm that interests remain available.
Where does Top1031 get the data for Promenade Pointe?
Top1031 tracks this offering from SEC Form D filings and cited sponsor disclosures. Filing data may lag current subscriptions and does not mean the SEC approved or verified the offering.