Messenger PlaceMultifamily·Manassas, VASEC filing, Jun 16, 2025
$34.1M
$17.3M
51%Filed Jun 16, 2025
Sold out
Chapter 4
Who is behind this record?
Bonaventure is a principal-led, operator-first multifamily investment platform whose stated tax-advantaged strategy combines 1031 exchanges, Delaware Statutory Trusts, and 721 UPREIT structures. The sponsor reports a tax-efficient portfolio of 47 properties and 9,290 units across the Mid-Atlantic and Southeast, and states it has facilitated more than $1.6 billion of 1031 exchange value across 42 transactions. On June 29, 2026, Bonaventure announced that its Promenade Pointe and Messenger Place DST offerings had been fully subscribed and closed, together raising more than $54 million of equity from 86 investors. Its 2026 apartment acquisitions were made through Bonaventure Multifamily Income Trust.
Bonaventure describes itself as a principal-led, operator-first multifamily real estate investment platform focused on long-term compounding1. The sponsor states that its tax-advantaged multifamily strategy integrates 1031 exchanges, Delaware Statutory Trusts, and 721 UPREIT structures2, and reports a tax-efficient multifamily portfolio of 47 properties and 9,290 units across the Mid-Atlantic and Southeast3. Bonaventure further states that it has facilitated more than $1.6 billion in 1031 exchange value across 42 transactions, including $576 million of equity placed across those transactions with sponsor co-investment4.
The structure behind one of its trusts appears in the public record: a June 16, 2025 SEC filing for Messenger Place DST identifies the issuer as a Delaware entity organized in 2021, names Bonaventure MIT Operating Partnership as sponsor and operating partnership, and lists Bonaventure Holdings as an affiliate of both the issuer and the sponsor5. Bonaventure describes Bonaventure Multifamily Income Trust, the affiliated REIT used in its recent apartment purchases, as a perpetual NAV REIT investing in stabilized and value-add multifamily communities6.
Dated DST and acquisition activity
On June 29, 2026, Bonaventure announced the full subscription and closing of two multifamily DST offerings, Promenade Pointe and Messenger Place, reporting more than $54 million of equity raised from 86 investors7. Multi-Housing News reported on April 22, 2026 that Bonaventure had acquired the 208-unit Royal Pointe Apartments in Virginia Beach for $39.5 million through Bonaventure Multifamily Income Trust, in a transaction incorporating both a partial 1031 exchange and a 721 exchange8. On August 19, 2026, the firm announced that it had acquired an ownership interest in Crescent at Chevy Chase through the same trust and assumed asset management of the 111-home community, with terms undisclosed9.
Sponsor-reported realized outcomes
Bonaventure's realized track-record document covers multifamily acquisitions, ground-up developments, and LIHTC assets sold between 2004 and 2025, and the reported outcomes vary widely. Recent entries reported by the sponsor include Mason Avenue, sold in July 2025 after a 4.6-year hold at a 1.34x equity multiple and 8.0% annualized return; the Alate Old Town development, sold in March 2025 after a 3.2-year hold at a 0.60x equity multiple; and East Beach Marina, sold in March 2023 after a 3.2-year hold at a 1.45x multiple and 10.0% annualized return10.
Messenger PlaceYieldPRO republishes Bonaventure press release announcing full subscription of Messenger Place DST (94-unit Manassas property) and Promenade Pointe DST.
Bonaventure Gets to Work on Hampton Roads-Area ApartmentsBonaventure has broken ground on a new $85.3 million, 320-unit Class A multifamily community in Norfolk, Va., continuing the firm's Hampton Roads expansion that includes the Promenade Pointe waterfront community backing the Promenade Pointe DST.
Use the record as a starting point. Compare the current Programs, save offerings to your Watchlist, or ask a licensed specialist about the facts shown here.
