**Bonaventure Launches Waterfront Multifamily 1031 DST in Norfolk, Virginia**
Bonaventure, a multifamily real estate investment firm, has announced the launch of Promenade Pointe DST, a 1031 exchange-eligible, Class A waterfront multifamily property located in Norfolk, Virginia.
The Delaware Statutory Trust (DST) offering represents approximately $50.1 million in total capitalization, including $20.1 million in investor equity. Originally developed by Bonaventure in 2013, the firm has maintained its role as owner-operator of the property since 2014. Promenade Pointe is part of Bonaventure’s broader portfolio, which includes around 9,000 multifamily units.
“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.
Promenade Pointe consists of 183 apartment homes featuring open layouts and modern amenities. The property maintains an average occupancy rate of approximately 96%, supported by Bonaventure’s long-term ownership. Located directly on the river, the community also offers recreational amenities including private dock access for launching kayaks and other watercraft.
