ALEXANDRIA, Va., Jan. 08, 2026 (GLOBE NEWSWIRE) — Bonaventure, a vertically integrated multifamily real estate investment firm, has launched Promenade Pointe DST, a 1031 exchange-eligible, Class A waterfront multifamily property located in Norfolk, Va. The DST represents approximately $50.1 million in total capitalization, including $20.1 million in investor equity.
Since its founding 25+ years ago, Bonaventure has specialized in the development, construction and property management of multifamily communities in the Mid-Atlantic and Southeastern regions. Promenade Pointe was developed by Bonaventure in 2013, and has continued to be the property’s owner-operator since 2014. The 183-unit property is part of Bonaventure’s approximately 9,000+-unit portfolio.
“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. “Today’s 1031 investors want real estate assets that are built to last, operate efficiently, and allow them to preserve wealth without the burden of active management.”
Stability is central to the Promenade Pointe DST offering. The asset is positioned within a supply-constrained market and supported by fundamentals that reinforce long-term performance and cash flow stability. Key asset attributes for investors include: operational stability, prime location and amenities and compelling market dynamics.
Operational Stability
The property maintains approximately 96% average occupancy, supported by long-term sponsor ownership and a stable on-site management team that includes a property manager who has been on-site for six years. The DST offering is further strengthened by a conservative capital structure of 60% loan-to-value, which provides a predictable cash flow for 1031 investors.
From a physical structure standpoint, the property was designed with resilience in mind and features a podium construction design that elevates living spaces above grade level. In addition, full flood insurance coverage and no history of flood events lower investors’ CapEx exposure.
Prime Location and Amenities
The property is located in the Norfolk, Va. submarket, which is home to approximately 1.8 million residents. Its proximity to major expressways and downtown Norfolk provides residents with convenient commuting options. The market is bolstered by a strong labor market in the healthcare, logistics and government sectors.
The Class A community comprises 183 apartment homes with open layouts and high-quality finishes, complemented by lifestyle amenities that include a saltwater pool, cabana lounge, fitness center and business center. The property offers residents direct river access and a private dock for launching kayaks and other recreational uses.
Compelling Market Dynamics
The property sits within a supply-constrained multifamily market with limited new construction expected – only about 12,000 units are scheduled to deliver in 2026. On the demand side, consistently high occupancy is driven in part by a stable renter base of long-term military tenants who receive housing assistance.
“Promenade Pointe DST doesn’t require 1031 investors to buy into a projection – it offers participation in a community that has already proven itself. When strong fundamentals support a place people genuinely want to call home, performance follows,” said Auerbach.
For more details on the offering and a tour of the property, click here.
About Bonaventure
Bonaventure is a vertically integrated real estate investment firm specializing in multifamily assets across the Mid-Atlantic and Southeast regions. With over $2.8B in assets under management and a 25-year track record, Bonaventure offers investment opportunities built on strong investment performance, significant principal alignment, tax efficiency, and long-term compounding. Our owner/operator model, deep real estate expertise, and experience-backed decision-making empower investors to achieve stable returns and grow their wealth. Bonaventure’s comprehensive capabilities span development, asset management, property management, and design, delivering solutions that meet the needs of high-net-worth individuals, RIAs, broker-dealers, and family offices. For more information, please visit bonaventure.com.
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