Bonaventure, SNP Properties Partner Up for Richmond Multifamily Ownership Interest
Alexandria, VA-based Bonaventure has formed a strategic partnership with Richmond, VA-based SNP Properties, LLC, to acquire ownership interest in Richmond’s Vida East Apartments as part of an UPREIT transaction.
“In arranging the transaction this way, SNP exchanged ownership in Vida East in a tax advantaged manner for interests in a diversified and growing portfolio of multifamily properties,” said Dwight Dunton, Bonaventure founder and CEO.
Vida East Apartments is located within walking distance of restaurants, galleries, museums, shops and parks in Richmond’s Church Hill neighborhood. The 2018-completed core plus, stabilized apartment community has 178 units, a rooftop mezzanine with fire pit, controlled access building and parking garage, skyline entertainment lounge, swimming pool and sundeck and fitness center. Bonaventure has more than 6,000 apartment units across 26 communities. Since its founding in 1999, the company completed $500 million in HUD loans and over $2.25 billion in transactions.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.