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.