Bonaventure Acquires Messenger Place and Magnolia Run Multifamily Properties in Virginia
December 20, 2021
Bonaventure acquired two luxury multifamily properties in Virginia—Messenger Place in Manassas and Magnolia Run in Virginia Beach—in separate off-market transactions financed via an $85 million Fannie Mae credit facility arranged by KeyBank. Messenger Place was purchased from owner/developer The Rector Companies for $25.5 million; Magnolia Run (200 units) was acquired for $52.1 million as part of Bonaventure's ongoing portfolio expansion in the Mid-Atlantic.
- Buyers
- Bonaventure
- Targets
- Messenger Place, Magnolia Run
- Sellers
- The Rector Companies
- Industry
- Real Estate
- Location
- Virginia, United States
- Transaction Type
- Buyout
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