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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