Bonaventure Plans $200M Acquisition Spree

(Read more on the multifamily market.)

ARLINGTON, VA-Bonaventure Realty Group, a local investor, has teamed up with an institutional private equity firm to invest $200 million in multifamily transactions in the Greater DC area as well as certain markets along the Eastern Seaboard. The $200 million–which represents planned total acquisition costs including debt–will be used to acquire properties that are value add opportunities, managing director Todd Harrison tells GlobeSt.com.

The company already has some deals pending its pipeline, he adds–about $30 million worth of transactions in the DC area and Northern Virginia. These markets have traditionally been Bonaventure’s main playing field. However the firm is gradually moving outward in search of more opportunities. North Carolina and South Carolina, for example, are two other states it is going to consider.