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Bonaventure Acquires Two Luxury Apartment Communities in Virginia, USA.

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Vincent

MANews-(C)2009-2021

US-based integrated investment asset manager Bonaventure has acquired two luxury apartment communities in Virginia, Messenger Place and Magnolia Run, the company said.

The two properties were acquired in separate off-market transactions.

To finance the acquisitions the company successfully closed an USD 85m Fannie Mae credit facility through KeyBank.

Bonaventure also drew from the flexible FNMA facility to refinance one of the company's previously owned properties, effectively giving the firm flexibility at the portfolio level, versus the property level, to lock in favorable interest rates, expand strategically, and build value for investors.

Bonaventure acquired two-year old Messenger Place from owner/developer, The Rector Companies, for USD 25.5m.

The luxury property is a five-story, 94-unit apartment community in Manassas, VA, offering one- and two-bedroom homes furnished with premium materials, finishes and appliances.

Boasting 3,000 square feet of ground floor retail and a partnership with market-leading Gold's Gym, Messenger Place is located in the heart of Old Town Manassas, within walking distance of the town's commercial district and a short drive to...

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