(Read more on the multifamily market.)
ARLINGTON, VA-Bonaventure Realty Group, a local investor, hasteamed up with an institutional private equity firm to invest $200million in multifamily transactions in the Greater DC area as wellas certain markets along the Eastern Seaboard. The $200million--which represents planned total acquisition costs includingdebt--will be used to acquire properties that are value addopportunities, managing director Todd Harrison tellsGlobeSt.com.
The company already has some deals pending its pipeline, headds--about $30 million worth of transactions in the DC area andNorthern Virginia. These markets have traditionally beenBonaventure's main playing field. However the firm is graduallymoving outward in search of more opportunities. North Carolina andSouth Carolina, for example, are two other states it is going toconsider.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
