ALEXANDRIA, VA – Bonaventure Holdings LLC, a well-established alternative investment manager, launched Messenger Place DST, a 1031-exchange investment vehicle tied to a 94-unit Class A community located in historic downtown Manassas, Virginia. Messenger Place DST expands Bonaventure's 25-year track record in tax-deferred investment strategies to fully capitalize on the rapidly expanding multifamily real estate sector.
Messenger Place DST is a Delaware Statutory Trust offering that provides investors with fractional ownership in a high-quality multifamily property while deferring capital gains taxes through a 1031 exchange. The structure complements Bonaventure’s longstanding expertise in tax-advantaged real estate strategies.
Built in 2019, the Messenger Place luxury apartment community boasts a 95.7% occupancy rate and no debt. Outfitted with modern amenities and finishes, including on-site management, parking, a video entry system, stainless steel appliances, and granite countertops, the property attracts both young professionals and families seeking a suburban lifestyle. Located less than eighteen miles from Dulles International Airport, it offers easy access from Interstate 66. Its strategic location in Northern Virginia within the Washington D.C. metro area provides exceptional proximity to corporate and business centers, including expansions from Amazon's HQ2, Micron's extensive semiconductor operations, and rapidly growing data centers throughout the DMV region.
"Launching the Messenger Place DST leverages our long-standing and deep-rooted experience in structuring tax-sensitive solutions for sophisticated investors seeking sustainable, compounding returns," said Dwight Dunton, Founder and CEO of Bonaventure. "As the property’s owner and operator since 2021, the Bonaventure team offers investors significant risk reduction, ensuring strong operational performance and seamless execution."
Since 1999, Bonaventure has completed over 38 tax-deferred transactions, placing more than $515 million in equity. As of March 31, 2025, the firm owns, manages, or is developing multifamily assets with an aggregate value of approximately $2.6 billion and comprising 9,451 units. To date, Bonaventure has executed more than $3.35 billion in transactions.
In recent years, capital inflows into DST structures have surged, fueled by both increased sponsor sophistication and a tightening regulatory environment around other investment vehicles. DST fundraising reached $5.7B in 2024, and some industry analysts project continued robust growth, potentially reaching between $7B and $8B in 2025. According to Mountain Dell Consulting, DST volume in 2025 has already surpassed $3B. As of the end of May 2025, DST equity fundraising reached approximately $3.03 billion, representing a 56.6% year-over-year increase compared to the same period in 2024.
"Messenger Place DST represents a compelling core-plus investment that reflects Bonaventure's continued commitment to delivering institutional-quality, tax-deferred offerings," continued Dunton. "We are proud to expand our platform with a Class A asset in a high-demand submarket, reinforcing our legacy of helping investors preserve and grow wealth through strategic, tax-efficient real estate solutions."
According to CBRE, multifamily properties demonstrated strong momentum in Q1 2025, with investment volume reaching $28.8 billion, a 33% increase year-over-year and the highest quarterly total since 2022. The national vacancy rate declined to 4.8%, marking the most significant year-over-year drop for a first quarter on record. Strong demand, driven by elevated home prices, high mortgage rates, and evolving lifestyle preferences, continues to support stable fundamentals. Rent growth is forecast at 2.6% for 2025, with vacancy rates expected to remain below 5% through year-end.
Moreover, multifamily assets are historically more economically resilient than other real estate sectors, especially during periods of uncertainty. Because risk is spread across multiple units, periodic vacancies have less impact on overall income.
About Bonaventure: Bonaventure is a vertically integrated real estate investment firm specializing in multifamily assets across the Mid-Atlantic and Southeast regions. With over $2.6 billion in assets under management and a 25-year track record, Bonaventure provides investment opportunities built on performance, significant principal alignment, tax efficiency, and long-term compounding. Our owner/operator model, deep real estate expertise, and experience-backed decision-making empower investors to achieve stable returns and grow their wealth. Bonaventure's comprehensive capabilities span development, asset management, property management, and design, delivering solutions that meet the needs of high-net-worth individuals, RIAs, broker-dealers, and family offices. For more information, please visit bonaventure.com
About BMIT: BMIT is a Bonaventure-sponsored, actively managed, direct investment fund formed to acquire and manage institutional-quality apartment communities across the Mid-Atlantic and Southeast regions. As of March 31, 2025, the fund manages 22 properties totaling 4,142 units, with a gross asset value exceeding $1.2 billion.