<img src="https://ml.globenewswire.com/Resource/Download/3cb698f7-97c5-4bc0-9a1d-6f593d2a19df?size=2" nborder="0" align="left" hspace="5" vspace="5" title="Bonaventure_Logo_2022,_FULL_COLOR,_PNG.jpg" alt="Bonaventure"/>The 148-unit community completes a 1031 exchange and sits directly across the street from BMIT’s Parkway Apartments in Williamsburg, Virginia<div style="float:right;padding:0 0 15px 20px;margin:15px 0 20px 20px;width:300px">
 Colonial Towne Exterior
 <figure>
 <img src="https://ml.globenewswire.com/Resource/Download/727a4b2d-16d8-4f1c-9afe-fe998dd76f8a" title="Colonial Towne Exterior" alt="Exterior of several units in the Colonial Towne apartment community." />
 <figcaption>Exterior of several units in the Colonial Towne apartment community.</figcaption>
 </figure>
</div><div style="float:right;padding:0 0 15px 20px;margin:15px 0 20px 20px;width:300px">
 Colonial Towne Pool
 <figure>
 <img src="https://ml.globenewswire.com/Resource/Download/c4623767-1b16-423e-b49b-fe8c491e0be8" title="Colonial Towne Pool" alt="Pool and recreation area of the Colonial Towne apartment community." />
 <figcaption>Pool and recreation area of the Colonial Towne apartment community.</figcaption>
 </figure>
</div>ALEXANDRIA, Va., Nov. 11, 2026 <a href="https://www.globenewswire.com" target="_blank">(GLOBE NEWSWIRE)</a> -- Bonaventure, a vertically integrated real estate investment firm that specializes in multifamily assets across the Mid-Atlantic, Southeast, and select Midwest markets, announced today the acquisition of Colonial Towne, a 148-unit garden-style apartment community in Williamsburg, Virginia. Bonaventure Multifamily Income Trust (BMIT®), a REIT sponsored and managed by Bonaventure, acquired its interest through a 1031 exchange. “Bonaventure remains committed to disciplined multifamily investment in markets and submarkets where our scale, expertise, and longstanding relationships give the firm a clear advantage,” said Dwight Dunton, founder and CEO of Bonaventure. “This acquisition of Colonial Towne reflects our ability to deploy capital thoughtfully and expand our portfolio in places where we can create meaningful value for our residents, partners, and investors.” The acquisition of Colonial Towne was the second 1031 exchange replacement property BMIT purchased after selling Promenade Pointe. Earlier this year, BMIT acquired Royal Pointe Apartments in Virginia Beach and now Colonial Towne Apartments to complete the full 1031 exchange. “Using the remaining exchange proceeds from Promenade Pointe to acquire Colonial Towne allowed us to complete the 1031 exchange while putting that capital to work in a submarket where we already have a meaningful presence,” said Casey Macmaster, Senior Vice President, Investments &amp; Portfolio Manager, BMIT. “It is a good example of how we look to align capital allocation with our broader portfolio strategy.” Located at 327 Merrimac Trail, directly across from Bonaventure’s existing Parkway Apartments and about three miles from the Attain at Quarterpath community, Colonial Towne further strengthens Bonaventure’s operating presence in the Williamsburg submarket. The property offers one-, two-, and three-bedroom floor plans in two-story buildings, including townhome units with direct entry and garden-style apartments. Together, Colonial Towne and Parkway Apartments total 296 units, allowing Bonaventure to share on-site staff, maintenance, and vendor contracts across both communities. Community amenities include a swimming pool, on-site playground, laundry facilities, and additional storage. The property is a short drive from major area employers including Colonial Williamsburg, William &amp; Mary, and Busch Gardens, and has easy access to Interstate 64. Williamsburg has had no new apartment deliveries since the first quarter of 2025 and no units under construction, according to RealPage, as of November 2, 2026. Bonaventure has invested in Williamsburg for more than a decade. The firm developed Attain at Quarterpath, a 228-unit community completed in 2015 and now owned by BMIT, and Aura at Arbordale, a 289-unit community completed in 2020 and sold in 2022 for approximately $100 million. With Colonial Towne, Bonaventure’s Williamsburg portfolio totals 524 units across three communities. About Bonaventure Bonaventure is a vertically integrated real estate investment firm specializing in multifamily assets across the Mid-Atlantic, Southeast and select Midwest markets. With more than $3 billion in assets under management and a 26-year track record, Bonaventure combines deep real estate operating expertise with significant principal alignment, including more than $617 million invested alongside clients across its platform. The firm’s vertically integrated capabilities span development, asset management, property management, and design. With one of the industry’s largest HUD lending relationships and a predominantly fixed-rate, long-duration debt profile, Bonaventure is structured to manage risk across market cycles and to support investor objectives across income, tax efficiency, and long-term ownership of multifamily real estate. For more information, visit <a href="https://www.globenewswire.com/Tracker?data=FwNLysDT0MS1ckGkcbYT2jfbp4xOuqA-ZSHQPtwfu3frS-QjBMInj9n8ofS1bTv7pZ_oKcEYfDW2YfVnt63REjfjdQNDNf--VvcOJjxWqQg=" rel="nofollow" target="_blank" title="bonaventure.com">bonaventure.com</a>. Media Contact: Morgan Sweeney <a href="https://www.globenewswire.com/Tracker?data=4I_n_LFqzhziexAqxrEEoKp4VLhkx_-p9gg66LgSDV4sID6zwlp2do_Z0NZ5Ktx1rmfOslb1qozSLgxhrAMNni3_PICA22iHGsS415KDXCk=" rel="nofollow" target="_blank" title="morgan@akrete.com">morgan@akrete.com</a> Akrete Communications Photos accompanying this announcement are available at  <a href="https://www.globenewswire.com/Tracker?data=PSip7xvMneTHvefysowkQ2oaTGlMeAYKLOjSXvIG4g2gZPqdxNPBMVA3v6UXALiSKA6KAatrlLbqW3Ch7juerCQj8ZeevTfB51opNAzlUH3wMAB0KGeBigeu8nGX5vt5uYIZEl_-yexeK10Vl_EwgPMc2Ij3MCeJUSYM-HRtA1_eGGEZICCt7uB5GtK-GbrvdFeQjkFv8rRbe1LMovlioxJ-9zvEEdnPMPzY69V9vIQskS5KWnRUv33Aqm7OqknzeGaY-e3L5iPqG7CxpfUo8Q==" rel="nofollow" target="_blank" title="">https://www.globenewswire.com/NewsRoom/AttachmentNg/727a4b2d-16d8-4f1c-9afe-fe998dd76f8a</a> <a href="https://www.globenewswire.com/Tracker?data=PSip7xvMneTHvefysowkQ2oaTGlMeAYKLOjSXvIG4g2gZPqdxNPBMVA3v6UXALiSTs2Ry6FnwFcF_k7-5kbQ0ndZZeK_DZOJz4EMjZgQHdaAXNKtZ8XWj8n8R39tdVeJhejpPYRpbV1xBTfe-grQ_6IJz-dkR1_-cnDZ4WfERL5Lb93jBwqhh2_godlgRKZ-BgbEwcKt9g5i6_Pr2yNJOcNDcer8OZydfWssIdXvpkKcUfqPMTJUKi8RYm7FvYKBD_2wGsyXXrliewXtk-GYFA==" rel="nofollow" target="_blank" title="">https://www.globenewswire.com/NewsRoom/AttachmentNg/c4623767-1b16-423e-b49b-fe8c491e0be8</a> <img alt="" src='https://ml.globenewswire.com/media/N2M2OTBiY2MtZmU1MC00ODFmLTkwNGEtYjZiY2U5MTZlNWVhLTUwMDE1Njk1NS0yMDI2LTExLTExLWVu/tiny/Bonaventure.png' referrerpolicy='no-referrer-when-downgrade' />

GlobeNewswire Inc.

Bonaventure Multifamily Income Trust (BMIT®) Expands Williamsburg Portfolio with Acquisition of Colonial Towne

Latest news from the world of business and finance – both local and global

MONEY FM 89.3 is Singapore's first and only Business and Personal Finance station, featuring local and international business and financial news.

MONEY FM 89.3

Discover newsletters from our DJs on LinkedIn