ALEXANDRIA, Va.--(BUSINESS WIRE)--Bonaventure Multifamily Income Trust (BMIT®), a perpetual life private real estate investment fund that targets outsized, risk-adjusted returns by leveraging megatrends such as population migration and lack of housing availability in desirable locations, today announced its third anniversary since the fund’s September 21, 2021 inception date.
Over the past three years, BMIT® has demonstrated strong performance, with a total return of 103.4%. The fund's share price has grown from $10.00 at launch to $17.63, representing an annual average growth rate of 20.72%. This growth is complemented by BMIT®'s monthly dividend rate that has averaged 5.5% of NAV since inception.
In the same period, BMIT has significantly expanded its portfolio to 20 properties comprising 3,790 multifamily units. This rapid growth, coupled with innovative tax-advantaged investment solutions, has driven total gross assets under management beyond $1 billion, with net asset value surpassing $500 million. These achievements underscore BMIT®'s rapid ascent and robust market position in the Mid-Atlantic and Southeastern United States.
Dwight Dunton, Founder and CEO of Bonaventure, commented on the fund's performance: "When we launched BMIT® during the challenges of COVID, our goal was to create a resilient, high-performing real estate investment vehicle that continuously identifies, refines and adapts it’s investment strategy through the economic cycle to capitalize on macroeconomic megatrends. The fund's performance over these first three years has exceeded our initial projections, reflecting both the effectiveness of our strategy and the dedication of our team."
BMIT®'s success is underpinned by its core capabilities and strategic approach to multifamily real estate investing. The fund specializes in identifying and capitalizing on positive asymmetric risk-reward investment opportunities in the southeastern United States, with a strong presence in Virginia and successful expansion into high-growth areas including the Atlanta, Huntsville, and Tampa metro regions. The fund utilizes an UPREIT structure which facilitates 1031 exchanges, providing investors with opportunities to defer capital gains taxes while diversifying their real estate portfolios.
"Our focus on tax-advantaged solutions has been and will continue to be a cornerstone of our investment strategy," Dunton explained. "These structures allow us to offer unique value to our investors while maintaining the agility to capitalize on attractive investment opportunities in our target markets."
BMIT® continues to innovate within the multifamily sector. The fund has implemented value-add initiatives across its portfolio, including preparation for the renovation of more than 1,000 units and the launch of Internet Subway, Bonaventure’s proprietary internet service provider. These initiatives showcase the fund's commitment to enhancing property values and creating additional revenue streams while providing an exceptional living experience for residents.
As BMIT® looks to the future, the fund remains committed to its strategy of acquiring multifamily assets with value-add improvements in core-plus locations. "Crossing the three-year milestone is significant, and we're proud of what we've built," Dunton added. "But this is just the beginning. We're focused on accelerating our growth, further expanding our portfolio and continuing to deliver outsized risk-adjusted returns for our investors."
About BMIT®
For more information or to invest directly into the fund visit bonaventure.com or email us at investor@bonaventure.com.
