Updated Sep 8, 2026
Bonaventure Receives $141.9M Construction Loan For 612 Apartments In Chesapeake And Chester, VA
1553 River Birch Run North & 6805 Greenyard Road
$141,900,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 3, 2026
About this deal
AI
This transaction involves a multi-family asset spanning 9.6 acres, located at 1553 River Birch Run and 6805 Greenyard Road in the Chesapeake and Chester, Virginia markets. The total loan amount secured for this property amounts to $141,900,000, categorized as a construction loan.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $141,900,000
- Loan Type: Construction
- Landlord: Bonaventure
- Market: Chesapeake & Chester, VA
- Brokers: Chris Rumul, Jason Silva, Cole Parker & Mike Valucci - Walker & Dunlop
Walker & Dunlop facilitated nearly $142 million in HUD financing for Bonaventure, which is earmarked for the development of 612 market-rate apartments across the two specified Virginia communities.
Players
Chesapeake MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93