Bonaventure Multifamily Income Trust (BMIT®), a private real estate investment fund focused on high growth and risk-adjusted returns through megatrends like population migration and housing shortages, marks its third anniversary since launching on September 21, 2021.
In three years, BMIT® has delivered a 103.4% total return, with share prices rising from $10.00 to $17.63—an average annual growth of 20.72%. The fund also offers a monthly dividend yield averaging 5.5% of NAV. During this period, BMIT® has grown its portfolio to 20 properties totaling 3,790 multifamily units, driving total assets under management above $1 billion and a net asset value over $500 million.
Founder and CEO Dwight Dunton reflected on the fund’s trajectory: “We launched BMIT® amidst COVID challenges, aiming to create a resilient, high-performing real estate investment. Our results have exceeded expectations, showcasing the strength of our strategy and team.”
Focused on high-growth Southeast markets, including Virginia, Atlanta, Huntsville, and Tampa, BMIT® uses an UPREIT structure for tax-efficient 1031 exchanges, allowing investors to defer capital gains while diversifying. This tax-advantaged approach, says Dunton, is central to BMIT®’s value proposition.
The fund has introduced value-add initiatives, including a renovation of over 1,000 units and the launch of Internet Subway, Bonaventure’s own internet provider. These enhancements aim to boost property values and revenue while delivering a superior resident experience.
Looking ahead, BMIT® remains committed to acquiring value-add multifamily assets in high-potential markets. Dunton concluded, “Reaching this three-year mark is significant, but it’s just the beginning. We’re focused on accelerating growth, expanding our portfolio, and delivering strong, risk-adjusted returns for our investors.”
