SAN DIEGO, CA – McKinney Capital & Naturally Affordable Housing held a groundbreaking ceremony for its workforce housing apartment building located at 4233 Kansas Street in North Park, San Diego.
North Park is one of San Diego’s oldest and most desirable neighborhoods, consisting of medium and lower-density urban development. The neighborhood has gone through gentrification over the last decade and is currently one of San Diego’s premier arts and entertainment districts. North Park was recently recognized by Forbes as one of the “Hippest Neighborhoods in America”.
Damian McKinney shared, “Our Kansas Street Workforce Housing development aims to help solve the lack of affordable housing for moderate-income working families and young professionals.”
The housing affordability gap in San Diego is among the highest in California, with the average household shelling out 35% of their income for housing and 25% of the population spending half of their income on rent. The City of San Diego has been identified as one of the least affordable cities in the United States. Local leaders have described this issue as the single greatest threat to our region’s economy. Approximately 70% of moderate-income households cannot afford home ownership, and more than 30% cannot afford rent. To accommodate San Diego’s growing population and continued economic development, housing production must meet both present and future demands. The Kansas Street Apartments are being built for San Diego working families earning the median household income.

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ALEXANDRIA, VA – Bonaventure, an integrated alternative asset manager focused on the development, construction, and property management of innovative lifestyle multifamily communities in the Mid-Atlantic and Southeastern regions, announced that it bought ownership in two multifamily properties in separate UPREIT transactions.
Through these separate strategic off-market buys, Bonaventure expands its footprint in Virginia with the additions of the 296-unit Pinnacle Apartments located at 600 Freeman Drive in Hampton; and the 185-unit Magnolia Chase Apartments located at 5700 Magnolia Chase Way in Virginia Beach.
We are pleased to become the new owner and manager of two exceptionally well-located, income producing multifamily communities in our home market, said Dwight Dunton, founder and CEO of Bonaventure. These acquisitions not only align with our Mid-Atlantic growth strategy, but they also further demonstrate Bonaventure s unique ability to engineer deals that offer superior flexibility and tax-advantaged benefits to our partners.
The additions of Pinnacle Apartments and Magnolia Chase Apartments bring Bonaventure s total number of lifestyle-centric properties in Virginia to 28. At Magnolia Chase Apartments, Bonaventure plans to buy 24 additional units that are currently under construction later this year. This property is situated adjacent to three other multifamily communities that Bonaventure currently owns and operates (The Cascades, Infinity at Centerville Crossing and Magnolia Run Apartments), providing it with significant scale in the quick-growing Hampton Roads submarket.
Details on the newly bought multifamily communities can be found below:
Pinnacle Apartments: Built in 2016, the mid-rise apartment community is located in the Coliseum Central neighborhood in proximity to I-64 and Peninsula Town Center. It offers one-two and three-bedroom units with high-end features and a wealth of amenities including a resort-style pool and 24-hour fitness center.
Magnolia Chase Apartments: Completed in 1999, the amenity-rich, garden-style luxury apartment complex features one-two and three-bedroom units as well as a pool and lounge area, 24-hour fitness center, playground and club house.
Since its inception in 1999, Bonaventure has established itself as one of the most prolific multifamily developers and operators in the Mid-Atlantic region, and is currently expanding throughout the Southeast. Its portfolio includes a mix of affordable, luxury and senior living communities.

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DALLAS, TX – Cove Capital Investments, a DST Sponsor Company specializing in debt-free Delaware Statutory Trusts (DSTs) and other investment offerings for accredited investors, announced it has completed the buy of a 159-unit, 130,128 square foot value-add multifamily community in the growing Dallas Fort-Worth area.
The investment will be part of the “Cove Dallas Multifamily 59 DST”, a Regulation D, Rule 506c offering, which will allow accredited investors to participate in the acquisition of a multifamily community with value-add potential located just 20 minutes from revitalized downtown Dallas that sees more than 135,000 employees on a daily basis.
“The Cove Dallas Multifamily 59 DST is an attractive apartment community in the Dallas Fort Worth region of Texas that provides investors the opportunity to participate in a debt-free DST investment that has the potential for making significant value. The previous owners recently invested more than $1.5 million in capital improvements to approximately 50% of the units. Now Cove Capital will continue to provide extensive renovations, including adding new quartz countertops, stainless steel appliances, upgraded plumbing and lighting fixtures and adding carports to cover approximately 100 cars,” said Dwight Kay, Managing Member and Co-Founder of Cove Capital Investments.
Built in 1983, the two-tale community features one-, two- and three-bedroom floorplans across 16 buildings. Common-area amenities include a swimming pool, a fitness center, a business center and laundry facilities.
According to Managing Member and Co-Founder, Chay Lapin, the Cove Dallas Multifamily 59 DST represents an brilliant example of a value-add DST investment opportunity for Cove Capital investors.
“As a proactive owner-operator, Cove Capital will be able to potentially provide value to our investors through implementing a renovation plot that includes upgrading both interiors and exteriors, and driving operational efficiencies to help maximize revenue potential,” said Chay Lapin, Managing Member and Co-Founder of Cove Capital Investments.
Located at 1255 West Pleasant Road, the community is roughly 15 miles south of downtown Dallas. Pleasant Creek sits in proximity of interstates 35 and 20, as well as Texas State Highway 342, offering access to several dining, shopping and entertainment options. Northrup Grumman Systems, Dallas Boss Truck Stop and FFE Logistics are some of the employers in the area.
Lapin continued, “The Cove portfolio now consists of more than 1.5 million square feet of multifamily, industrial, medical and net lease assets. We are thankful to the hundreds of loyal Cove clients as well as the many Broker Dealers, Registered Representatives and RIAs that have placed their trust in Cove Capital.”

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