Unique investment structure helps REIT break into Florida apartment market

With the purchase of a 260-unit Ruskin complex, Virginia-based Bonaventure expands into the state.

  • By Louis Llovio
  • | 4:30 p.m. March 28, 2023
  • | 0 Free Articles Remaining!
A Virginia development, construction and property management firm has bought the Shadetree Apartments in Ruskin for an undisclosed amount.
A Virginia development, construction and property management firm has bought the Shadetree Apartments in Ruskin for an undisclosed amount.
Complex website
  • Tampa Bay-Lakeland
  • Share

A Virginia-based Real Estate Investment Trust has moved into the Tampa Bay market with the purchase of an apartment complex in Ruskin.

Bonaventure, through an affiliated REI, bought the 260-unit Shadetree Apartments off of 19th Ave. NE near Interstate 75, according to a statement.

The purchase of the Ruskin apartment community was one of the three that Bonaventure announced Tuesday. The other two are in its home state, the Cedar Broad Apartments in Richmond and East Beach Marina in Norfolk.

 

Continue reading your article
with a Business Observer subscription.
What's included:
  • ✓ Unlimited digital access to BusinessObserverFL.com
  • ✓ E-Newspaper app, digital replica of print edition
  • ✓ Mailed print newspaper every Friday (optional)
  • ✓ Newsletter of daily business news
Subscribe

Already subscribed? Sign in.

Latest News

  • December 15, 2025
Lee Health CEO to step down
  • December 15, 2025
Credit union names market president for three counties in region
  • December 15, 2025
3 Polk County residents charged in $2M COVID fraud case
  • December 15, 2025
Pinellas artwork manufacturer completes $13.5M facility expansion

Sponsored Content