Deal Flow Friday
Deal Flow Friday
Podcast Description
Every Friday, join us as we dive into the latest in real estate multifamily with David Moghavem, Head of East Coast Acquisitions at Trion Properties. David invites top experts who know the ins, outs, and trends shaping the real estate multifamily market across the nation!
Whether you’re a seasoned investor or just curious about where the next big opportunity might be, Deal Flow Friday brings you the weekly inside scoop on what’s hot, what’s not, and what to watch for in today’s ever-evolving real estate scene.
Podcast Insights
Content Themes
The podcast focuses on multifamily real estate investment, exploring themes such as market opportunities, financing strategies, insurance challenges, and economic predictions, with episodes that include discussions on rising interest rates, population growth in specific areas like Colorado Springs, and the resilience of the multifamily sector amidst current challenges.
Every Friday, join us as we dive into the latest in real estate multifamily with David Moghavem, Head of East Coast Acquisitions at Trion Properties. David invites top experts who know the ins, outs, and trends shaping the real estate multifamily market across the nation!
Whether you’re a seasoned investor or just curious about where the next big opportunity might be, Deal Flow Friday brings you the weekly inside scoop on what’s hot, what’s not, and what to watch for in today’s ever-evolving real estate scene.
In this episode of Deal Flow Friday, David Moghavem sits down with Dwight Dunton, Founder and CEO of Bonaventure, a vertically integrated real estate investment firm with over $2.9 billion in assets under management and 9,200 apartment units across the Mid-Atlantic, Midwest, and Southeast.
With 27 years of experience building Bonaventure, Dwight shares how the firm has carved out a unique niche in tax-efficient real estate investing, leveraging Delaware Statutory Trusts (DSTs), 1031 exchanges, and 721 UPREIT structures to help investors preserve wealth, defer taxes, and compound capital over the long term.
The conversation explores how DSTs and UPREITs are becoming increasingly attractive in today’s challenging multifamily environment, particularly for property owners facing declining valuations, loan maturities, and significant embedded tax liabilities. Dwight breaks down how these structures work, why demand is accelerating, and how Bonaventure is developing innovative financing solutions to help investors transition from direct property ownership into diversified real estate portfolios.
David and Dwight also discuss the importance of supply constraints versus economic growth when selecting multifamily markets, the advantages of long-term ownership over short-term investment strategies, and why market turbulence is creating new opportunities for well-capitalized operators.
Chapters:
00:00 Introduction to Bonaventure
04:11 Why Develop Multifamily When You Can Buy Below Replacement Cost?
07:30 Why Supply Constraints Matter More Than Job Growth
10:20 The Long-Term Hold Strategy: Five Years to Forever
13:07 Understanding DSTs, 1031 Exchanges & TIC Structures
18:21 How the 1031-to-721 UPREIT Strategy Works
21:14 Using 721 UPREITs as an Acquisition Advantage
23:44 Why Demand for DSTs & UPREITs Is Accelerating
26:14 Solving High-LTV Challenges With Innovative Gap Financing
31:12 Why Bonaventure Focuses on Family Capital
35:32 Advice for Operators Entering the DST & UPREIT Business
39:35 Opportunity Zones, DSTs & Bonaventure’s Growth Strategy
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