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WALTON WESTPHALIA DEVELOPMENT CORPORATION SIGNS LETTER OF INTENT WITH BONAVENTURE REALTY GROUP TO DEVELOP WESTPHALIA TOWN CENTER APARTMENT SITE

View Full Release, 2017/01/23

CALGARY, Alberta--(BUSINESS WIRE)--Walton Westphalia Development Corporation (the “Corporation”), the developer of Westphalia Town Center in Prince George’s County, Maryland announced today the signing of a Letter of Intent with Bonaventure Realty Group, LLC (“Bonaventure”) to construct and manage a 250-unit apartment project at Westphalia Town Center. The agreement includes the option to construct an additional 150-unit project in a future phase.

“We are pleased to have signed the Letter of Intent with Bonaventure Realty. Dwight and his team are well-respected and will help us further our goal of offering a distinctive living experience for those looking for quality, value, and amenities in Westphalia”

“We are excited to be a part of Westphalia Town Center,” said Dwight D. Dunton III, President and CEO, Bonaventure (www.bonaventure.com). “It is the premier community in Upper Marlboro. We look forward to adding to the excitement the community is bringing to Prince George’s County.” Bonaventure is a real estate services provider executing best-in-class solutions within the multifamily sector. They manage, develop, and finance multifamily communities across 4 states and 28 properties.

Westphalia Town Center is a dynamic community that blends an urban feel with a suburban setting located only minutes from the Capital Beltway. The apartment project will bring additional housing options to Westphalia Town Center that will complement the existing townhomes being constructed by Haverford Homes, Ryan Homes and Mid-Atlantic Builders – three of the top homebuilders in the Washington, DC metro area.

“We are pleased to have signed the Letter of Intent with Bonaventure Realty. Dwight and his team are well-respected and will help us further our goal of offering a distinctive living experience for those looking for quality, value, and amenities in Westphalia,” said Bill Doherty, CEO of the Corporation and Chief Executive Officer of Walton Global Investments Ltd.