BVT invests in apartment project development in Salem, Massachusetts.
Munich, Germany (https://www.bvt.de – October 18, 2023) – BVT Group (BVT) announced that it has acquired a development site in Salem, MA in the Boston metro area for its residential retail fund “BVT Residential USA 17”.
The closed-end public AIF BVT Residential USA 17 has acquired the project development "The Residences on Canal Street" in Salem, Massachusetts, around 25 miles northwest of Boston. The apartment complex is planned as an ensemble of five buildings, each with 3 to 4 stories. In addition to high-end apartments, it will also include typical Class A luxury amenities such as a swimming pool, clubhouse, smart offices and fitness room, as well as a generous number of parking spaces.
This marks the second and final investment for the fund after “The Exchange", a 300-unit project development near Atlanta, Georgia, closed in in 2022.