BVT USA fund sells stabilized apartment project in Boston, MA

The development was one of five investments in BVT’s Residential USA 12 fund, which is managed by the in-house capital management company derigo GmbH & Co. KG. The fully leased property was sold to a US project developer and asset manager for USD 114 million in November 2024. Construction and leasing start of the property in spring 2020 fell squarely into the Covid pandemic, resulting in a longer than projected construction period and hold. Despite these tremendous challenges, the fund management achieved a project return of over 9% p.a. for its investors.