BVT USA funds sell Class A apartment community “Midlothian” near Richmond, Virginia

It is BVT’s third sale this year in its Residential USA series, bringing BVT’s 2026 US residential sales volume to approximately $356 million (USD). Completed in 2024, “Bainbridge Midlothian” sits on approximately 25.8 acres in Chesterfield County, VA and comprises four residential buildings with studio, one-, two- and three-bedroom apartments averaging 1,017 sq ft. Amenities include a resort-style saltwater pool, 24-hour fitness center, clubhouse, co-working spaces, pickleball court, dog park and private wooded walking trails. The project was developed in partnership with The Bainbridge Companies under a single institutional mandate governed by Luxembourg law, with construction completed in 26 months (June 2022 to July 2024). Leasing exceeded budget in the six months prior to stabilization averaging 30 units per month over that time period, reaching stabilization within a year of delivery with minimal rent concessions. At approximately US$347,500 per unit, the sale marks Richmond’s highest price per unit for a market-rate multifamily asset to date in 2026. For the investor, a German pension fund, the investment achieved an annual return of over 10 percent on average invested equity (before taxes or withholding tax) and an equity multiple of 1.42. Past performance of one AIF is not indicative of future returns.

“The successful sale confirms our long-standing market presence and expertise in the USA, especially in our 50th year in this market,” said Martin Stoß, Managing Director of BVT Holding GmbH & Co. KG and Head of the US Real Estate division. “Further project sales are already in preparation.”