Alle on the Charles: BVT's Strategic Exit in Boston's Housing Market

BVT Group, a private equity firm based in Munich, has successfully completed the sale of a 204-unit Class A apartment project known as Alle on the Charles, located in Newton near Boston, Massachusetts. This project was part of BVT's Residential USA 12 Fund, managed by their subsidiary derigo GmbH & Co. KG. The transaction was finalized for USD 114 million in November 2024, with the property acquired by a US-based project developer and asset manager. The development, fully leased at the time of sale, faced prolonged construction and holding periods due to the impact of the COVID-19 pandemic, which began shortly after construction and leasing efforts were initiated in the spring of 2020. Despite these challenges, the investment yielded a return of over 9% per annum for BVT’s investors, marking a successful outcome for the firm’s investment strategy in turbulent times.