BVT secures apartment project development near New York for Residential USA series

Munich, Germany (https://www.bvt.de – June 19, 2024) – BVT Group (BVT) announced that it has acquired a development site in Harrison, Westchester County, northeast of New York City, for one of its residential funds, structured under Luxembourg law (BVT LUX Invest S.C.S. SICAV-RAIF).

The project development "NRP Webb Avenue" is located in Harrison, Westchester County, New York. The project includes 200 Class-A apartments, planned as a five-story building complex. It features top-tier amenities such as a swimming pool, fitness center, home-working spaces, and lounges, as well as sufficient parking spaces. Additionally, 10 of the apartments will be offered at reduced rent, following the local market norms.

This project marks another significant investment for BVT's Residential USA series, known for high-quality residential developments in the US Multi-Family market. The estimated total investment volume for "NRP Webb Avenue" is around $100 million, with the fund contributing approximately $43 million in equity.

BVT’s managing director, Martin Stoß, emphasized the strategic value of this investment, highlighting Harrison’s excellent connectivity to New York City and its desirable suburban environment. He also emphasized that a LEED silver certification is planned, reflecting BVT’s commitment to sustainable building practices. The apartment complex will include solar panels and EV charging stations, with half of the site preserved as a nature area.