BVT investment company very successfully sells apartment project development in Orlando, BVT Holding GmbH & Co. KG, press release

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– Narcoossee Cove development sold in southeast Orlando, Florida with 354 Class A apartments
– Narcoossee Cove development sold in southeast Orlando, Florida with 354 Class A apartments
– Sales proceeds significantly exceed forecast§ In 2021, BVT realized an exit volume of around half a billion US dollars through four successful sales

The BVT group of companies (“BVT”), Munich, specialist for investments in project developments in the US multi-family market, announces the sale of the project development “Narcoossee Cove” in Lake Nona in the southeast of the greater Orlando area, Florida with 354 class A apartments famous. The closing took place in mid-December 2021. The apartment complex is one of a total of five project developments of the closed special AIF BVT Residential USA 12 GmbH & Co. Closed Investment KG (“BVT Residential USA 12”). The apartment complex was sold to a global multi-family investment and management company for USD 143 million. The realized sales price was $43 million, or 41.9 percent above the June 2019 mid-case sales forecast.*

The “Narcoossee Cove” class A apartment complex, which has 37,000 square meters of living space and around 660 parking spaces, is located about ten miles southeast of downtown Orlando, directly on Lake Nona. Private access to the lake offers tenants of the complex several covered docks and water sports facilities. At the time of sale, the apartment complex had an exceptionally high occupancy rate of 99 percent. The sales price achieved of USD 143 million was USD 43 million higher and was around 41.9 percent and thus significantly above the sales forecast prepared in June 2019 . The property’s holding period was reduced by around 6 months to 29 months due to the favorable market development. Considered individually, an investor return of more than 33 percent pa based on the average equity invested in “Narcoossee Cove” could be achieved with this investment. That’s more than double the original mid-case forecast of 14.2 percent. *

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The “Narcoosse Cove” apartment complex is one of a total of five project developments of BVT Residential USA 12. The special AIF, which was launched in 2018 as a special AIF for professional and semi-professional investors and placed in April 2020, is currently still in the three “Huntington” project developments in the greater area Washington DC, as well as “Inner Belt” and “Residences on the Charles” in the greater Boston area. The “Lake Linganore” project development in Frederick/Maryland was successfully sold in the summer of 2021.

2021 Residential Exit Volume Exceeds $493M
“Narcoossee Cove” is the fourth apartment complex to be successfully sold in 2021, following the project developments “Maitland” in Orlando, “Lake Linganore” in the greater Washington DC area and “Tempo” in Boston. The four Class A complexes comprise 1,282 apartments, the sales prices achieved add up to over 493 million US dollars. With an average holding period of 38 months (29 – 50 months, depending on the property), an average interest rate of 21 percent pa* was achieved for investors.

Go to the BVT Residential USA series
As part of the BVT Residential USA series, 17 investment companies have been set up since 2004, which have developed or are developing 26 apartment complexes with a total of around 8,200 apartments with a total investment volume of 1.8 billion US dollars as of December 31, 2021. The public AIF BVT Residential USA 17 GmbH & Co. Closed Investment KG is currently being placed. New investment offers for institutional investors are in preparation.

*Past performance of one fund/AIF is not indicative of future returns of another fund/AIF. The total distribution relates to the subscribed contribution before tax deduction from capital gains and before taxation at the investor.

notice
This is a marketing ad. The products presented here are closed-end AIFs. The BVT Residential USA 12 GmbH & Co. Closed Investment KG is a closed special AIF for professional and semi-professional investors that is no longer marketed. A closed public AIF of the Residential USA series, namely BVT Residential USA 17 GmbH & Co. Geschlusse Investment KG, is currently being marketed. With an investment, the investor enters into a long-term commitment that is associated with risks. In particular, a deterioration in the market environment and rental rates in the market as well as a deterioration in the economic situation are possible. In addition, sales factors (cap rates) and real estate valuations may change in the future without the possibility of forecasting. There are typical project development risks, in particular the risk of a construction process or sale that does not correspond to the forecast. The investor makes equity available to the investment company, which can be consumed by losses. The participation can only be traded to a limited extent. There is a risk that the investor will not be able to sell his share or will not be able to obtain a price that is commensurate with its value. Because it is an investment in US dollars, the return may rise or fall as a result of currency fluctuations. The investor should therefore include all possible risks in his investment decision. The sales prospectus as well as the key investor information and the last published annual report contain a description of the main risks, which can be obtained in the current version – each in German and free of charge – in paper form from your investment advisor or from derigo GmbH & Co. KG, Rosenheimer Straße 141 h, 81671 Munich or can be accessed at www.derigo.de. A summary of the investor rights is available in German at www.derigo.de/Anlegerrechte.

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The investment company has not yet invested in a risk-mixed manner in the first 18 months after the start of sales.

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