BETHESDA, MD — Two senior executives with Buvermo Investments based in Bethesda have spun off BVO Capital to focus on multifamily and commercial real estate development, investment, and property management in the Southeast, the Sunbelt, and the Washington, DC metro area.
Jim Lindsey and Kevin Woodley are managing partners of the new firm, BVO Capital, which is backed by Rinkelberg Capital, a London-based family office. BVO has offices in Bethesda, MD and Charlotte, NC.
“We’ve been incubating BVO Capital within Buvermo since 2020 and share a capital partner in Rinkelberg,” said Lindsey. “While Buvermo will continue to focus on real estate investments as a limited partner, BVO is a vertically integrated sponsor-operator.”
BVO’s emphasis on active adult, multifamily and build-for-rent reflects the long-term structural undersupply of housing in many U.S. markets, in particular high-growth Southeast and Sunbelt markets where in-migration has been even stronger.
BVO Capital launches with an ownership and property management portfolio that includes (5) active adult communities in Charlotte, Raleigh, and Myrtle Beach. BVO’s development pipeline includes an additional (6) communities. Most of the properties operate or will operate under the name Arden 55+ Living. Arden 55+ Living was founded in 2020 and to date has invested over $200 million with an additional $300 million in the pipeline.
“BVO Capital is a demographics driven investment and development firm,” Woodley said, “drawn to Sunbelt markets that will see long-term job growth and in-migration. These factors combined with an aging demographic reflect a long-term need, even with the short-term impact of multifamily deliveries, for conventional multifamily, built for rent, and active adult living.”
BVO’s initial market focus is on Charleston, Charlotte, Nashville, Raleigh, and Savannah in the Southeast and the Washington, DC metro in the Mid-Atlantic. “We know these markets and have experience investing in them,” Lindsey said.
Woodley added, “Despite the disruption in capital markets, there has been a relief in construction pricing and opportunities are crystallizing. Our development pipeline is robust, and we’re actively pursuing new development sites, third party management contracts, and acquisition of existing communities that meet our investment criteria.”
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