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Behringer Harvard Links 2012 Milestones to 2013 Strategies

Multifamily Will Continue To Play Big Investment Role
January 9, 2013
Robert S. Aisner, president and CEO of Behringer Harvard
Robert S. Aisner, president and CEO of Behringer Harvard
At Behringer Harvard, 2013 will look a lot like 2012 for two of its most active REITS.

"We will continue to focus - in 2013 and beyond - on expanding our investment program offerings in ways that address the evolving needs of both institutional and retail investors," said Robert S. Aisner, president and CEO of Behringer Harvard, citing the firm's joint venture with Prospect Capital Management to offer corporate debt and equity investments as one way the firm hopes to address the challenges presented by today's low-yielding fixed-income vehicles.

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"Our focus on real estate investment opportunities continues with our newly launched net lease platform and planned real estate investment trust program. These new strategies will focus on providing attractive levels of fixed income, targeting repeatable cash distributions and tax efficiencies," Aisner added.

A Behringer Harvard investment program that continued in its acquisition phase, Behringer Harvard Multifamily REIT I, made eight additional property investments during the first nine months of 2012. The Behringer Harvard Multifamily REIT I portfolio included investments in 48 multifamily communities in 14 states comprising 12,996 apartment homes. Among these assets, 12 involve development projects in various stages of construction, and two are stabilized properties that were acquired in 2012.

Behringer Harvard Multifamily REIT I continued to focus during 2013 on investments in the top 50 metropolitan statistical areas, with an emphasis on coastal and southern growth markets.

Behringer Harvard's largest REIT to date, Behringer Harvard REIT I became self-managed in late August 2012, which management believes will position the REIT for operational cost savings as well as structural flexibility that may facilitate a future liquidity event.

Behringer Harvard REIT I continued to focus on strengthening its balance sheet, improving occupancy and shedding selected assets. During the first nine months of 2012, the REIT sold five properties and exited two markets, leaving it with a portfolio of 52 assets totaling more than 20.6 million square feet of office space.

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