The deal is an expansion of locally based Behringer Harvard'sties to Hunter Property Fund Management Ltd. of Edinburgh, England,the portfolio manager of the St. Wenceslas Property Fund. Theportfolio's size isn't available, but it is mostly retail with theheaviest concentration in Prague, Jason Mattox, Behringer Harvard'sexecutive vice president, tells GlobeSt.com. Other properties arelocated in Warsaw, Gdynia, also in Poland, and Brno in the CzechRepublic, with their European Union pushes underwriting the REIT'sinvestment strategy.

"We're betting on these economies largely," Mattox says. "Youhave growth in these economies that's considerably faster thanWestern Europe and they're now becoming part of formal Europe."

Mattox says the portfolio is 95% occupied. The assets were builtbetween 2003 and 2007, with the "vast majority" coming on line justlast year, he adds. The tenant roster includes well-known Europeanretailer Carrefour, UK-based Tesco, Royal Ahold of the Netherlandsand Plus, a discount foods division of Germany-based Tenglemann,which is in a merger play with Rewe, also from Germany. The leadindustrial tenant is Unomedical of Denmark, a global supplier ofmedical devices.