In a press release issued this morning, the common stock ispriced at $10 per share. In addition, up to 50 million shares ofcommon stock in its distribution reinvestment plan is available for$9.50 per share.

Dallas-based Behringer Harvard's specialty REIT is headed up byMark T. Alfieri, who joined the company in 2006 as COO to develop amultifamily investment group. The launch comes within weeks ofBehringer Harvard's series of promotionsby Robert Behringer, a move reflecting the significance of theoffice and multifamily sectors import to the operation and theleaders he's put in place.

An interview wasn't available by this morning's deadline. Themultifamily REIT was formed in August 2006. In an SEC filing, theREIT reported it owns joint venture interests in three mezzanineloans for affiliates of Fairfield Residential LLC, the guarantor ofthe three projects. The investment is $32.7 million at the end ofthe second quarter. Additional details about the REIT's IPO andinvestments will be detailed in a subsequent article.