Behringer Harvard Opportunity REIT I Inc. provided the capitaland will pick up a 50% partnership interest when the projectsdeliver. The Dallas-based Behringer Harvard kicked in $8.1 millionfor the $38.3-million, 644-bed GrandMarc at Westberry Place at 2855W. Bowie St. on the Texas Christian University campus in Fort Worthand about $6.1 million for the $29.9-million, 649-bed GrandMarc atthe Corner at 307-321 15th St. beside the University of Virginiacampus. The projects are ticketed to roll within 30 days of theircompletion or by Aug. 15 into a joint venture pool betweenBehringer Harvard and the development duo, according to an SECfiling.

The mezz loans mature Feb. 25, 2008, bearing a 10% annualinterest accrual. The Toronto-based Brookfield and Dallas-basedPhoenix Property have the TCU project and Virginia developmentmortgaged through Charlotte, NC-based Wachovia Bank and KeyBank inCleveland, respectively.

Behringer Harvard didn't return telephone calls by press timeabout its inroad into the student housing arena. Last December, theinvestment group filed an SEC registration for a multifamily REIToffering that has yet to hit the market. And in recent weeks,Behringer Harvard Opportunity REIT I and its overseers inked acontract with Minneapolis-based Ameriprise Financial Services Inc.to sell nearly 54.6 million shares of common stock. The proposedprice is $10 per share for nearly 46.6 million shares and $9.50 pershare for the remaining eight million shares. The offering willcarry a minimum 200-share purchase when it hits the market,according to the SEC filing. The final prospectuses for bothofferings have yet to be filed with the feds.