"These assets will allow our investors to diversifyinternationally by capitalizing on a superior location in thestrong Amsterdam/Sloten submarket," Behringer Harvard CEO RobertBehringer says in a release announcing the investment. HCI'smanagement expertise and local knowledge allow for "significantupside potential" of the 15-year-old structures, addsBehringer.

Based in Hamburg, HCI's cross-border experience in Europe hasenabled the firms to identify opportunities with development orvalue-added potential, Behringer Harvard principal Jason Mattoxtells GlobeSt.com. "They are our eyes and ears on the ground inthose markets, and we feel very confident in the acquisitions wehave made with them," says Mattox, whose firm had a previousrelationship with HCI prior to launching the fund in late 2006.

The partnership today is pursuing deals in the United Kingdomand Germany, and has also made other acquisitions in theNetherlands, including a five-story office building near the twojust purchased, plus a portfolio of seven assets in the Amsterdamsuburbs. Founded as a fishing village, Amsterdam has emerged in thenew millennium as one of Europe's leading business centers, servingas the headquarters of such major corporations as Ahold, AkzoNobel, Heineken and ING Group. "Amsterdam and the Netherlands isabsolutely a financial services capital," says Mattox, aided by askilled workforce of nearly 1.4 million people congregated near thecountry's capital city.