X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Read more on the debt and equity markets.)

DALLAS-Behringer Harvard has lowered the curtain on Opportunity REIT I Inc. after raising $530 million of gross offering proceeds in the past 27 months. The close-out also has brought a simultaneous SEC filing to jump-start Opportunity REIT II Inc., which is on the books as a $1-billion offering.

To date, Dallas-based investment group has acquired 15 institutional-grade properties in the US and the Bahamas with funds from Behringer Harvard Opportunity REIT I. In a press release about the milestone, founder and CEO Robert M. Behringer says the capital campaign “confirms that today’s individual investors understand and are attracted to the type of value-added and opportunistic real estate investments” that can be found in a majority of institutional portfolios.

Behringer Harvard’s Op REIT I targets existing and just-built assets with development, redevelopment or repositioning opportunities to achieve favorable returns when it’s time to exit. The REIT’s portfolio consists of nine institutional-grade office buildings, four class A multifamily properties, a mixed-use development and three hospitality properties, including the historic 1.2-million-sf Chase Park Plaza in St. Louis’ Central West End and Royal Island, a resort being that’s developed with Dallas-based Staubach Co. on more than 400 acres in the Bahamas.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.