EX-99.1
2
a09-25588_1ex99d1.htm
EX-99.1
Exhibit 99.1
Behringer
Harvard Acquires Multifamily Community
in San Francisco's East Bay Area
DALLAS, September 9, 2009
- Behringer Harvard
announced today that it has acquired Waterford Place, a 390-unit multifamily
community at 4800 Tassajara Road in Dublin, California. Dublin is located
approximately 35 miles east of San Francisco near the intersection of
Interstates 580 and 680.
"Our
strategy is to take advantage of an investment environment that is providing
opportunities to acquire core assets at values well below replacement cost,"
said Mark T. Alfieri, chief operating officer of Behringer Harvard Multifamily
REIT I, Inc. "Waterford Place is a high-quality, stabilized multifamily
community that is 96.7 percent occupied (as of August 31, 2009). In
addition, Waterford Place is located in one of the most desirable cities in
Alameda County with close proximity to public transportation, employment,
shopping, restaurants and the attractions favored by a young, educated
workforce".
Residents
of Waterford Place benefit from many of the amenities typical of urban
live-work-play environments. The community, which consists of five four-story
apartment buildings, is immediately adjacent to The Shops at Waterford, an area
providing 125,000 square feet of retail including a grocery, restaurants and
other services. The Dublin/Pleasanton BART station, one of two BART stations
serving Dublin, is located approximately one mile from Waterford Place,
offering convenient light-rail service to Bay Area employment centers.
Built
in 2003, Waterford Place offers residents a selection of luxury one- and
two-bedroom apartments ranging from 599 to 1,367 square feet featuring kitchens
with granite counters, maple cabinetry and wood flooring. Ceilings nine feet
high, oversized windows and private deck or patio areas contribute to the light
and airy ambience. The extensive range of community amenities includes a
four-level parking garage with controlled access, heated resort-style pool and
spa, state-of-the-art fitness center, business center, conference room, home
theater room and recreation room.
Waterford Place is within
commuting distance, by highway or rail, to the international airports in
Oakland, San Francisco and San Jose that provide flights to business centers
around the world. Residents of Waterford Place also are less than three miles
away from major employers including AT&T, Oracle/PeopleSoft Corporation and
Sybase.
The
acquisition of Waterford Place was made through a joint venture of Behringer
Harvard Multifamily REIT I, Inc. (a publicly registered, non-listed REIT)
and PGGM Private Real Estate Fund, a vehicle for real estate investments for
large Dutch pension funds.
Including
this most recent investment, the portfolio of Behringer Harvard Multifamily
REIT I, Inc. includes investments in 12 multifamily communities that
represent more than 3,630 multifamily units in eight states.
About
Behringer Harvard
Behringer
Harvard is a commercial real estate company investing in assets domestically
and internationally. The company creates and manages strategic real estate fund
opportunities across a wide spectrum of investment styles for retail investors,
as well as domestic and international institutions, through its real estate
investment trusts, partnerships, joint ventures, and proprietary program
structures. For more information, call toll-free 866.655.3600 or visit
behringerharvard.com.
This release contains forward-looking statements relating to the
business and financial outlook of Behringer Harvard Multifamily REIT I, Inc.
that are based on our current expectations, estimates, forecasts and
projections and are not guarantees of future performance. Actual results may
differ materially from those expressed in these forward-looking statements, and
you should not place undue reliance on any such statements. A number of
important factors could cause actual results to differ materially from the
forward-looking statements contained in this release. Such factors include
those described in the Risk Factors sections of the offering documents for the
offering of shares of Behringer Harvard Multifamily REIT I, Inc.
Forward-looking statements in this document speak only as of the date on which
such statements were made, and we undertake no obligation to update any such
statements that may become untrue because of subsequent events. We claim the
safe harbor protection for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995.
Katie Myers
Jason
Mattox
Barbara
Marler
Richards Partners
Chief
Administrative Officer
Behringer
Harvard
katie_myers@richards.com
Behringer
Harvard
bmarler@behringerharvard.com
214.891.5842
jmattox@behringerharvard.com
469.341.2312
866.655.3600
# # #

EX - 99 . 1 2 a09 - 25588 _ 1ex99d1 . htm EX - 99 . 1 Exhibit 99 . 1 Behringer Harvard Acquires Multifamily Community in San Francisco 's East Bay Area DALLAS , September 9 , 2009 - Behringer Harvard announced today that it has acquired Waterford Place , a 390 - unit multifamily community at 4800 Tassajara Road in Dublin , California . Dublin is located approximately 35 miles east of San Francisco near the intersection of Interstates 580 and 680 . " Our strategy is to take advantage of an investment environment that is providing opportunities to acquire core assets at values well below replacement cost , " said Mark T . Alfieri , chief operating officer of Behringer Harvard Multifamily REIT I , Inc . " Waterford Place is a high - quality , stabilized multifamily community that is 96 . 7 percent occupied ( as of August 31 , 2009 ) . In addition , Waterford Place is located in one of the most desirable cities in Alameda County with close proximity to public transportation , employment , shopping , restaurants and the attractions favored by a young , educated workforce " . Residents of Waterford Place benefit from many of the amenities typical of urban live - work - play environments . The community , which consists of five four - story apartment buildings , is immediately adjacent to The Shops at Waterford , an area providing 125,000 square feet of retail including a grocery , restaurants and other services . The Dublin / Pleasanton BART station , one of two BART stations serving Dublin , is located approximately one mile from Waterford Place , offering convenient light - rail service to Bay Area employment centers . Built in 2003 , Waterford Place offers residents a selection of luxury one - and two - bedroom apartments ranging from 599 to 1,367 square feet featuring kitchens with granite counters , maple cabinetry and wood flooring . Ceilings nine feet high , oversized windows and private deck or patio areas contribute to the light and airy ambience . The extensive range of community amenities includes a four - level parking garage with controlled access , heated resort - style pool and spa , state - of - the - art fitness center , business center , conference room , home theater room and recreation room . Waterford Place is within commuting distance , by highway or rail , to the international airports in Oakland , San Francisco and San Jose that provide flights to business centers around the world . Residents of Waterford Place also are less than three miles away from major employers including AT & T , Oracle / PeopleSoft Corporation and Sybase . The acquisition of Waterford Place was made through a joint venture of Behringer Harvard Multifamily REIT I , Inc . ( a publicly registered , non - listed REIT ) and PGGM Private Real Estate Fund , a vehicle for real estate investments for large Dutch pension funds . Including this most recent investment , the portfolio of Behringer Harvard Multifamily REIT I , Inc . includes investments in 12 multifamily communities that represent more than 3,630 multifamily units in eight states . About Behringer Harvard Behringer Harvard is a commercial real estate company investing in assets domestically and internationally . The company creates and manages strategic real estate fund opportunities across a wide spectrum of investment styles for retail investors , as well as domestic and international institutions , through its real estate investment trusts , partnerships , joint ventures , and proprietary program structures . For more information , call toll - free 866 . 655 . 3600 or visit behringerharvard.com . This release contains forward - looking statements relating to the business and financial outlook of Behringer Harvard Multifamily REIT I , Inc . that are based on our current expectations , estimates , forecasts and projections and are not guarantees of future performance . Actual results may differ materially from those expressed in these forward - looking statements , and you should not place undue reliance on any such statements . A number of important factors could cause actual results to differ materially from the forward - looking statements contained in this release . Such factors include those described in the Risk Factors sections of the offering documents for the offering of shares of Behringer Harvard Multifamily REIT I , Inc . Forward - looking statements in this document speak only as of the date on which such statements were made , and we undertake no obligation to update any such statements that may become untrue because of subsequent events . We claim the safe harbor protection for forward - looking statements contained in the Private Securities Litigation Reform Act of 1995 . Katie Myers Jason Mattox Barbara Marler Richards Partners Chief Administrative Officer Behringer Harvard katie_myers@richards.com Behringer Harvard bmarler@behringerharvard.com 214 . 891 . 5842 jmattox@behringerharvard.com 469 . 341 . 2312 866 . 655 . 3600 # # #