(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.