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Behringer Harvard Opens $75M Secured Line

DALLAS-Behringer Harvard Opportunity REIT I gets extra fuel for acquisition, development and capital improvements. The new credit facility is expandable to $150 million.

By Connie Gore | Updated on June 05, 2008

DALLAS-Behringer Harvard has gained $75 million of extra purchasing and development power for a fully funded $538-million opportunity REIT. The secured credit facility is expandable to $150 million.

“This credit facility puts our Opportunity REIT I in a strong position to continue pursuing its strategic goals for value creation,” Robert M. Behringer, founder and CEO of the Dallas-based investment group, says in this morning’s press release. The new fuel also will be used to fund the REIT’s cap-ex program in its 20-asset portfolio, a 1.9-million-sf mix of office, resort, student housing and mixed-use space plus its under-development land for residential and industrial projects.

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