Approximately a quarter of a million people live within a five-mile radius of Burrough's Mill. Notable employers within six to 10 miles of the complex include Subaru of America; TD Bank, NA; Melitta Coffee; Baxter Healthcare and Pinnacle Foods Corp. Mattox says the complex has a current occupancy of approximately 95%. Residences rent for an average of $1,450, or $1.40 a square foot.

While other property types languish, buyers are snapping up multifamily product. Mattox says that is because multifamily serves two growing demographic groups: the graduating Echo Boomers and their empty-nester parents. "From an investment perspective," he adds, "there has been constrained supply to date in this space. And if you look at the demographics, it really suggests that multifamily communities could be the recipient of very strong growth once we get through this current downturn."

In the Garden State, Behringer Harvard REIT I Inc. owns four office properties: the 119,772-square-foot Tice Building in Woodcliff Lake; 600 and 619 Alexander Rd. in Princeton, a two-building facility consisting of 97,447 square feet; and Woodcrest Corporate Center, a 333,275-square-foot complex, also located in Cherry Hill.