Behringer Harvard has announced that Dutch pension fund PGGM has agreed to increase its investment in Behringer Harvard's growing portfolio of Class A apartment communities to $200 million. This amount reflects an additional $100 million over the initial $100 million PGGM committed to invest in Behringer Harvard's multifamily platform in May 2007. PGGM also has an option to expand its commitment to $300 million.
"Since partnering with PGGM in May, our multifamily team has completed, or is in the final stages of completing, transactions in 11 outstanding Class A apartment assets," said Robert M. Behringer, founder and CEO of Behringer Harvard. "We believe PGGM's decision to increase its investment in our platform is a testament to the quality of these properties, their geographic diversity and the unique approach we've developed to achieve exceptional pricing."
According to Mark Alfieri, Behringer Harvard's senior vice president