PGGM to invest up to $300m in Behringer Harvard U.S. multifamily platform (US/NL)

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

Related News