Click here to close now.

Welcome!

.NET Authors: Elizabeth White, Pat Romanski, Liz McMillan, Jaynesh Shah, Carmen Gonzalez

News Feed Item

Behringer Harvard Links 2012 Milestones to Strategies for Future Growth

DALLAS, Jan. 8, 2013 /PRNewswire/ -- Mr. Robert S. Aisner, President and CEO of Behringer Harvard, summarized today the key milestones achieved by the firm in 2012 and their anticipated role in the company's strategic growth in 2013 and beyond.

(Logo: http://photos.prnewswire.com/prnh/20050907/DABEHHARLOGO)

"During 2012, we deepened our management bench and expanded our capacity to offer innovative investment opportunities by partnering with best-in-class providers of specialized services and related expertise," said Mr. Aisner. "For example, our joint venture with Prospect Capital Management LLC will enable us to offer corporate debt and equity investments that address the challenges presented by today's low-yielding fixed-income vehicles."

"Our focus on real estate investment opportunities continues with our newly launched net lease platform and planned real estate investment trust program. These new strategies will focus on providing attractive levels of fixed income, targeting repeatable cash distributions and tax efficiencies," Mr. Aisner added. "I believe these and other initiatives we will pursue during 2013 are paving the way to help us meet the evolving needs and objectives of investors."

Addition of Key Personnel

The addition of key personnel in 2012 demonstrates Behringer Harvard's commitment to the industry and to its shareholders. As previously announced, Mr. Michael O'Hanlon, a seasoned industry veteran, assumed leadership of the company's opportunity platform.

Our distribution platform, under the direction of Mr. Frank Muller, hired Mr. Mark Petersen to direct the company's retail distribution strategies. Mr. Muller also hired two institutional sales directors: Mr. Michael Davis, who serves the eastern region, and Mr. Casey Herren, who serves the western region. These two executives are expanding the firm's capability to provide innovative alternative investments to family offices, high-net-worth investors and pension plans.

Additional new hires in 2012 strengthened and diversified the firm's distribution platform by expanding the company's due diligence and national accounts teams. These personnel include Mr. Patrick Jez and Mr. Roland Quast.

Also, Mr. Brad Watt came aboard to launch the firm's net leasing platform. This new capability will be expanded into both retail and institutional channels.

Continued Investments and Program Innovations

"We continued to innovate in 2012 in ways that are enhancing and extending our investment program offerings and expanding our capital sources and distribution channels," Mr. Aisner concluded. "We will continue to focus – in 2013 and beyond – on expanding our investment program offerings in ways that address the evolving needs of both institutional and retail investors. Leveraging our entrepreneurial legacy, our goal is to offer innovative products that provide enhanced options for allocating capital, managing risk and diversifying assets while introducing different streams of income and return to investors."

Behringer Harvard Multifamily REIT I, Inc.

A Behringer Harvard investment program that continued in its acquisition phase, Behringer Harvard Multifamily REIT I, Inc. made eight additional property investments during the first nine months of 2012. The Behringer Harvard Multifamily REIT I, Inc. portfolio included investments in 48 multifamily communities in 14 states comprising 12,996 apartment homes, as of September 30, 2012. Among these assets, 12 involve development projects in various stages of construction, and two are stabilized properties that were acquired in 2012.

Behringer Harvard Multifamily REIT I, Inc. continued to focus during 2012 on investments in the top 50 metropolitan statistical areas, with an emphasis on coastal and southern growth markets. Performance of this REIT's property assets was strong in the first nine months of 2012, with total rental revenue increasing by 23 percent compared with the first nine months of 2011. This REIT will continue to focus in 2013 primarily on new development projects, where yields are expected to be comparatively more attractive as cap rates compress for highly amenitized multifamily communities in core growth markets.

Behringer Harvard REIT I, Inc.

Behringer Harvard's largest REIT to date, Behringer Harvard REIT I, Inc. became self-managed in late August 2012. This is expected to position the REIT for operational cost savings as well as structural flexibility that will facilitate a future liquidity event.

Behringer Harvard REIT I, Inc. continued to focus on a business plan that includes strengthening its balance sheet, improving occupancy and strategically disposing of selected assets. During the first nine months of 2012, the REIT reduced its geographic footprint by disposing of five properties and exiting two markets. These activities are expected to reduce leverage requirements and strengthen the balance sheet over time, further positioning the REIT for a liquidity event. This REIT owned and managed a portfolio of 52 assets, representing more than 20.6 million square feet of office space, as of September 30, 2012.

The business unit responsible for property management of Behringer Harvard's office assets was recognized for excellence again in 2012. The BOMA 360 Performance Program, sponsored by the Building Owners and Managers Association (BOMA) International, evaluates properties in six major areas to benchmark the performance of a specific property against industry standards. About half the company's office portfolio has been awarded the BOMA 360 designation. Behringer Harvard also was included on the "Best of the Best" list published by Midwest Real Estate News in the property management and property owner categories.

About Behringer Harvard

Across all its investment platforms through the third quarter of 2012, Behringer Harvard had investments in or managed more than 37.5 million square feet of properties of all types. These assets included approximately 24.7 million square feet of office/industrial/retail space, 14,735 apartment units, 1,539 hotel rooms and 792 acres of land for development, employing more than 600 people across the United States and Europe.

Some Behringer Harvard investment programs in later phases of their life cycles continued to respond to economic challenges. However, operating results improved on several fronts. For example, through the first nine months of 2012, Behringer Harvard Opportunity REIT I, Inc. increased its liquidity nearly fourfold, reduced debt by approximately 30 percent and replaced much of the remaining debt at a lower interest rate.

Behringer Harvard creates and manages global institutional-quality alternative investment programs for individual and institutional investors. Programs sponsored and managed by the Behringer Harvard group of companies have attracted equity of more than $6 billion and made investments into more than $11 billion in assets. For more information, contact our U.S. headquarters toll-free at 866.655.3600 or our European headquarters at 011 49 40 34 9999 90, or visit us online at behringerharvard.com.

This release contains forward-looking statements relating to the business and financial outlook of Behringer Harvard Multifamily REIT I, Inc. and/or Behringer Harvard REIT I, Inc. and/or Behringer Harvard Opportunity REIT I, Inc. and/or Behringer Harvard Opportunity REIT II, Inc. that are based on our current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. A number of important factors could cause actual results to differ materially from the forward-looking statements contained in this release. Such factors include those described in the Risk Factors sections of the offering documents for the offering of shares and/or the Annual Reports on Form 10-K for the year ending December 31, 2011, for Behringer Harvard Multifamily REIT I, Inc.; Behringer Harvard REIT I, Inc.; Behringer Harvard Opportunity REIT I, Inc.; and Behringer Harvard Opportunity REIT II, Inc., each as supplemented in Quarterly Reports on Form 10-Q. Forward-looking statements in this document speak only as of the date on which such statements were made, and we undertake no obligation to update any such statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

 

SOURCE Behringer Harvard

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
The worldwide cellular network will be the backbone of the future IoT, and the telecom industry is clamoring to get on board as more than just a data pipe. In his session at @ThingsExpo, Evan McGee, CTO of Ring Plus, Inc., discussed what service operators can offer that would benefit IoT entrepreneurs, inventors, and consumers. Evan McGee is the CTO of RingPlus, a leading innovative U.S. MVNO and wireless enabler. His focus is on combining web technologies with traditional telecom to create a new breed of unified communication that is easily accessible to the general consumer. With over a de...
Disruptive macro trends in technology are impacting and dramatically changing the "art of the possible" relative to supply chain management practices through the innovative use of IoT, cloud, machine learning and Big Data to enable connected ecosystems of engagement. Enterprise informatics can now move beyond point solutions that merely monitor the past and implement integrated enterprise fabrics that enable end-to-end supply chain visibility to improve customer service delivery and optimize supplier management. Learn about enterprise architecture strategies for designing connected systems tha...
Cloud is not a commodity. And no matter what you call it, computing doesn’t come out of the sky. It comes from physical hardware inside brick and mortar facilities connected by hundreds of miles of networking cable. And no two clouds are built the same way. SoftLayer gives you the highest performing cloud infrastructure available. One platform that takes data centers around the world that are full of the widest range of cloud computing options, and then integrates and automates everything. Join SoftLayer on June 9 at 16th Cloud Expo to learn about IBM Cloud's SoftLayer platform, explore se...
SYS-CON Media announced today that 9 out of 10 " most read" DevOps articles are published by @DevOpsSummit Blog. Launched in October 2014, @DevOpsSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce softw...
15th Cloud Expo, which took place Nov. 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, expanded the conference content of @ThingsExpo, Big Data Expo, and DevOps Summit to include two developer events. IBM held a Bluemix Developer Playground on November 5 and ElasticBox held a Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of Bluemix, its services and functionality and provide short-term introductory projects that developers can complete between sessions.
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, a...
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., showed what is needed to leverage the IoT to transform your business. He discussed opportunities and challenges ahead for the IoT from a market and technical point of vie...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal an...
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo – to be held June 9-11, 2015, at the Javits Center in New York City, NY – is now accepting Hackathon proposals. Hackathon sponsorship benefits include general brand exposure and increasing engagement with the developer ecosystem. At Cloud Expo 2014 Silicon Valley, IBM held the Bluemix Developer Playground on November 5 and ElasticBox held the DevOps Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of...
Grow your business with enterprise wearable apps using SAP Platforms and Google Glass. SAP and Google just launched the SAP and Google Glass Challenge, an opportunity for you to innovate and develop the best Enterprise Wearable App using SAP Platforms and Google Glass and gain valuable market exposure. In his session at @ThingsExpo, Brian McPhail, Senior Director of Business Development, ISVs & Digital Commerce at SAP, outlined the timeline of the SAP Google Glass Challenge and the opportunity for developers, start-ups, and companies of all sizes to engage with SAP today.
Enthusiasm for the Internet of Things has reached an all-time high. In 2013 alone, venture capitalists spent more than $1 billion dollars investing in the IoT space. With "smart" appliances and devices, IoT covers wearable smart devices, cloud services to hardware companies. Nest, a Google company, detects temperatures inside homes and automatically adjusts it by tracking its user's habit. These technologies are quickly developing and with it come challenges such as bridging infrastructure gaps, abiding by privacy concerns and making the concept a reality. These challenges can't be addressed w...
The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focused on understanding how industrial data can create intelligence for industrial operations. Imagine ...
SYS-CON Events announced today that Liaison Technologies, a leading provider of data management and integration cloud services and solutions, has been named "Silver Sponsor" of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York, NY. Liaison Technologies is a recognized market leader in providing cloud-enabled data integration and data management solutions to break down complex information barriers, enabling enterprises to make smarter decisions, faster.
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal today!
Hadoop as a Service (as offered by handful of niche vendors now) is a cloud computing solution that makes medium and large-scale data processing accessible, easy, fast and inexpensive. In his session at Big Data Expo, Kumar Ramamurthy, Vice President and Chief Technologist, EIM & Big Data, at Virtusa, will discuss how this is achieved by eliminating the operational challenges of running Hadoop, so one can focus on business growth. The fragmented Hadoop distribution world and various PaaS solutions that provide a Hadoop flavor either make choices for customers very flexible in the name of opti...
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water, are pursuing SmartGrid initiatives that represent one of the more mature examples of SAE. We have s...
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrategies, will examine why IT must finally fulfill its role in support of its SBUs or face a new round of...
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Wearable devices have come of age. The primary applications of wearables so far have been "the Quantified Self" or the tracking of one's fitness and health status. We propose the evolution of wearables into social and emotional communication devices. Our BE(tm) sensor uses light to visualize the skin conductance response. Our sensors are very inexpensive and can be massively distributed to audiences or groups of any size, in order to gauge reactions to performances, video, or any kind of presentation. In her session at @ThingsExpo, Jocelyn Scheirer, CEO & Founder of Bionolux, will discuss ho...
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impact.