Click here to close now.



Welcome!

Microsoft Cloud Authors: Pat Romanski, Elizabeth White, Liz McMillan, Mihai Corbuleac, David Bermingham

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 Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm ...
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
"We work in the area of Big Data analytics and Big Data analytics is a very crowded space - you have Hadoop, ETL, warehousing, visualization and there's a lot of effort trying to get these tools to talk to each other," explained Mukund Deshpande, head of the Analytics practice at Accelerite, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The idea of comparing data in motion (at the sensor level) to data at rest (in a Big Data server warehouse) with predictive analytics in the cloud is very appealing to the industrial IoT sector. The problem Big Data vendors have, however, is access to that data in motion at the sensor location. In his session at @ThingsExpo, Scott Allen, CMO of FreeWave, discussed how as IoT is increasingly adopted by industrial markets, there is going to be an increased demand for sensor data from the outermos...
UAS, drones or unmanned aircraft, no matter what you call them — this was their week. Our news stream was flooded with updates on the newly announced rules and regulations for commercial UAS from the FAA. So, naturally we have dedicated this week’s top news round up to highlight some of our favorite UAS stories.
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
When people aren’t talking about VMs and containers, they’re talking about serverless architecture. Serverless is about no maintenance. It means you are not worried about low-level infrastructural and operational details. An event-driven serverless platform is a great use case for IoT. In his session at @ThingsExpo, Animesh Singh, an STSM and Lead for IBM Cloud Platform and Infrastructure, will detail how to build a distributed serverless, polyglot, microservices framework using open source tec...
Apixio Inc. has raised $19.3 million in Series D venture capital funding led by SSM Partners with participation from First Analysis, Bain Capital Ventures and Apixio’s largest angel investor. Apixio will dedicate the proceeds toward advancing and scaling products powered by its cognitive computing platform, further enabling insights for optimal patient care. The Series D funding comes as Apixio experiences strong momentum and increasing demand for its HCC Profiler solution, which mines unstruc...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
Presidio has received the 2015 EMC Partner Services Quality Award from EMC Corporation for achieving outstanding service excellence and customer satisfaction as measured by the EMC Partner Services Quality (PSQ) program. Presidio was also honored as the 2015 EMC Americas Marketing Excellence Partner of the Year and 2015 Mid-Market East Partner of the Year. The EMC PSQ program is a project-specific survey program designed for partners with Service Partner designations to solicit customer feedbac...
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...