BEHRINGER HARVARD ACQUIRES 308-UNIT MULTIFAMILY COMMUNITY

CHERRY HILL, N.J. — Behringer Harvard has acquired Burrough's Mill Apartment Homes, a 308-unit multifamily community located in Cherry Hill. Situated on 25.7 acres, the property contains 32 two-story buildings. The units comprise a mix of one, two and three bedrooms. They range in size from 835 to 1,450 square feet and more than half contain private garages. Community amenities include a clubhouse with a fitness center, a sauna and a business center. Other amenities include a resort-style swimming pool, a tennis court, a scenic pond, a walking trail and gated access. Behringer Harvard acquired the property through a joint venture between its Behringer Harvard Multifamily REIT I affiliate and PGGM Private Real Estate Fund, which assists large Dutch pension funds with real estate investments. The acquisition price was not disclosed.