BEHRINGER HARVARD BUYS INTEREST IN VIRGINIA COMPLEXES

by admin

ARLINGTON COUNTY AND FAIRFAX COUNTY, VA. — A joint venture between Behringer Harvard Multifamily REIT I and PGGM Private Real Estate Fund has purchased more than 75 percent ownership interests in apartment complexes in Virginia. The deal includes the 414-unit Bailey's Crossing, located near the intersection of Interstate 395 and Route 7 in Fairfax County. The property, which features a swimming pool and a fitness center, is 90 percent complete. Also included is the 234-unit 55 Hundred, located at 5500 Columbia Pike Road in Arlington County. The 10-story property is 99 percent complete.

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