BEHRINGER HARVARD INVESTS IN NEW LUXURY HIGH-RISE IN AUSTIN

AUSTIN, TEXAS — Behringer Harvard Multifamily REIT I Inc. has provided equity capital for the construction of the 24-story Seven RIO, a 220-unit luxury high-rise development in the West Sixth Street District in downtown Austin. The multifamily tower will be located on the northeast corner of West Seventh Street and Rio Grande. CWS Capital Partners LLC, a real estate investment firm with co-headquarters in Austin and Newport Beach, Calif., will develop Seven RIO, which is slated to break ground this month. The new development's amenity package will include a resort-style pool, upscale fitness center, business center, club room and patio area with a fireplace and built-in grills. Behringer Harvard Multifamily REIT I Inc.'s portfolio includes investments in 52 multifamily communities in 14 states.