BEHRINGER HARVARD’S BUCKHEAD APARTMENT COMMUNITY BREAKS GROUND

ATLANTA — Behringer Harvard Multifamily REIT I Inc. has announced the beginning of construction for Cyan on Peachtree, a 329-unit multifamily community located at 3380 Peachtree Road in Atlanta’s Buckhead market. The 23-story tower, located one block from the Buckhead MARTA station, will include an adjacent seven-level parking garage upon completion. The REIT provided equity capital for the construction, along with Mongram Residential Master Partnership I LP, a joint venture between Behringer Harvard Multifamily REIT I and PGGM Private Real Estate Fund. The new community has begun construction and is expected to open for residents in the second quarter of 2015. An affiliate of Atlanta-based Atlantic Realty Partners will develop the project, and Birmingham, Ala.-based Brasfield & Gorrie is the project’s general contractor. The units will average 838 square feet and will feature nine-foot ceilings, floor-to-ceiling windows, washers and dryers, quartz countertops, hardwood cabinets and kitchens with islands and stainless steel appliances. Common amenities will include a garage-top deck with a resort-style pool with cabanas, gardens and grilling areas, a terrace overlooking Peachtree Street, fitness center and sidewalk cyber café.