DALLAS, April 1, 2008 /PRNewswire/ -- Behringer Harvard announced today
that the common stock offering of Behringer Harvard Opportunity REIT II, Inc.
has raised proceeds sufficient to break escrow. This non-traded public real
estate investment trust has now broken escrow and admitted initial investors
as shareholders. New shareholders will continue to be admitted on a daily
closing basis. The REIT now accepts shareholders residing in 49 of the 50
states, and investors residing in Pennsylvania will be admitted after
aggregate subscriptions exceed $50 million.
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"Behringer Harvard Opportunity REIT II, Inc. is the fifth
value-added/opportunistic-style fund we have offered through the broker-dealer
community. All four of these previous offerings have been fully subscribed,"
said Robert M. Behringer, founder and chief executive officer of Behringer
Harvard. "This new fund comes on the heels of those successes, including the
full subscription of over half a billion dollars in Behringer Harvard
Opportunity REIT I. We believe the market acceptance of these offerings
provides clear validation from financial advisors and their investor clients
of the importance of diversifying investment portfolios with
appreciation-focused real estate."
Behringer Harvard Opportunity REIT II will pursue a
value-added/opportunistic acquisition strategy targeting commercial properties
with significant potential for value creation over a short-term fund life.
About Behringer Harvard
Behringer Harvard is a commercial real estate company investing in assets domestically and internationally. The company creates and manages strategic
real estate fund opportunities across a wide spectrum of investment styles for
retail investors, as well as domestic and international institutions, through
its real estate investment trusts, partnerships, joint ventures, and
proprietary program structures. For more information, call toll-free
866.655.3600 or visit behringerharvard.com.
This release contains forward-looking statements relating to the business
and financial outlook of 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
of Behringer Harvard Opportunity REIT II, Inc. 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.