Behringer Harvard's Big Plans
Joe Flacco is going to Disney World, but Behringer Harvard CEO Bob Aisner is going for more luxury multifamily development in core growth markets. In other words, its Multifamily REIT 1 will do more of what worked in 2012.
In '12, the multifamily REIT focused on the top 50 MSAs with an emphasis on coastal and southern growth markets. Bob says performance was strong in the first nine months with rental revenue increasing by 23% compared with '11.The portfolio: 48 multifamily properties in 14 states (almost 13,000 units) including 12 development projects in various stages of construction. Twoproperties were also acquired, he says. Bob has to be optimist; he's a Red Sox fan.