Behringer Harvard Picks Up Tenn. Apartments In $32M Deal

Law360, New York (December 21, 2011, 6:07 PM EST) -- Commercial real estate investment firm Behringer Harvard has snagged a 32-building luxury residential complex in Tennessee in a deal worth $31.5 million, the company announced Wednesday.

Through its real estate investment trust arm, Dallas-based Behringer Harvard has acquired a 94 percent ownership interest in Memphis, Tenn., luxury community Arbors Harbor Town Apartments. Carter-Haston Real Estate Services Inc., a Tennessee-based owner and operator of apartment communities, teamed up with Behringer Harvard in a joint venture to buy the property.

Behringer Harvard bought the shares from Finpar 4...
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