S. Korean Pension Fund Buys Stake In REIT's $1B Portfolio

Law360, New York (December 8, 2011, 8:41 PM EST) -- An apartment-focused real estate investment trust controlled by Behringer Harvard has brought in a South Korean pension fund on a $1 billion portfolio of 15 apartment buildings, mostly in western U.S. states, the company said Thursday.

In two transactions announced in regulatory filings, Behringer Harvard Multifamily REIT I Inc. sold partial interests in the properties to South Korea's National Pension Fund, that country's biggest retirement manager, in a partnership with real estate investment firm Heitman LLC.

“This additional infusion of institutional co-investment capital provides further market...
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