Behringer Offers Equity Backing To Spur Austin Luxury Tower

Law360, New York (April 15, 2013, 2:55 PM EDT) -- Continuing its deals streak in Texas, Behringer Harvard has invested in its first Austin development project, with an undisclosed equity commitment to get construction started on a 24-story luxury apartment tower, it announced Monday.

The deal is being financed through its real estate investment trust arm, Behringer Harvard Multifamily REIT I Inc, and will help kick-start CWS Capital Partners LLC’s delayed luxury apartment project known as Seven Rio. Financial details of the deal were not disclosed, and representatives for the company could not immediately be reached...
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