Behringer Harvard Acquires Multifamily Community in Affluent Suburb of New Haven, Connecticut

Behringer Harvard Acquires Multifamily Community in Affluent Suburb of New
Haven, Connecticut

DALLAS, Nov. 12 /PRNewswire/ -- Behringer Harvard announced today that it has
acquired a 168-unit multifamily community located on a heavily wooded 9.6-acre
site at 75 Prindle Hill Road in Orange, Connecticut. The Town of Orange is an
affluent suburb nine miles southwest of New Haven in southern Connecticut.

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"Since its construction in 2005, this multifamily community has sustained a
high level of occupancy and stable income," said Mr. Mark T. Alfieri, Chief
Operating Officer of Behringer Harvard Multifamily REIT I, Inc. "The New
Haven/Harborside submarket has enjoyed steady population growth while the new
supply of high-quality apartments has been limited. We expect these factors to
result in strong operational performance over the life of this investment."

The community - which Behringer Harvard is rebranding as Grand Reserve Orange
- consists of six three-story residential buildings featuring one-, two- and
three-bedroom apartment homes with a private patio or balcony and loft options
for each unit size. The tranquil, park-like setting includes a separate
clubhouse with a fitness center and leasing office. These buildings are
separated by a wetland preserve with a scenic boardwalk. Other on-site
amenities include a swimming pool, landscaped barbecue and picnic area and
playground.

Shoppers will appreciate the community's location, which is only one half mile
from the Boston Post Road (Route 1) shopping corridor and less than five miles
from Connecticut Post Mall. This popular regional mall offers 1.3 million
square feet of retail space with more than 190 stores and boutiques.

Orange, Connecticut has experienced robust population and household growth
since 2000 and is favored by skilled professionals with high average household
incomes. The town is expected to continue to benefit from long-term growth in
commerce, population and income that has been characteristic of the suburban
Fairfield/New Haven region during the last decade.

In addition to an amenity-rich environment with top-rated schools and
small-town appeal, Grand Reserve Orange provides a convenient location for
commuters. This multifamily community is approximately one mile from
Interstate 95, which connects to Interstate 91 in New Haven. Route 15 (the
Wilbur Cross/Merritt Parkway) also is less than four miles from Grand Reserve
Orange. These major roadways provide access to employment centers in Fairfield
and New Haven counties.

Public transportation is available at New Haven's Union Station, located six
miles north of Grand Reserve Orange. Union Station provides access to the
Metro North Railroad and regional Amtrak and Greyhound services with
connections to the New York metro area. The four largest airports in the
region, including three international airports, are within 90 minutes of Grand
Reserve Orange.

Major area employers - which are strongly concentrated in the comparatively
resilient education and healthcare industries - include Yale University,
Yale-New Haven Hospital, AT&T Connecticut, Hospital of Saint Raphael and
Southern Connecticut State University.

Including this most recent investment, the portfolio of Behringer Harvard
Multifamily REIT I, Inc. includes investments in 17 multifamily communities in
10 states providing a total of 4,937 apartment homes.

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 Multifamily REIT I, 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 Multifamily REIT I, 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.

SOURCE Behringer Harvard

Katie Myers of Richards Partners, +1-214-891-5842, katie_myers@richards.com;
or Jason Mattox, Chief Administrative Officer, 1-866-655-3600,
jmattox@behringerharvard.com, or Barbara Marler, +1-469-341-2312,
bmarler@behringerharvard.com, both of Behringer Harvard