Behringer Harvard to Open European Office in Germany

DALLAS, Oct. 1 /PRNewswire/ -- Behringer Harvard announced today that it will expand its global presence with the opening of an office in Hamburg, Germany. Slated to begin operations in early October, this office will operate as a fully functional business unit equipped to source private and institutional equity, complete transactions and manage real estate assets. The office will be engaged in European real estate acquisitions and in asset management and property management for Behringer Harvard's assets in Europe.

Behringer Harvard is a Dallas-based real estate company investing in assets domestically and internationally. The company and its investment programs own and manage assets of approximately $8 billion, on a fully developed basis, located in 10 countries including the United States, the Netherlands, Germany, the Bahamas, the United Kingdom, Australia, the Czech Republic, Poland, Slovakia and Hungary.

Robert S. Aisner, president of Behringer Harvard, said, "We expect our European office to position the company for continued growth through strategic investments in European markets. We always manage our international real estate assets by leveraging local expertise, and a European base of operations will make that easier. We also believe that this business unit will provide us with advantages in sourcing equity, pursuing joint ventures and strengthening our relationships with real estate owners, developers, investors and lenders abroad."

To facilitate the establishment of this new office, Oliver Georg and Olaf Fortmann have joined Behringer Harvard as managing directors. These seasoned executives bring decades of experience in acquiring and managing real estate assets in European markets. Prior to joining Behringer Harvard, Georg and Fortmann worked together to jointly develop a comprehensive real estate platform for HCI Capital AG, one of the largest German suppliers of closed-end funds. They were also instrumental in developing the partnership of HCI Capital AG and Behringer Harvard which was formed in 2006.

Aisner said, "We've had the pleasure of working with Oliver and Olaf for years, and we're pleased to welcome these talented experts to the Behringer Harvard team. With their European market knowledge and established industry relationships, I'm confident they will make valuable contributions to the company's international growth."

A real estate investment specialist with more than 25 years of on-the-ground experience in the United States and Europe, Oliver Georg has extensive expertise in international real estate development. He has managed international real estate portfolios for numerous global real estate investors.

From 1999 to 2008, Georg established and managed the real estate business unit for HCI Capital AG. He served as an asset manager for a well-established German private investor, and developed their international real estate portfolio from 1994 to 1999. Georg established branch offices in the former East Germany for DTZ Deutschland GmbH, an international real estate consulting firm, from 1991 to 1994. After graduating from the University of Colorado with a Bachelor of Arts degree in economics, Georg worked in the United States for seven years as an investment consultant before returning to his native country, Germany, in 1991.

Olaf Fortmann has more than 15 years of experience in international real estate. From 2004 to 2008, Fortmann was a managing director at HCI Capital AG. Between 2000 and 2004, Fortmann was a director for Blue Capital GmbH, a closed-end funds subsidiary of HypoVereinsbank Group, a German banking institution. At Blue Capital, Fortmann was responsible for real estate acquisitions and asset management in Europe and North America. Prior to that, he was a director for Difa AG, the sponsor of an open-ended fund, with responsibility for asset management of the foreign real estate portfolio and real estate acquisitions in the United States. Fortmann holds a diploma in business administration and has studied corporate real estate management at the European Business School in Germany.

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 [+49 40/32 901 128] or visit behringerharvard.de.