ADDISON, Texas, Dec. 8, 2015 /PRNewswire/ -- Behringer announced today that the board of directors of Behringer Harvard Opportunity REIT II, Inc. has authorized a $38.4 million, or $1.50 per share, special cash distribution. The special cash distribution is payable on January 5, 2016 to stockholders of record as of the close of business on December 31, 2015.
"Once again, we are very pleased to announce this special cash distribution and we intend to make additional special distributions as the company's assets are fully cycled," said Behringer Harvard Opportunity REIT II Chairman, Bob Aisner.
In accordance with Behringer Harvard Opportunity REIT II's valuation policy, as assets are sold, the estimated share value (ESV) will be reduced by the amount of any special cash distributions paid to shareholders. Therefore, the ESV will be adjusted to $7.69 on the December 31, 2015 record date. Since inception through the payment date, the company will have paid to shareholders an aggregate of $120.4 million in regular and special distributions.
Behringer Harvard Opportunity REIT II holds interests in six multifamily/student housing investments, one office investment, one hospitality investment, and one mezzanine loan.
About Behringer Harvard Opportunity REIT II, Inc.
Behringer Harvard Opportunity REIT II, Inc. invests in office, retail, industrial, hospitality, single tenant, and multifamily properties that are operating, newly constructed or under development. For more information, call toll-free 866.655.3600 or visit behringerinvestments.com.
Behringer creates and manages real estate investments through public and private fund structures, joint ventures and separately managed accounts. The company also offers strategic advisory, asset management, tax-deferred exchange and capital markets solutions. Investments sponsored and managed by the Behringer group of companies have invested into more than $11 billion in assets. For more information, call 214.655.1600 or visit behringerinvestments.com.
This release contains forward-looking statements relating to the business and financial outlook of Behringer Harvard Opportunity REIT II, 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 section of Behringer Harvard Opportunity REIT II, Inc.'s Annual Report on Form 10-K for the year ended December 31, 2014, and in subsequent Quarterly Reports on Form 10-Q. Forward-looking statements in this release 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.