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Behringer Harvard Multifamily REIT I, Inc. Announces Development of Luxury Multifamily Community in San Diego Metro Area



  Behringer Harvard Multifamily REIT I, Inc. Announces Development of Luxury
                Multifamily Community in San Diego Metro Area

PR Newswire

DALLAS, Oct. 10, 2013

DALLAS, Oct. 10, 2013 /PRNewswire/ -- Behringer Harvard Multifamily REIT I,
Inc. (the REIT) announced today that construction has begun on a luxury
multifamily community in the East Mission Valley submarket of San Diego. The
development, tentatively known as Mission Gorge, is the result of a joint
venture between the REIT and KNR Mission Gorge, LLC. Cobalt Construction has
been hired to build the multifamily community.

When the development project at 6850 Mission Gorge Road is completed in early
2016, it will offer 444 luxury apartment homes. Approximately half of the
units will be one-bedroom, one-bath apartments; units with two or three
bedrooms and two baths also will be available. Unit sizes will range from 713
to 1,363 square feet.

"We are pleased to be working with the principals of KNR on our first
multifamily project in the San Diego market," said Mark T. Alfieri, president
and COO of the REIT. "We expect Mission Gorge to appeal to residents who
appreciate the new standard of luxury living that Mission Gorge will offer, as
well as the easy access this well-located community will provide to the
Mission Valley area and employment centers throughout San Diego."

"We welcome this opportunity to work with the REIT, one of the most respected
multifamily owners in the country, to develop this high-quality multifamily
community in an incredible city," said Neil Brown, a principal of KNR Mission
Gorge and the former chief development officer for Archstone. "We are pleased
to start construction on this outstanding development."

Residents of Mission Gorge will enjoy luxurious amenities including
resort-style pools and spas, 24-hour sports club, business center, community
room with kitchen, game lounge, barbecues, and outdoor media lounge with
fireplace and flat-screen television. Units will feature quartz countertops,
stainless steel appliances, nine-foot ceilings, walk-in master closets, and
full-size washers and dryers.

Major employers near Mission Gorge include the U.S. Navy, San Diego State
University, Kaiser Permanente San Diego Medical Center/Kaiser Foundation
Hospital and leaders in various technology industries.

Residents commuting to other areas of San Diego will have convenient access to
major traffic arteries (I-15, I-805 and I-8) and the light rail services
offered at the Grantville station on the San Diego Trolley Green Line, less
than two miles south of the property. The nearby Fashion Valley Mall has 1.7
million square feet of retail space anchored by six national department
stores.

About Behringer Harvard Multifamily REIT I, Inc.
Behringer Harvard Multifamily REIT I, Inc. (the REIT) is a Dallas-based real
estate investment trust that invests in, develops and operates high-quality
multifamily communities offering location and lifestyle amenities. The REIT
invests in stabilized operating properties and properties in various phases of
development, with a focus on communities located in the top 50 Metropolitan
Statistical Areas of the United States. The REIT's portfolio includes
investments in 56 multifamily communities in 13 states comprising 16,035
apartment homes.

About KNR Mission Gorge, LLC
KNR Mission Gorge, LLC is a multifamily development partnership with offices
in Irvine, California, and Atlanta, Georgia formed by three former Archstone
senior executives shortly after the acquisition of Archstone by Equity
Residential and AvalonBay in February 2013. Neil Brown, former chief
development officer for Archstone; Rick Lamprecht, former executive vice
president of development for Archstone's West Region; and Ken Keefe, former
group vice president of development for Archstone established a partnership
that will focus on developing apartment communities in select markets in
California.

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 section of Behringer Harvard Multifamily REIT I, Inc.'s Annual Report
on Form 10-K for the year ended December 31, 2012, and in subsequent Quarterly
Reports on Form 10-Q. 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

Website: http://www.behringerharvard.com
Contact: Barbara Marler, Behringer Harvard for Behringer Harvard Multifamily
REIT I, Inc., bmarler@behringerharvard.com, 469.341.2312; or David Nesmith,
Richards Partners for Behringer Harvard Multifamily REIT I, Inc.,
david_nesmith@richards.com, 214.891.2864
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