The Tanglewood on Voss development represents an attractive opportunity to meet the demand for luxury Class A multifamily properties in the Houston area. Behringer Harvard will provide mezzanine financing with an option to purchase the asset at predetermined pricing upon completion of construction.

Tanglewood on Voss is a planned multifamily development to be located on 5.84 acres of developable land. Plans call for 376 luxury apartment units totalling 335,965 square feet, with the first dwellings slated for availability in early 2008. Completion of the total project is expected in 2009.

Situated on South Voss Road in Houston, Texas, the property will provide convenient access to Houston’s attractions. As the fourth-largest city in the United States, Houston offers many recreational activities, cultural venues, entertainment centers, and business opportunities.

The Uptown area, home to more than 30,000 people, offers more than 5 million square feet of leasable retail space and approximately 23 million square feet of commercial office space. Westchase is a master-planned area with abundant shopping, housing, and public and private schools.

Property Highlights:

• Premier location between the Galleria/Uptown and the Westchase District in Houston
• Area is home to businesses, retail outlets, and entertainment centers