This property was purchased well below replacement cost providing leasing advantages over new construction. The strategy for this well-located asset includes creating value by leasing the current vacant space to qualified tenants and transitioning existing tenants to market rates as leases renew. Behringer Harvard anticipates that demand for Class A office space in the area's high growth rental market will provide upside potential over the fund life.

The Ferncroft Corporate Center is an eight-story, Class A office building located approximately 18 miles north of downtown Boston and Logan International Airport. Built in 1990 and renovated in 1999, the building sits on a prominent 12.6-acre hilltop site overlooking Interstate 95 (Route 128) and Route 1. The building provides 226,338 square feet of rentable space and features an adjoining three-story parking garage that supplies a generous 4.5 parking spaces per 1,000 square feet of office space. Amenities include a full-service cafe and a state-of-the-art fitness center. The property is adjacent to the Ferncroft Country Club, which features a Robert Trent Jones-designed golf course and nearby the 600-acre Sheraton Ferncroft Resort and Conference Center.

Property Highlights:

• Located in the business and population hub of New England. Easy access to shopping, restaurants and the executive residential communities of the North Shore.
• Class A amenities include full-service cafe and state-of-the-art fitness center
• Card access security
• Very competitive 4.5 parking spaces per 1,000 square feet of office space
• Adjacent to a premier country club that features a Robert Trent Jones-designed golf course and near a major hotel