Behringer Harvard Opportunity REIT

Commercial Real Estate Investment Managementbehringerinvestments.com

Behringer Investments is a Dallas-based, family-controlled commercial real estate investment management firm (founded 1989) that sponsors non-listed REITs, closed-end funds, and liquidating trusts for individual and institutional investors via a captive FINRA dealer-manager network.

Company typePrivate
Founded1989
HeadquartersAddison, United States
Headcount51–100
GTM typeB2B
OfferingServices

What Behringer Harvard Opportunity REIT does

Behringer Harvard Opportunity REIT is the flagship non-listed real estate investment product of Behringer Investments, a Dallas-based, family-controlled commercial real estate investment management firm operating under Stratera Holdings, LLC. Founded in 1989 by Robert M. Behringer, the firm has evolved through predecessor entities (Behringer Partners, Harvard Property Advisors, Behringer Harvard) into an integrated platform sponsoring multiple non-listed REITs, closed-end funds, joint ventures, and managed accounts. The product portfolio centers on Behringer Harvard Opportunity REIT I and II (non-listed REITs) alongside two liquidating trusts (Short-Term Opportunity, Mid-Term Value Enhancement), with former vehicles TIER REIT and Monogram Residential Trust having been spun off or rebranded. The firm has historically attracted over $6 billion in investor capital and acquired $11 billion in assets across 10 countries and every major commercial real estate asset class, covering more than 28 million square feet.

The firm operates a sales-led distribution model, offering securities through Behringer Securities LP, a FINRA-registered dealer-manager, and a network of participating broker-dealers and financial advisors. It targets individual investors (primary) and institutional investors (secondary) seeking exposure to institutional-quality commercial real estate for diversification and income. Internally, the platform delivers integrated services across acquisitions, property management, asset management, capital markets (debt and preferred equity structuring), and disposition, supported by an in-house team of attorneys, accountants, and real estate professionals. Revenue is generated from recurring investment management and asset management fees on sponsored programs, supplemented by returns from direct real estate investment activity.

Leadership is anchored by Michael D. Cohen (President & CEO, 25+ years of CRE experience from Harvard Property Trust and Crow Holdings), M. Jason Mattox (COO, principal since inception), and Bradley D. Behringer (EVP, founder's son and acquisition lead). The firm maintains a strategic co-sponsorship with Prospect Capital Management on the Priority Income Fund, extending the platform into collateralized loan obligations. Customer acquisition is distributed and intermediary-driven, with no public technology product, app, or AI/ML capability disclosed; the competitive position rests on multi-decade brand recognition, integrated service infrastructure, and a captive regulated distribution channel.

Behringer Harvard Opportunity REIT firmographics

Firmographics

Name: Behringer Harvard Opportunity REIT
Legal name: Stratera Holdings, LLC
Website: https://behringerinvestments.com
Company type: Private
Founded year: 1989
Operating status: Operating
Headcount range: 51–100 employees
Short description: Behringer Investments is a Dallas-based, family-controlled commercial real estate investment management firm (founded 1989) that sponsors non-listed REITs, closed-end funds, and liquidating trusts for individual and institutional investors via a captive FINRA dealer-manager network.
Ownership category
akta.pro rank

Behringer Harvard Opportunity REIT industry classification

Industry

Product category: Commercial Real Estate Investment Management
NAICS: Other Financial Vehicles (52599)
SIC: Real Estate Investment Trusts (6798)
akta.pro primary industry: Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ)
akta.pro secondary industry: Real Estate Investment Management (Acquisitions & Dispositions) (BPAJAMAK)

Keywords

Commercial real estate investment
Non-listed REIT management
Real estate asset management
Commercial property acquisition
Closed-end real estate funds

Where Behringer Harvard Opportunity REIT is headquartered

Location

Headquarters

HQ city: Addison
HQ country: United States
HQ region: North America

Offices2 records

Markets served

Behringer Harvard Opportunity REIT business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

Investment Management Fees: The company earns management fees from sponsored investment programs including REITs and closed-end funds. Fees are generated from advisory services, asset management, and capital raising activities through the Behringer Securities LP dealer-manager entity.
Real Estate Investment Returns: Returns generated through acquisition, management, and disposition of commercial real estate assets across multiple property types including office, retail, industrial, hotel, and residential properties.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Behringer Harvard Opportunity REIT product offering

Product offering

Core offering

Behringer creates and manages commercial real estate investments through public and private fund structures, non-listed REITs, joint ventures, and managed accounts. The firm covers the full real estate life cycle including acquisitions, property/asset management, capital markets, and dispositions across all major commercial real estate asset classes (office, retail, industrial, hotel, residential) in the U.S. and internationally, distributing interests via Behringer Securities LP and affiliated broker-dealers.

Product overview

Behringer Harvard Opportunity REIT operates as a commercial real estate investment platform offering multiple non-listed REIT products and liquidating trusts. The product portfolio includes Behringer Harvard Opportunity REIT I and II (non-listed REITs), the Short-Term Opportunity and Mid-Term Value Enhancement Liquidating Trusts, and formerly included TIER REIT and Monogram Residential Trust (both subsequently rebranded). The company provides integrated real estate services including acquisitions, property management, asset management, capital markets, and disposition services, managing a portfolio across 10 countries and every major commercial real estate asset class.

Differentiator

Problem solved

Functional benefit

Products and services

Behringer Harvard Opportunity REIT I, Inc. A non-listed REIT that invests in commercial real estate, offering individuals investment options in public, non-listed real estate programs.
Behringer Harvard Opportunity REIT II, Inc. A non-listed REIT similar to Opportunity REIT I, providing commercial real estate investment opportunities to individuals.
Behringer Harvard Short-Term Opportunity Liquidating Trust A liquidating trust for short-term opportunity investments, managed under the Behringer family of companies with a Fourth Amended and Restated Code of Business Conduct Policy.
Behringer Harvard Mid-Term Value Enhancement Liquidating Trust A liquidating trust focused on mid-term value enhancement strategies for real estate investments.
Acquisitions Services Acquisition capabilities extending from targeted single assets and portfolios to public/private real estate companies and platforms.
Property Management Services Financial reporting and budgeting, lease administration and management, start-up and transition services, tenant coordination and conflict resolution, and physical property assessments.
Asset Management Services Property tax management, risk management, accounting and financial reporting, treasury and cash management, development, construction and engineering management.
Capital Markets Services Single-asset and corporate finance debt transactions through the entire capital stack, including senior, subordinated, bridge and mezzanine debt and preferred equity.
Disposition Services Hold/sell analysis and market valuations, business plan reviews, tactical disposition timing and market strategy.

Companies that use Behringer Harvard Opportunity REIT

Customer profile

Segments2 records

Ideal customer profiles2 records

Behringer Harvard Opportunity REIT technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Behringer Harvard Opportunity REIT partnerships and signals

Strategic signal

Partnerships

Three partnerships are on record, tiered core and minor.

Prospect Capital ManagementcoreStrategic or Co-development PartnerCo-sponsor relationship for the Priority Income Fund, which invests in collateralized loan obligations. Behringer Harvard serves as co-originator alongside Prospect Capital Management for this income-focused investment vehicle.
FINRA (Financial Industry Regulatory Authority)minorOthersBehringer Securities LP is a member of FINRA (Financial Industry Regulatory Authority), providing regulatory oversight of securities distribution activities.
SIPC (Securities Investor Protection Corporation)minorOthersBehringer Securities LP is a member of SIPC (Securities Investor Protection Corporation), providing investor protection for securities held in customer accounts.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Behringer Harvard Opportunity REIT competitors and assessment

Company assessment

Direct peers

NexPoint (Highlands REIT/Real Estate Strategies): Specialty alternative asset manager operating non-listed REITs and real estate-focused investment trusts distributed through financial advisors. Direct competitor in the broker-dealer distributed non-traded REIT category.
CIM Group: Vertically integrated real estate and infrastructure investment manager running private and public real estate programs with full in-house capabilities across asset classes and geographies. Directly comparable in business model scope and product structure to Behringer.
Crow Holdings: Texas-based integrated commercial real estate investment and asset management firm with capabilities in acquisitions, development, and asset management. Behringer CEO Michael D. Cohen previously served as VP at Crow Holdings, making it the closest direct operating peer and talent-overlap comparable.
Harrison Street: Alternative real estate investment manager focused on demographic-driven real estate themes via closed-end funds and SMAs. Comparable product structure (closed-end funds, separately managed accounts) targeting institutional and individual investors with similar diversification strategy.

Others

CBRE Investment Management: Real estate investment management arm of CBRE Group managing diversified funds and separate accounts. Comparable in managing institutional and pooled real estate investment vehicles, though operates primarily at institutional scale rather than non-traded retail REIT distribution.
JLL (Jones Lang LaSalle): Global real estate services firm providing investment management, property management, and capital markets advisory to institutional investors. Comparable services capability (acquisitions, property management, capital markets) but operates as third-party service provider rather than principal sponsor.

Broad incumbents

Blackstone Real Estate Income Trust (BREIT): The largest non-traded REIT in the US, sponsored by Blackstone. Direct product-category competitor as a non-listed retail-accessible REIT targeting individual investors through financial advisors.
KKR Real Estate: Global real estate investment platform within KKR managing REITs (KKR Real Estate Finance Trust), private equity real estate funds, and separately managed accounts. Overlap with Behringer's REIT/PE real estate fund model but at substantially larger scale.
Starwood Capital Group: Global real estate investment manager operating REITs, private funds, and separately managed accounts across commercial property types. Comparable to Behringer in operating non-traded REITs (e.g., Starwood Real Estate Income Trust) and closed-end funds, but at materially larger AUM scale.
Brookfield Asset Management: Global alternative asset manager with major real estate operations spanning REITs, opportunity funds, and core/core-plus strategies. Comparable in managing diversified RE products but at vastly greater scale and with broader geographic footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Behringer Harvard Opportunity REIT financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Behringer Harvard Opportunity REIT leadership team

Management profile

Number of profiles

Profiles5 records

Behringer Harvard Opportunity REIT subsidiaries and ownership

Company hierarchy

Subsidiaries5 records

Behringer Harvard Opportunity REIT funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Behringer Harvard Opportunity REIT M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Behringer Harvard Opportunity REIT

What does Behringer Harvard Opportunity REIT do?

Is Behringer Harvard Opportunity REIT a public or private company?

Behringer Harvard Opportunity REIT is a private company. It is classified as family owned and is currently operating.

When was Behringer Harvard Opportunity REIT founded?

Behringer Harvard Opportunity REIT was founded in 1989. It employs 51 to 100 people.

Where is Behringer Harvard Opportunity REIT based?

Behringer Harvard Opportunity REIT is headquartered in Addison, United States, in the North America region.

How does Behringer Harvard Opportunity REIT make money?

Two revenue lines are on record. Investment Management Fees are the primary driver. The others are real Estate Investment Returns.

Who are Behringer Harvard Opportunity REIT's main competitors?

Direct peers on record are NexPoint (Highlands REIT/Real Estate Strategies), CIM Group, Crow Holdings and Harrison Street. Others are CBRE Investment Management and JLL (Jones Lang LaSalle). Broad incumbents are Blackstone Real Estate Income Trust (BREIT), KKR Real Estate, Starwood Capital Group and Brookfield Asset Management.

Does Behringer Harvard Opportunity REIT have an API?

No public API is recorded for Behringer Harvard Opportunity REIT.

What industry is Behringer Harvard Opportunity REIT in?

Behringer Harvard Opportunity REIT's product category is Commercial Real Estate Investment Management. Its primary akta.pro industry code is BPAJAMAJ, Real Estate Portfolio & Fund Management (Institutional/REIT/PE), with a secondary code of BPAJAMAK, Real Estate Investment Management (Acquisitions & Dispositions). Its NAICS code is 52599 and its SIC code is 6798.