Behringer Harvard Opportunity REIT I Inc., a publicly registered non-traded real estate investment trust, has sold the last real estate asset in its portfolio, Frisco Square, a mixed-use community in Frisco, Texas, for $53.2 million, according to a filing with the Securities and Exchange Commission.
As previously reported by The DI Wire, the unaffiliated buyer originally agreed to purchase the property for $55 million but requested a $1.8 million price adjustment during the due diligence period.
Frisco Square consists of 101,000 square feet of office space, 71,000 square feet of retail, a 41,500-square-foot movie theater, 114 multifamily units, and approximately 17 acres of land.
Behringer Harvard Opportunity REIT I’s offering was declared effective in September 2005 and closed in December 2007 after raising $559 million in investor equity. In January 2017, stockholders approved the company’s plan of liquidation.