A Behringer non-traded REIT announced today that its board of directors has authorized a special cash distribution of $1.00 per share or $25.7 million in total.
Behringer Harvard Opportunity REIT II, Inc. (Opportunity REIT II) stockholders of record as of March 30, 2015 will earn the special distribution to be paid on March 31, 2015.
The REIT aims to continue making special distributions in the future as well.
“We are very pleased to announce this special cash distribution,” commented Behringer Harvard Opportunity REIT II’s Chairman Bob Aisner. “Furthermore, the company intends to make additional special distributions as the company’s assets are fully cycled.”
The March 2015 special distribution will increase the cumulative total shareholder special distributions to $2.00 per share. In total, Opportunity REIT II has paid out $82.1 million in regular and special distributions to shareholders since inception.
The REIT’s portfolio consists of investment interests in seven multifamily/student housing assets, two office, one hospitality, and one mezzanine loan.
As a result of the special distribution and in accordance with the REIT’s valuation policy, the estimated value per share will adjust based on the amount of the per-share special distribution to $8.72 on March 30, 2015 from the $9.72 which was determined in November 2014.
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