Lifecycle non-traded REIT formed (as Behringer Harvard Opportunity REIT II) to acquire opportunistic and value-add commercial real estate — properties needing development, redevelopment or repositioning, high-growth submarkets and distressed sellers — plus mortgage and mezzanine loans. After selling its office, industrial, retail, hospitality and student housing assets, it now owns eight wholly owned U.S. multifamily properties (2,480 units) in Florida, Texas, Tennessee, Illinois and Michigan. Objectives are growth in investment value and income; the Board targets commencing a liquidity event by June 30, 2033.