Behringer Harvard Multifamily REIT I Inc. said it has begun construction on a 444-unit luxury apartment complex tentatively known as "Mission Gorge" at 6850 Mission Gorge Road.
The development, a joint venture between Behringer Harvard and KNR Mission Gorge LLC, is being constructed by Cobalt Construction.
When completed in early 2016 the complex will feature one- to three-bedroom floorplans ranging from 713 to 1,363 square feet.
Amenities will include resort-style pools and spas, 24-hour sports club, business center, community room with kitchen, game lounge, barbecues, and an outdoor media lounge with fireplace and flat-screen television. Units will feature quartz countertops, stainless steel appliances, 9-foot ceilings, walk-in master closets, and full-size washers and dryers.
Behringer Harvard is a Dallas-based real estate investment trust that invests in, develops and operates upscale multifamily developments. The REIT invests in stabilized operating properties and properties in various phases of development, with a focus on communities located in the top 50 Metropolitan Statistical Areas of the United States. The REIT's portfolio includes investments in 56 multifamily communities in 13 states comprising 16,035 apartments
KNR Mission Gorge is a multifamily development partnership with offices in Irvine and Atlanta, formed by three former Archstone senior executives shortly after the acquisition of Archstone by Equity Residential and AvalonBay in February 2013.