Behringer Harvard Multifamily REIT I, a public non-listed real estate investment trust, announced today its initial public offering to raise equity in excess of $2 billion through the sale of up to 200 million shares of common stock at $10 per share. The company is offering all the shares in a “best efforts” offering through a national network of independent financial advisors. The company also is offering up to 50 million shares of common stock through its distribution reinvestment plan at $9.50 per share. A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission.

A copy of the prospectus relating to the offering may be obtained from Behringer Securities LP, the dealer manager in the offering, located at 15601 Dallas Parkway, Suite 600, Addison, Texas 75001; or by calling 866.655.3600 toll-free; or by visiting http://www.behringerharvard.com/prospectuses/multifamily.aspx.