Behringer Harvard, Brookfield invest in DC luxury high-rise

The Texas-based real estate investor is planning a luxury residential project in suburban Washington, DC.

Behringer Harvard, Brookfield Real Estate Opportunity Fund and Virginia developer Fairfield Residential are partnering on the development of Cameron House, a 15-story luxury high-rise apartment building in the Washington, DC suburb of Silver Spring, Maryland.

The firm said in regulatory filings the project would cost $128.9 million (€87.2 million) to develop and is scheduled to be completed by the end of 2009.

Upon completion, Cameron House will comprise approximately 302,469 square feet of rentable space with 325 apartments, including one- and two-bedroom units. The property will also feature a clubhouse and 7,330 square feet of retail space as well as a rooftop pool and ample parking.

The Dallas-based firm has been busy in the Washington, DC area. Last summer, Behringer announced it was partnering with Brookfield Real Estate Opportunity Fund and Fairfield Residential on the development of a four-building multifamily residential project in Fairfax County, Virginia. Plans for the luxury complex include a club room and social area, fitness center, computer lab, business center, pub and media room as well as a swimming pool, cabana and deck area.