InvestmentNews is reporting that the Behringer Harvard Strategic Opportunity Fund I owes more money than it can pay, that its liabilities exceed its assets (“Behringer Harvard opportunity fund under water”). “Behringer Harvard informed brokers last week of the fund’s problems and is preparing to inform investors by Friday,” according to the article. The Behringer Harvard Strategic Opportunity Fund I raised $65 million from investors, while a related fund, Strategic Opportunity Fund II, raised $62 million.
That news is expected to hit investors like a bombshell, although Behringer Harvard and its investors have suffered losses in other funds as well.
Many of the Behringer Harvard funds have experienced significant problems. Behringer Harvard Opportunity REIT I declined by 46% at the end of 2011 to $4.12 a share, down from $7.66 the previous year, and one the properties in that REIT filed for bankruptcy protection. The Behringer Harvard Short-Term Opportunity Fund I LLP reportedly declined 40 cents a share in 2011.
Investors who have suffered losses in Behringer Harvard funds may have compelling claims to recover their losses.
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