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| QUARTER ENDED JUNE 30, 2015 15601 Dallas Parkway, Suite 600 Addison, TX 75001 866.655.3600 behringerinvestments.com Conclusion The Company is continuing to work through the asset disposition phase of its lifecycle as expeditiously as possible while capturing value for shareholders. (in thousands, except per share data) 3 mos. ended June 30, 2015 3 mos. ended June 30, 2014 6 mos. ended June 30, 2015 6 mos. ended June 30, 2014 FFO per share $ 0.02 $ 0.02 $ 0.01 $ – Thursday, November 19, 2015 Distributions per share $ – $ – $ – $ – June 30, 2015 Dec. 31, 2014 Total assets $ 313,721 $ 314,492 2 (in thousands, except per share amounts) 3 mos. ended June 30, 2015 3 mos. ended June 30, 2014 6 mos. ended June 30, 2015 6 mos. ended June 30, 2014 Adjustments for: Real estate depreciation and amortization2 3,475 3,805 7,069 7,338 – (476) (36) (476) real estate FFO3 $ 1,249 $1,002 $ 512 $ 362 Las Colinas Commons in Irving, Texas FFO per share $ 0.02 $ 0.02 $ 0.01 $ – FORWARD-LOOKING STATEMENTS This material contains forward-looking statements relating to the business and financial outlook of Behringer Harvard Opportunity REIT I, Inc. that are based on our current expectations, estimates, forecasts, and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. A number of important factors could cause actual results to differ materially from the forward-looking statements contained in this material. Such factors include those described in the Risk Factors sections of Behringer Harvard Opportunity REIT I, Inc.’s filings with the Securities and Exchange Commission. Forward-looking statements in this material speak only as of the date on which such statements were made, and we undertake no obligation to update any such statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Published 09/15 © 2015 Behringer 3212-1 OP1 Q2 Report 2015 1Includes impairment of our investments that resulted from a measurable decrease in the fair value of our depreciable real estate. 2Includes our consolidated depreciation and amortization expense, as well as our pro rata share of those unconsolidated investments which we account for under the equity method of accounting and the noncontrolling interest adjustment for the third-party partner’s share. 3FFO (Funds From Operations) should not be considered as an alternative to net income (loss), or as indications of our liquidity, nor is it either indicative of funds available to fund our cash needs, including our ability to fund distributions. FFO should be reviewed in connection with other GAAP measurements. A reconciliation of FFO and FFO-per-share to net income can be found in our second quarter Form 10-Q on file with the SEC. Net loss per share$(0.05) $(0.04) $(0.13) $(0.12) GAAP weighted average shares, basic56,50056,50056,50056,500 and diluted Gain on sale of Impairment charge1 616–616– Net loss$(2,842) $(2,327) $(7,137) $(6,500) Reconciliation of FFO to Net Loss Total liabilities$188,032 $180,454 (in thousands)As of As of Distributions declared $– $–$–$– FFO $1,249 $1,002$512$362 THIRD QUARTER UPDATE CALL THURSDAYPlease join us for the third NOV.quarter conference call on 19at 1:00 pm Central Time. Further details about this call will be included in your next quarterly statement. Financial Highlights I |