Monogram Residential Trust (BHORL) SC 13D Monogram Residential Trust, Inc.

EXHIBIT 99.1

JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(k)(1)

The undersigned acknowledge and agree that the foregoing statement on Schedule 13D is filed on behalf of each of the undersigned and that all subsequent amendments to such statement on Schedule 13D shall be filed on behalf of each of the undersigned without the necessity of filing additional joint filing statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the other entity or person, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

Dated:  December 22, 2014

MIRELF V REIT Investments LLC		MIRELF V REIT
By:	MIRELF V REIT,	By:	Madison International Real Estate Liquidity Fund V, LP,
	its Managing Member		its Trustee
By:	Madison International Real Estate Liquidity Fund V, LP,	By:	Madison International Holdings V, LLC,
	its Trustee		its General Partner
By:	Madison International Holdings V, LLC,	By:	/s/ Ronald M. Dickerman
	its General Partner		Ronald M. Dickerman, Managing Member
By:	/s/ Ronald M. Dickerman
	Ronald M. Dickerman, Managing Member
Madison International Real Estate Liquidity Fund V, LP		Madison International Holdings V, LLC
By:	Madison International Holdings V, LLC,	By:	/s/ Ronald M. Dickerman
	its General Partner		Ronald M. Dickerman, Managing Member
By:	/s/ Ronald M. Dickerman
	Ronald M. Dickerman, Managing Member
Madison International Realty V, LLC		Ronald M. Dickerman
By:	/s/ Ronald M. Dickerman		/s/ Ronald M. Dickerman
	Ronald M. Dickerman, Managing Member