Press Releases


<p><b>Tewksbury, Ma. – (April 7, 2008) -</b>BPG Properties, Ltd. (BPG), one of the nation’s leading private equity real estate fund managers, announced the execution of a 16,758 square foot lease with Mitralign, Inc. and a 18,746 square foot renewal and expansion with AARP Financial Inc. (“AARP Financial”) at Highwood Office Park in Tewksbury, Massachusetts. Mitralign will be moving into Three Highwood, a two-story 104,445 square foot office building, while AARP Financial will expand its current offices at Two Highwood, a two-story, 82,193 square feet office building.</p> <p>“We are pleased that both Mitralign and AARP Financial chose to remain and expand at Highwood Office Park. Their decision is a testament to the value that the park delivers to tenants in a quality location and price,” commented Michael Rota, asset manager in BPG’s Boston Regional Office.</p> <p>Previously a subtenant in the park, Mitralign, Inc. is a start-up medical device company that is developing an innovative, catheter-based method to effectively treat mitral regurgitation in patients suffering from Congestive Heart Failure. The company’s goal is to emulate the technique employed in traditional open heart surgical repair but in a far less invasive manner.</p> <p>AARP Financial Inc. is a wholly owned taxable subsidiary of AARP. The company is dedicated to helping people age 50 and over prepare for a more secure financial future by offering products and services designed to meet their retirement needs.</p> <p>Mark Reardon of CB Richard Ellis represented Mitralign, Inc. in the lease negotiations. Matt Adams and Dave Pergola of Cushman & Wakefield provided assistance with both transactions. Office suites from 5,000 square feet to 20,000 square feet are currently available for immediate move-in.</p> <p>The three buildings at Highwood Office Park vary in size from 82,193 square feet to 104,445 square feet. Built between 1987 and 1999, the buildings are similar in design with attractive red brick exteriors and steel frame construction. Highwood Office Park is centrally located in Boston’s northern suburbs within 30 minutes of Boston and Logan International Airport. It is located at the intersection of Interstate 495 and Route 133 and is within five miles of In¬terstate 93 and Route 3. The office park is also home to a full service hotel with a restaurant and health club.</p> <p>Since acquiring the property in 2005, BPG has added an on-site café and fitness center in Two Highwood. In fall 2007 BPG Management Company took over as property manager. BPG is currently completing a major capital improvement program for the park. Improvements include lobby renovation in each of the buildings, an expansion of the fitness facility, an upgrade of the lighting and fixtures, and renovation in the restrooms.</p> <b>About BPG Properties, Ltd.</b><br> BPG Properties, Ltd. is one of the nation’s leading private equity real estate fund managers. BPG’s portfolio consists of over 20 million square feet of office, retail, student housing, and industrial properties and more than 25,000 apartment units in more than 100 communities located throughout the United States. The firm is headquartered in the Philadelphia area with regional offices in Chicago, Los Angeles, Washington DC, Boston, Atlanta and Raleigh-Durham. For more information, please visit the company’s website at<br> <br> <b>For additional information on BPG Properties, Ltd., please contact:</b><br> Holly Reynolds, Vice President, (215) 575-2363<br> <br> <b>For additional information on the property, please contact:</b><br> Michael Rota, Asset Manager, (781) 577-2707<br>