Press Releases


<p><b>SAN JOSE, CA - (December 10, 2009) – </b>BPG Properties, Ltd. (BPG), one of the nation’s leading private equity real estate fund managers, announced today that Cityview Plaza has been recognized as the 2009 Office Building of the Year (TOBY) by the Silicon Valley Building Owners and Managers Association (BOMA) to salute excellence in the office building industry. The award comes on the heels of 46,000 SF in new leases recently approved at Cityview Plaza, including the largest new lease in downtown San Jose this year.</p> <p>The TOBY Award remains the most prestigious and comprehensive program of its kind in commercial real estate, recognizing quality in office buildings and awarding excellence in office building management. All facets of the building’s operations are thoroughly evaluated including tenant relation programs, community involvement, emergency preparedness security standards and continuing education programs for personnel. </p> <p> “We are extremely pleased that Cityview Plaza has been honored as the most outstanding office building in the region,” said Jonathan Praw, Vice President of BPG’s Los Angeles office. “This award reflects BPG’s commitment to the property and downtown San Jose as well as tenants’ recognition of the value of Cityview Plaza’s location and recent capital improvements. The addition of RSM McGladrey and the URS Corporation to the list of tenants that call Cityview Plaza their Silicon Valley headquarters reaffirms Cityview Plaza as the hub of downtown San Jose business.” </p> <p>The renovations, central location and excellent management have attracted a number of new tenants to the property this year. Since September, Cityview Plaza has signed over 46,000 square feet in new leases, including URS Corporation, representing the largest lease completed in 2009 in downtown San Jose at 18,000 square feet. URS, a Fortune 500 company, is a global, fully integrated engineering, construction and technical services firm. URS Corporation was represented by broker Eric Danielson of Studley Inc. </p> <p>Other leases were signed by RSM McGladrey, an accounting, tax and business consulting firm at 7,000 square feet; The Institute of Medical Education at 14,255 square feet; GED Law Firm at 4,644 square feet and Library World at 2,948 square feet. RSM McGladrey and The Institute of Medical education were represented by brokers from Colliers International. GED Law Firm and Library World were represented by Ritchie Commercial. <p>Cityview Plaza is a mixed use Class A campus consisting of nine high rise and mid rise office buildings and retail and restaurant space totaling 600,437 square feet, united by a newly designed plaza area with outdoor seating, artwork and water features. The project covers an entire city block in the San Jose center business district and played host to the National Kidney Foundation’s annual walk in May, a fundraiser for which BPG was the host and main sponsor. </p> <p>BPG purchased Cityview Plaza in October 2007 on behalf of BPG Investment Partnership VIII, L.P. (BPG Fund VIII), a fully discretionary private equity fund with total equity commitments of $850 million. Since acquisition, BPG has undertaken a $10 million capital improvements campaign, including upgrades to the building exteriors, new exterior signage, new landscaping, installation of a state-of-the-art fitness and conference center and extensive renovations to the buildings’ common areas. Cityview Plaza offers additional amenities including extensive on-site parking garage, two high-end restaurants, cafes and several commercial banks. It also offers tenants free access to the state-of-the art fitness center and conference center. </p> <p>BPG Fund VIII is actively seeking additional real estate investments in major metro areas throughout the country.</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 Los Angeles, Chicago, Washington DC, Boston, Atlanta and Raleigh-Durham. For additional information, please visit the company’s website at<p> <b>For additional information on BPG Properties, Ltd., please contact: </b><br> Holly Reynolds, Vice President, 215-575-2363<p> <b>For additional information on Cityview Plaza, please contact: </b><br> Jonathan Praw, Vice President, 310-725-8435