Press Releases


<p><b>PHILADELPHIA, PA. - (May 5, 2009) – </b>BPG Properties, Ltd. (BPG), one of the nation’s leading private equity fund managers, announced today that it signed a long-term lease agreement with Fiserv Automotive Solutions, Inc. (Fiserv) for 89,817 square feet at Executive Terrace, a 131,507 square foot Class A office building, in King of Prussia, Pennsylvania. This transaction represents a 44,056 square foot expansion of Fiserv’s existing space at Executive Terrace, increasing the occupancy rate to 91%.</p> <p>As part of the transaction, an affiliate of BPG will acquire 1250 Drummers Lane, a 58,000 square foot office building, currently owned and occupied by USERS, a unit of Fiserv, a Fortune 500 company that provides information management and electronic commerce systems and services to the financial and insurance industries. USERS will be relocating to Executive Terrace and vacating 1250 Drummers Lane in the fourth quarter 2009. </p> <p>The tenant was represented by Phil McCarthy and Kevin McShea of Transwestern. The landlord was represented by the property’s exclusive leasing agent, John Perkins of Grubb & Ellis.</p> <p>“We were pleased to assist Fiserv in implementing its real estate strategy of consolidating business units into one location while at the same time providing them a means of disposing of an unneeded asset at 1250 Drummer’s Lane,” commented Stephen M. Spaeder, senior vice president of BPG, who along with vice presidents Robert Cook and Neil Gallagher negotiated the lease and purchase agreements.</p> <p>Executive Terrace is located on South Gulph Road and offers visibility along the Schuylkill Expressway (I-76) and easy access to Route 202 and 422, the Schuylkill Expressway and the Pennsylvania Turnpike. The four-story building has a four-story glass enclosed atrium lobby, a newly renovated café, award winning landscaping and complimentary concierge services.</p> <p>1250 Drummers Lane is three-story Class A office building, situated minutes from Route 202, in Exton, Tredyffrin Township, Pennsylvania. It offers a private campus setting, overlooking the golf course at Glenhardie Country Club. The building has an on-site data center, café and 500 kVA generator for full building backup. The property is approved for a contiguous building expansion of up to 50,000 square feet. It building is being marketed for lease by John Perkins of Grubb & Ellis.</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<br> <br> <b>For additional information on BPG Properties, Ltd., please contact:</b><br> Holly T. Reynolds, Vice President, at (215) 575-2363<br> <br> <b>For additional information on Executive Terrace and 1250 Drummers Lane, please contact:</b><br> Robert Cook, Vice President, at (215) 575-2485