Press Releases

BPG ANNOUNCES SALE OF THE CAMPUS AT SUNRISE IN RESTON, VA TO GROSVENOR FOR $63,000,000

<p><b>Reston, VA. – (October 3, 2011) – </b>BPG Properties, Ltd., one of the nation’s leading private equity real estate fund managers, announced the sale of The Campus at Sunrise, a 254,280 square foot office park in Reston, Virginia, to Grosvenor Americas for $63,000,000. The three building office park is located along Sunrise Valley Drive, minutes from the Hunter Mill Road and Wiehle Avenue exits of the Dulles Toll Road. Rick Siegel and Paul Hanafin of West, Lane & Schlager Realty Advisors represented the parties in the transaction. </p> <p>The Campus at Sunrise consists of 11180 Sunrise Valley Drive, 11190 Sunrise Valley Drive and 11130 Sunrise Valley Drive. 11180 Sunrise Valley Drive is a four-story, 78,648 square foot office building, providing prominent Dulles Toll Road visibility and signage opportunities. Situated adjacent to 11800 Sunrise Valley Drive is 11190 Sunrise Valley Drive, a three-story, 108,157 square foot office building. It features many upgrades and amenities including an on-site café with outdoor seating overlooking a distinctive water feature and a state-of-the art fitness center with shower and locker room facilities.</p> <p>BPG acquired the property in 2005 on behalf of BPG Investment Partnership VII, L.P. (“Fund VII”), a fully discretionary private equity fund with total equity commitments of $550 million. The firm made substantial improvements to the property including lobby renovations, common area upgrades and the addition of a fitness center and deli. The renovations enabled BPG to increase occupancy from 14 percent at the time of acquisition to 84percent today. </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 24 million square feet of office, retail, student housing, and industrial properties and more than 18,000 apartment units in over 70 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 www.bpgltd.com. <p> <b>For additional information on BPG Properties, Ltd., please contact: </b><br> Joseph G. Nahas, Jr., Vice President, 215-575-2363 <p> <b>For additional information on the transaction, please contact: </b><br> Christopher J. Locatell, Vice President, 215-575-2349