Press Releases


<p><b>PHILADELPHIA, PA. – (July 30, 2010) – </b>BPG Properties, Ltd. (BPG), one of the nation’s leading private equity real estate fund managers, announced today the execution of a lease, totaling approximately 150,000 square feet, with IMS Health Incorporated (IMS Health) at Highview I and Highview II at Providence Corporate Center in Collegeville, Pennsylvania. </p> <p>“We are pleased to have completed this transaction with IMS,” commented Stephen M. Spaeder, senior vice president of BPG who along with vice presidents Neil Gallagher and Robert Cook oversaw the transaction on behalf of the landlord. </p> <p>Operating in more than 100 countries, IMS Health is the world’s leading provider of market intelligence to the pharmaceutical and healthcare industries. With more than 55 years of industry experience, IMS Health offers leading-edge market intelligence products and services that are integral to clients’ day-to-day operations, including product and portfolio management capabilities; commercial effectiveness innovations; managed care and consumer health offerings; and consulting and services solutions that improve productivity and the delivery of quality healthcare worldwide. </p> <p>Ron Cariola of Jones Lang LaSalle represented IMS Health in the lease negotiations. The landlord was represented by Whitney Hunter and Michael Morrone of Jones Lang LaSalle.</p> <p>Highview I and II were developed by BPG in 2002 as a 100 percent build-to-suit lease agreement with Wyeth Pharmaceuticals, which now operates as Pfizer. In 2009, Pfizer chose to exercise its year end 2010 termination option for the lease at Highview II thereby making the space available for re-lease to IMS. Additionally, Pfizer chose to negotiate a termination of its lease at Highview I which ran through 2013 in order to vacate the space and accommodate the expanded transaction for IMS. </p> <p>Highview at Providence Corporate Center is located off of the Route 422 expressway at its intersection with Route 29. It is less than ½ mile from Providence Town Center, a 750,000 square foot retail development, anchored by Wegman’s that opened in 2009. The surrounding area has experienced population and business growth within the past ten years and offers an excellent labor pool and easy access to the region’s most traveled highways and commercial centers. Currently, at the interchange, more than four million square feet of office and lab space is occupied by such leading companies as Pfizer, GlaxoSmithKline and Quest Diagnostics.</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 25 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> Joseph G. Nahas, Jr., Vice President, 215-575-2363<p> <b>For additional information on the transaction, please contact:</b><br> Stephen Spaeder, Senior Vice President, 215-575-2386