Press Releases


<p><b>MESA, AZ. - (September 22, 2008)</b> – BPG Properties, Ltd. (BPG), one of the nation’s leading private equity real estate fund managers, announced that Mesa Financial Plaza has been recognized as the 2008 Renovated Building of the Year in Phoenix, AZ, by the Building Owners and Managers Association (BOMA). The honor otherwise known as the TOBY Award was created by BOMA International in 1985 to salute excellence in the office building industry.</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 community involvement and site management to environmental and "green" policies and procedures.</p> <p>“We are extremely pleased that Mesa Financial Plaza has been honored with the TOBY award,” said Jonathan Praw, asset manager for BPG. “We believe this recognition is reflective of BPG’s commitment to the property and the professionalism and dedication of our property management team, CB Richard Ellis, in serving the tenants at the building.”</p> <p>BPG purchased the 16 story, 309,983 square foot property in July 2007 on behalf of BPG Investment Partnership VIII and VIIIA, L.P., a fully discretionary private equity fund with total equity commitments of $850 million. Since then, BPG has undertaken a capital improvement campaign including chiller replacement, energy management system controls upgrade, new security/building access card system, main lobby and full floor renovations, including restroom upgrades.</p> <p>Financial Plaza is the only Class “A” high rise in the Southeast Valley, offering landmark visibility and expansive views of the entire metropolitan area. The building provides professional office space and a two-story atrium lobby with high quality finishes, along with conference facilities, a combination of both surface and structured parking and on-site security personnel. The building is also conveniently located across from the Fiesta Mall, which is currently being renovated and is close to many restaurants and retail centers.</p> <p>BPG has been increasing their portfolio size in the greater Phoenix area. Last month, BPG announced the acquisition of Scottsdale Financial Center I, a 104,949 square foot office building located in Scottsdale, AZ. BPG is planning an extensive $3 million capital improvement program to renovate common areas including lobbies, entrances, restrooms, corridors, landscaping and building HVAC and security systems.</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 Reynolds, Vice President, 215-575-2363<br><br> <b>For additional information on Mesa Financial Plaza, please contact:</b><br> Jonathan Praw, Asset Manager, 310-725-8435