Press Releases


<p><b>SPARKS, MD. – (May 19, 2009) – </b>BPG Properties, Ltd. (BPG), one of the nation’s leading private equity real estate fund managers, announced today that Fundamental Administrative Services, LLC (Fundamental) has executed a full building lease at 920 Ridgebrook Road, a 94,071 square foot, three-story Class A office building, located within Tower Point at The Highlands, a three building premier office campus situated a short distance off the Shawan Road Exit of Interstate 83 near Hunt Valley Towne Centre in Sparks, Maryland.</p> <p>“We are pleased that Fundamental has chosen to remain at Tower Point at the Highlands,” commented Roger Byecroft, vice president of BPG who negotiated the lease on behalf of the landlord. “We are working closely with Fundamental to insure that their new space is designed and built for maximum efficiency and ease of operation for the firm’s business and employees.”</p> <p>The lease transaction allowed Fundamental to consolidate operations from two buildings into one and redesign its space for greater efficiency and improved departmental synergy. In addition, Fundamental will construct a new, in- building fitness center facility for its employees, adjacent to the building’s existing full service cafeteria. Once completed in the fourth quarter 2009, the consolidation will leave 930 Ridgebrook Road, a 72,406 square foot, three-story Class A office building, available for lease.</p> <p>Fundamental was represented by Richie Blue of Blue & Obrecht Realty, LLC in the lease negotiations. The landlord was represented by Hayes Merkert, Athan Sunderland and Danielle Schline of Preston Partners, Inc., the property’s exclusive leasing agents.</p> <p>BPG acquired the three building, 221,234 square foot Class A office campus in the first quarter 2005 on behalf of BPG Investment Partnership VI, L.P., a $384 million private equity fund. Since the acquisition, the firm sold 910 Ridgebrook Road, a 56,000 square foot office building and has obtained municipal approvals to develop up to 103,000 square feet of additional office space at a newly entitled site adjacent to the existing buildings.</p> <p>The 60-acre corporate park is in close proximity to Hunt Valley Towne Centre, a new lifestyle center offering a wide range of eateries and shopping opportunities. The surrounding area includes some of the most exclusive housing in the Baltimore suburbs.</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 Tower Point at the Highlands, please contact:</b><br> Roger Byecroft, Vice President, 703-491-1485