Press Releases


<p><b>PHILADELPHIA, Pa. – (July 7, 2008) – </b>BPG Properties, Ltd. (BPG), one of the nation’s leading private equity real estate fund managers, announced the sale of 200 Tournament Drive, a 90,845 square foot office building, to an undisclosed purchaser for $18,682,409. An affiliate of BPG acquired the three-story, office building in Horsham, Pennsylvania in 2004 as part of a larger multi-property portfolio acquisition in New Jersey, New York and Pennsylvania on behalf of BPG Investment Partnership VI, a $384 million private equity fund sponsored by BPG.</p> <p>"This transaction marks the successful completion of our value-add strategy for this property," commented Robert Cook, Vice President of BPG who was in charge of the asset management and sale of the property. "During 2005, we successfully redeveloped and leased the entire building." </p> <p>200 Tournament Drive is a Class A office building situated within Commonwealth Corporate Center in Horsham. The property enjoys attractive vistas along Commonwealth Golf Club. The building was originally constructed in 1989 and fully renovated in 2005. It is within a five-minute drive of the Pennsylvania Turnpike and is one mile from Route 611.</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 <p> <b>For additional information on BPG Properties, Ltd., please contact:</b><br> Holly Reynolds, Vice President, 215-575-2363