Press Releases

LOWER MAKEFIELD CORPORATE CENTER CONTINUES ITS MOMENTUM AS RECENT LEASES SIGNED BRING OCCUPANCY TO 97%; TENTH OFFICE BUILDING UNDER CONSTRUCTION

<p><b>Philadelphia, PA. – (October 20, 2008) - </b>BPG Properties, Ltd., one of the nation’s lead private equity fund managers, announced that recent leasing activity at the firm’s 500,000 square foot Lower Makefield Corporate Center in Lower Bucks County has brought the occupancy level at the office campus to 97%, and completed the leasing for the most recent building developed on the South Campus, 790 Township Line Road. The ten building low rise office campus is located along Interstate 95 at the Route 332 exit in Yardley, Bucks County, Pennsylvania.</p> <p>As a result of the high occupancy and continued tenant demand, BPG began construction of their tenth Class A office building in Lower Makefield Corporate Center, 1000 Floral Vale, a 90,000 square foot, four-story Class A office building in August 2008.</p> <p>“1000 Floral Vale will provide an exceptional opportunity for companies to relocate or expand in the Bucks County area,” commented Stephen M. Spaeder, president of BPG Development Company, L.P. who will oversee the development of the building. “The success of Lower Makefield Corporate Center, as evidenced by the 97% occupancy rate, demonstrates the desirability of quality office space in this area, midway between Princeton and Philadelphia.”</p> <p>When completed in May of 2009, 1000 Floral Vale will offer professional office space in a highly efficient office building with a precertification design level of LEED™ Gold certification. It is the first Gold level building that BPG has undertaken in Pennsylvania since the firm made its commitment to pursue only green building construction at LEED™ certification standards in May 2007. BPG completed its first green building, 1000 Continental, a 200,000 SF office building that has a precertification design level of LEED™ Silver in October 2007.</p> <p>The exterior of the building will consist of brick and glass with a central four-story glass faced entrance facing Floral Vale Boulevard. The floor plates are approximately 20,000 square feet, allowing for maximum efficiency and flexibility for space planning.</p> <p>The project architect is Wulff Architects. IMC is the general contractor. Jim Kinzig and Kim Harris of Aegis Property Group are handling the leasing of 1000 Floral Vale Boulevard as well as the balance of Lower Makefield Corporate Center.</p> <p>Lower Makefield Corporate Center, a masterplanned office development, is owned by affiliates of BPG Properties, Ltd. interests.</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 www.bpgltd.com.<br> <br> <b>For additional information on BPG Properties, Ltd., please contact:</b><br> Holly T. Reynolds, Vice President, at (215) 575-2363<br> <br> <b>For additional information on 1000 Floral Vale Boulevard, please contact:</b><br> Stephen M. Spaeder, Senior Vice President, at (215) 575-2387