Press Releases

BPG PROPERTIES, LTD. ANNOUNCES NEW NAME, NEW LOOK FOR DOWNTOWN SAN JOSE COMPLEX

<p><i>Park Center Plaza renamed Cityview Plaza; $10 million in upgrades under way</i></p> <p><b>San Jose, Ca. - (March 3, 2008) — </b>BPG Properties, Ltd. (BPG), one of the nation’s leading private equity real estate fund managers, is bringing a new name and a new look to the 600,000 square-foot mixed-use complex at Market Street and Park Avenue in the heart of downtown San Jose.</p> <p>Formerly known as Park Center Plaza, the nine-building, 11-acre office and retail property is being reintroduced by BPG as Cityview Plaza and is undergoing a $10 million makeover. An affiliate of BPG acquired the property in 2007.</p> <p>“We chose this name because it reflects the property’s premier location within the city and speaks to the expansive views of the plaza and the downtown area, including Plaza de Cesar Chavez across the street,” said Andrew White, senior vice president and head of BPG’s Los Angeles regional office.</p> <p>Currently, BPG is investing $10 million in capital improvements including:</p> <ul> <li>New, more inviting entrance points to the complex</li> <li>Fresh landscape design and free Wi-Fi on the plaza</li> <li>Renovated lobby entries at 125 Market Street and 177 Park Avenue</li> <li>New gateway signage and storefronts at 185 Park Avenue <li>New entry canopies, lobby renovations and renovated restrooms at 100 West San Fernando Street</li> <li>Significant common area improvements and restroom renovations on selected floors at 150 N. Almaden Blvd.</li> <li>Additional restaurant amenities at 104 South Market Street</li> </ul> <p>Already under way, the renovations are slated for completion by third quarter 2008.</p> <p>“With these changes, Cityview Plaza is positioned to become the energetic hub of choice for growing businesses in the downtown San Jose market,” White added. “We’re looking forward to creating a dynamic and inviting plaza setting that will serve tenants and the community alike.”</p> <p>Covering almost an entire city block, Cityview Plaza combines 553,754 square feet of office space with 46,687 square feet of retail and restaurants including Morton’s Steakhouse, Scott’s Seafood and a Starbucks café. On-site amenities include fitness facilities, a conference center and parking for 1,074 cars. Attractions within walking distance include the convention center, HP Pavilion and Fairmont Hotel, the Tech Museum and the performing arts center. Cityview Plaza’s location also takes advantage of the current housing boom in downtown San Jose, which is poised to deliver 533 luxury condominium units within the next four months.</p> <p>Office space available at Cityview Plaza ranges from 1,200 square feet to 69,000 square feet. Retail opportunities next to Plaza de Cesar Chavez also are available. For leasing information contact Colliers International at (480) 283-3800.</p> <b>About BPG Properties, Ltd.</b><br> BPG Properties, Ltd. is one of the nation’s leading private equity real estate fund managers. The firm’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. In the West affiliates of BPG own and operate properties in Las Vegas, Los Angeles, Phoenix, Portland, Salt Lake City, the San Francisco Bay area, San Jose and Seattle. BPG is based in the Greater Philadelphia area and has regional offices in Chicago, Washington DC, Los Angeles, 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 Reynolds, Vice President, at (215) 575-2363<br> <br> <b>For additional information on Cityview Plaza, please contact:</b><br> Andrew White, Senior Vice President, at (310) 725-8431