Press Releases


<p><b>Philadelphia, Pa. - (March 3, 2008) – </b>BPG Properties, Ltd. (BPG), one of the nation’s leading private equity real estate fund managers, announced that Spring Lake Business Center in Jacksonville, Florida has been recognized as the Suburban Office Park of the Year 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 building and awarding excellence in office building management. All facets of the building’s operations are thoroughly evaluated including tenant relation programs, community involvement, emergency preparedness security standards and continuing education programs for personnel.</p> <p>“We are extremely pleased that Spring Lake Business Center has been honored with the TOBY award,” said Peter Shatz, asset manager for BPG. “We believe this recognition is reflective of BPG’s commitment to the property and its tenants, along with the professionalism and dedication of our property management team, CB Richard Ellis.”</p> <p>BPG purchased the 230,276 square foot property in July 2005 on behalf of BPG Investment Partnership VII, L.P., a fully discretionary private equity fund with total equity commitments of $550 million. Since then, BPG has undertaken a capital improvement campaign including upgrades to the parking lots, new exterior signage and light fixtures throughout the campus, and extensive renovations of the buildings’ common areas. The complex consists of four three-story and four one-story office buildings that feature spacious offices with lake views, 24-hour security, a conference center, and responsive on-site property management.</p> <p>Located on 16 acres in one of Jacksonville’s fastest growing suburban areas, Spring Lake Business Center has an inviting campus atmosphere where tenants and guests enjoy an executive putting green, walking paths, a spring-fed lake with overlooking decks, a gazebo, and the Lakeside Café restaurant with an outdoor seating area.</p> <b>About BPG Properties, Ltd.</b><br> BPG Properties, Ltd. is a private equity real estate fund manager based in the Philadelphia area. 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 over 100 communities located throughout the United States. For additional information on BPG, please visit <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 Spring Lake Business Center, please contact:</b><br> Peter Shatz, Asset Manager for BPG, at (919) 865-0306