Press Releases

INOVA SIGNS 51,611 SF LEASE AT BPG'S 8111 GATEHOUSE ROAD IN MERRIFIELD, VA

<p><b>PHILADELPHIA, PA. – (April 2, 2012) –</b> BPG Properties, Ltd., one of the nation’s leading private equity real estate fund managers, announced today that Inova Health Care Services has executed a lease for 51,611 square feet at 8111 Gatehouse Road, a 282,000 square foot office building located at the interchange of Route 50 and Interstate 495 in Merrifield, Virginia. </p> <p>“We are pleased to announce that Inova has chosen 8111 Gatehouse Road,” commented Brian J. Fitzgerald, senior vice president and director of BPG’s Washington DC Regional Office. “Inova is an excellent addition to our building, which is currently home to Accenture, the Defense Logistics Agency and our corporate offices.” </p> <p>Inova was represented in the lease negotiations by Chuck Matincheck of Donohoe Real Estate Services. The landlord was represented by Dave Millard, Peter Berk, Nick Gregorios and Marty Almquist of Avison Young, the building’s exclusive leasing team. </p> <p>BPG acquired 8111 Gatehouse Road in the fourth quarter 2006 in a short term sale leaseback from the American Red Cross which had operated its headquarters at the property until its move to downtown Washington, D.C. in 2008. In 2009, BPG completed extensive renovations to the building including the main lobby, upper floor elevator lobbies restrooms and building system upgrades throughout. </p> <p>8111 Gatehouse Road is located just seconds from both Route 50 and Interstate 495 with easy access to downtown Washington, D.C., the Pentagon, Route 66, the Dulles Corridor and is just five minutes from Tysons Corner. Public transportation is available with access to Metrorail via the building’s exclusive shuttle service as well as the Metrobus and Fairfax Connector bus networks. It has 765 spaces of under building and surface parking as well as on-site fitness center. It is also within walking distance to 10 restaurants, shopping and lodging. </p> <p>Currently, there is 140,000 square feet of space available for lease. </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 24 million square feet of office, retail, student housing, and industrial properties and more than 18,000 apartment units in over 70 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. <p> <b>For additional information on BPG Properties, Ltd., please contact:</b><br> Joseph G. Nahas, Jr., Vice President, 215-575-2363 <p> <b>For additional information on the transaction, please contact:</b><br> Brian J. Fitzgerald, Senior Vice President, 703-391-1482<p>