Press Releases

BPG ANNOUNCES NEW LEASE WITH STATE FARM INSURANCE AT KEYSTONE AT THE CROSSING IN INDIANAPOLIS, IN

<p><b>INDIANAPOLIS, IN – (September 7, 2011) –</b> BPG Properties, Ltd., one of the national’s leading private equity real estate fund managers, announced today that State Farm will be moving into 9200 Keystone Crossing in Indianapolis, Indiana. The company will use 88,408 square feet of the eight story, 146,801 square foot office building. The property is part of BPG’s Keystone at the Crossing complex, a one million square foot campus consisting of five mid-and high-rise office buildings located at the intersection of Interstate 465 and Keystone Avenue. State Farm is relocating its operations from Parkwood Crossing in Indianapolis and consolidating other regional locations to this facility. Employees will mainly handle claims out of this building.</p> <p>“BPG is extremely pleased to welcome an exceptional and established company like State Farm to Keystone at the Crossing ,” said Brant Glomb, vice president of BPG who is responsible for asset management of the property. “Our recent redevelopment efforts, coupled with the complementary amenities of the adjoining Fashion Mall and neighbor hotels, make Keystone at the Crossing one of the most desired locations within the Indianapolis metropolitan area.”</p> <p>State Farm (www.statefarm.com) insures more cars and homes than any other insurer in the U.S. In Indiana, the company insures one in four homes and cars. Their 531 agents and 1,058 employees in Indiana serve the customers of over 2.12 million auto, fire, life and health policies. State Farm is ranked No. 37 on the Fortune 500 list of largest companies.</p> <p>State Farm was represented in the lease negotiations by Aasif Bade of Ambrose Property Group. The landlord was represented by John Robinson and Abby Cooper of Jones Lang LaSalle’s Indianapolis office, the exclusive leasing agents for the property. </p> <p>Keystone at the Crossing is Indianapolis’ only fully integrated office, retail and residential development. It adjoins two full service hotels, Marriott and Sheraton, and the 600,000 square foot Fashion Mall, offering 95 specialty stores. Since acquiring the complex in December 2005, BPG has completed $12 million in improvements, adding amenity areas as well as upgrading lobbies, corridors and restrooms throughout the complex. </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 nearly 19,000 apartment units in more than 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 Keystone at the Crossing, please contact: </b><br> Brant Glomb, Vice President, 312-673-3593