Press Releases

BPG PROPERTIES, LTD. ANNOUNCES NEW LEASES TOTALING OVER 37,000 SF AT 1000 CONTINENTAL IN KING OF PRUSSIA, PA

<i>1000 Continental meets growing market demands with LEED™ Silver Certification</i> <p><b>Philadelphia, Pa. – (March 2, 2009)</b> – BPG Properties, Ltd (BPG), one of the nation’s leading private equity real estate fund managers, announced the execution of leases totaling 37,390 square feet with Nationwide Funds Group and Grubb & Ellis at 1000 Continental Drive, a 200,000 square foot, Class A office building in King of Prussia, Pennsylvania. Nationwide Funds Group will lease 29,615 square feet and Grubb & Ellis will lease 7,775 square feet joining current tenants: The Hartford Financial Services Group, Inc. (The Hartford), Specialty Risk Services (SRS) subsidiary, Capital One® and Worldwide Clinical Trials (Clinical Worldwide). <p> In addition, 1000 Continental, the only building in the King of Prussia market to be designed and engineered for LEED™ certification, has officially achieved LEED™ Silver certification, one of the highest levels available. 1000 Continental offers tenants the ability to maximize utility efficiencies by taking advantage of breakthroughs in building science, technology and sound environmental practices. The building’s sustainable design helps tenants maximize and sustain a high level of building performance, reduce the usage of natural resources and create an overall healthier work environment for its employees. <p> “We are pleased to welcome Nationwide Funds Group and Grubb & Ellis to 1000 Continental,” commented Stephen M. Spaeder, senior vice president of BPG who along with Neil Gallagher, vice president of BPG, executed the transaction on behalf of the owner. “1000 Continental offers a superior location, services and amenities, along with efficiencies and cost-savings companies are demanding in today’s marketplace. As the only LEED™ Silver certified building in the King of Prussia market, 1000 Continental is uniquely positioned to serve the needs of companies that are looking for office space that is not only good for the environment but also good for their bottom line.” <p> Nationwide Funds Group is based in the Philadelphia area and is the mutual funds subsidiary of Nationwide Financial Services, Inc. (NYSE: NFS), a publicly traded company based in Columbus, Ohio. The group is led by Nationwide Mutual Insurance Company, which is ranked No. 108 on the Fortune 500. Nationwide was represented by Michael Bronstein and Kari Fryman of CB Richard Ellis. Grubb & Ellis is a commercial real estate service and investment management firm, providing property owners, corporate occupants and program investors comprehensive integrated real estate solutions, including transactions, management, consulting and investment advisory services. The Company operates through three segments: Transaction Services, Investment Management, and Management Services. J. Robert Clements, executive vice president and regional manager represented the company internally in the transaction. <p> The landlord was represented in both transactions by Jeffrey Mack, Douglas Newbert and John Susanin of GVA Smith Mack. <p> 1000 Continental is conveniently located at the highly traveled intersection of Routes 202, 422 and the Interstate 76 in King of Prussia. The six story building offers landmark visibility and superior access to the region's major highways, retail and dining centers and far reaching suburban labor pool. Features include an exterior of polished granite accents and a distinctive curved glass exterior on the north elevation, a two-story lobby with granite flooring, 9' finished ceiling heights with extensive floor-to-ceiling glass, fully engineered HVAC with tenant controlled hours of operation. On-site amenities consist of a professionally equipped fitness center, complimentary corporate concierge services and a deli with wireless Internet access. <p> BPG completed construction of 1000 Continental in the third quarter of 2007 and in the summer 2008 began construction on 1000 Floral Vale, a highly efficient office building with a precertification design level of LEED™ Gold certification. It is the first Gold certified 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. <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. <p> <b>For additional information on BPG Properties, Ltd., please contact:</b><br> Holly Reynolds, Vice President, 215-575-2363<br> <p> <b>For additional information on 1000 Continental, please contact:</b><br> Stephen M. Spaeder, Senior Vice President, 215-575-2386