Press Releases

RCN TELECOM SERVICES LEASES 19,000 SF AT 650 COLLEGE ROAD EAST IN PRINCETON, NJ

<p><b>PRINCETON, NJ. - (January XX, 2011) - </b>BPG Properties, Ltd. (BPG), one of the nation’s leading private equity real estate fund managers, and Aegis Property Group, a real estate development management company located in Philadelphia, Pennsylvania, announced the execution of a 19,000 square foot long-term lease with RCN Telecom Services at 650 College Road East, a four-story, 168,000 square foot Class A office building located in Princeton Forrestal Center in Princeton, New Jersey. The transaction brings occupancy at the building to 98 percent. James Kinzig and Kim Harris of Aegis Property Group represented the landlord in this transaction. </p> <p>"We are pleased to complete this transaction with RCN Telecom Services,” said Robert Beach, asset manager of BPG who is responsible for overseeing the asset management and operations of the building. “This relocation to Princeton is the result of the acquisition of RCN’s residential assets by a private equity firm with an accomplished track record in the media business. We believe the company will be an excellent addition to 650 College Road East.” </p> <p>RCN Telecom Services, LLC is a broadband services provider delivering all-digital and high definition video, high-speed internet and premium voice services to residential and small-medium business customers under the brand names of RCN and RCN Business Services, respectively. RCN Metro Optical Networks delivers fiber-based high-capacity data transport services to large commercial customers, primarily large enterprises and carriers, targeting the metropolitan central business districts in the company's geographic markets. RCN's primary service areas include Washington, D.C., Philadelphia, Lehigh Valley (PA), New York City, Boston and Chicago. </p> <p>650 College Road is situated within Princeton Forrestal Center, a four million square foot master planned office and research park located just off of Route 1, several miles north of downtown Princeton, New Jersey. It is owned by an affiliate of BPG Properties, Ltd. and Aegis Property Group interests and managed by BPG Management Company, L.P., the property management arm of BPG. 650 College Road East is part of BPG’s multi-building portfolio containing over 500,000 square feet in Princeton Forrestal Center. </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>About Aegis Property Group</b><br> Aegis Property Group is a real estate company that provides real estate development management, project management and transaction management services to clients within the Mid-Atlantic region. For more information, please visit the company’s website at www.aegispg.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 property, please contact: </b><br> Robert Beach, Asset Manager, 215-575-2308<p>