VALLEY FORGE CORPORATE CENTER PROPERTY SOLD FOR $25.25 MILLION – CB RICHARD ELLIS BROKERS DISPOSITION OF 251,751 SF FACILITY

Wayne, PA June 30, 2008 – Representing BPG Properties, Ltd., one of the nation’s leading private equity real estate fund managers, CB Richard Ellis, Inc. (CBRE) brokered the disposition of 2621 Van Buren Avenue located in Valley Forge, Montgomery County, PA. The 251,751 square foot office and warehouse/light manufacturing building is 96% occupied and located within the dynamic 250-acre Valley Forge Corporate Center. The property was purchased by Montreal based investors Moteli Property Group for $25.25 million.

“2621 Van Buren Avenue offers an astute investor the opportunity to acquire a quality asset with a strong tenant roster and a balanced rollover schedule while capitalizing on improving fundamentals in the King of Prussia market,” commented CBRE Executive Vice President Michael Hines.

CBRE’s Philadelphia Regional Investment Property – Institutional Group led by Executive Vice President Michael Hines and Senior Vice President Lizann McGowan represented BPG in this transaction. 2621 Van Buren boasts a strong tenant roster including Comcast Corporation, PayChex, Texas Instruments and PJM Interconnection. “Since mid-2005, the King of Prussia/Valley Forge submarket has tightened significantly,” noted Lizann McGowan of CBRE. “The market has seen a nearly 7% decrease in vacancy and rental rates have increased by more than $4.50 per square foot, outpacing the regional office market.” Completed in phases between 1969 and 1986, 2621 Van Buren Avenue received $10 million in capital improvements by BPG over the past 10 years, transforming it from an industrial building into a high quality office and warehouse/light manufacturing facility which can accommodate both office and industrial users. Situated on 15.29 acres of land, the property features Class A office finishes with up to 12′ ceilings, abundant glass/natural light, new windows, façade, common areas, individual tenant entrances and available exterior signage. The flexible warehouse space features up to 36′ clear heights, numerous dock doors and abundant power. In the highly sought after King of Prussia/Valley Forge submarket, 2621 Van Buren Avenue is strategically located within the largest and most dynamic office submarket in the Philadelphia MSA. Within one mile of the Trooper Road exit of Route 422, the property is four miles from the interchange of I-76 (Schuylkill Expressway) and I-276 (Pennsylvania Turnpike) and is easily accessible to amenities including the nearby King of Prussia Mall as well as over 500,000 square feet of retail two miles west along Trooper Road.