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BPG Liquidates Two Funds Yielding a 20% Return

PHILADELPHIA-Berwind closed out its second and third real estate funds, totaling $66 million and $110 million, respectively, in equity commitments. It's currently investing in Fund VI, a $384-million equity fund.

By Marita Thomas | Updated on October 14, 2003

PHILADELPHIA-Berwind Property Group closes out two, co-mingled investment funds, yielding an average aggregate net return in excess of 20% to its partners. These are BBG Investment Partnerships II and III.

Fund II consisted of approximately $66 million in equity commitments. It opened in March 1995 and funded the acquisition of about 2.5 million sf of office and industrial properties along with more than 200 acres of land zoned for residential and office development.

Fund III, begun in June 1996, totaled $110 million in equity commitments. It funded the purchase of more than 1.6 million sf of office and industrial buildings, 5,083 apartment units, 568 single-family homes and a hotel.

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