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BPG Launches Fund to Buy $2B in Assets

PHILADELPHIA-The Berwind affiliate launches its eighth and largest fund to date, projected to raise between $650 million and $750 million.

By Marita Thomas | Updated on September 26, 2006

(To read more on the debt and equity markets, click here.)

PHILADELPHIA-BPG Properties Ltd. has launched BPG Investment Partnership Fund VIII LP, its largest real estate investment fund to date. The plan is to raise $650 million to $750 million for real estate acquisitions.

“Our $550-million Fund VII is 76% invested and we expect to complete the use of that fund within the next six months,” Dan DiLella Sr., BPG’s CEO, tells GlobeSt.com. “We already have commitments for Fund VIII and I believe it will be over-subscribed. Some investors are currently under-allocated in the real estate asset class.”

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