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BPG Closes Its Record $850M Fund VIII

PHILADELPHIA-More than 90% of previous BPG investors contributed to this fund, which will leverage $3 billion in acquisitions across diverse real estate sectors.

By Marita Thomas | Updated on July 10, 2007

(Read more on the debt and equity markets.)

PHILADELPHIA-BPG Properties Ltd. has closed BPG Investment Partnership VIII LP with a total of $850 million in equity commitments. This is the largest fund in the locally based company’s 25-year history and will leverage an anticipated $3 billion in buying power.

More than 90% of the investors in the eighth fund are existing BPG fund investors, according to Daniel DiLella, BPG’s president and CEO. “We quickly developed a waiting list of new investors,” he adds. “In buying, we’re not limited by geography or sector. We currently have properties in 28 states.

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