Philly Firm Closes Its Biggest RE Fund

BPG Properties Ltd., a Philadelphia-based real estate fund manager, has closed BPG Investment Partnership VIII LP, its largest private equity fund, with a total equity commitment of $850 million.BPG said the fund will invest in office, multifamily, industrial, and retail properties throughout the United States. "With our track record of strong returns and our demonstrated staying power, over 90% of our existing investors committed to our latest offering, and we quickly developed a waiting list of new investors who wanted to invest in the fund," said Daniel M. DiLella, president and chief executive officer of BPG Properties. The company can be found online at http://www.bpgltd.com.