PHILADELPHIA—BPG Properties, Ltd., the real estate investment manager for Berwind Property Group, Ltd. and other major institutional investors, has launched its eighth fully discretionary co-mingled value-added real estate fund, BPG Investment Partnership VIII, L.P. (Fund VIII). Targeting total equity commitments of $650 million, Fund VIII’s investment partners will include public and corporate pension plans, endowments, foundations and financial institutions. BPG has made a $65 million commitment to the Fund, which will make investments in a broad range of real estate in the U.S. BPG’s previous fund, BPG Investment Partnership VII, L.P., began its investment period in September 2005 with $550 million of equity commitments. Fund VII is one year ahead of being fully invested, which is expected to occur by the spring of 2007. BPG’s portfolio consists of over 20 million square feet of hotel, office, retail, student housing, hotel and industrial properties and approximately 22,000 apartment units in more than 90 communities located throughout the U.S.
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