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Mdi Prkig Lt Rdvlpmt Prctpresented to
Th Ldl Cmmity
December 14, 2011
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Overview of BPG Properties, Ltd.
History
Local Investment and Development
Other Recent Projects
Introduction of Project Team
Overview of Redevelopment
Sample Mixed Use Transit Oriented Developments
TabLe of ConTenTs
I
II
III
IV
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BPG Properties, Ltd. (BPG) is a private equity real estate fund manager based in the Greater Philadelphiaarea with a proven track record in the acquisition, development and investment management of all majorproperty types throughout the United States.
ThermisbasedinPhiladelphiaandhasregionalofcesinBoston,Washington,DC,Raleigh-Durham,Atlanta,ChicagoandLosAngeles.
BPGs current portfolio consists of nearly 19,000 apartment units and student housing in 70 communitiesandmorethan24millionsquarefeetofofce,retailandindustrialpropertiesthroughoutthecountry.
Sinceitsinceptionin1980,BPGhasbeenbuildingvalueinabroadrangeofvalue-addedrealestateon behalf of institutional investment partners including corporate and public pension funds, endowmentfunds,foundationsandnancialinstitutions.
EachpropertyinthermshighlydiversiedportfoliobenetsfromBPGssignaturedirectoperatingapproach.
CoMPanY oVeRVIeW
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M a d i s o n A p a r t m e n t G r o u p , L. P. acquires and operates apartment and student housing communitiesthroughout the United States. The company is committed to enhancing the quality of life for residentsofitsaward-winningcommunities.Presently,Madisonoperatesnearly19,000unitsin70communitiesnationwide on behalf of BPGs partnerships.
B P G D e v e l o p m e n t C o m p a n y, L . P. is responsible for BPGs development and adaptive reuse projects. Since2000,thermhasdevelopedand/orredevelopedmorethansixmillionsquarefeetonbehalfofafliatesofBPG.Presently,thermcontrolslandonwhichitcandevelopanadditional12millionsquarefeetofofce,industrialandretailspace.
B P G M a n a g e m e n t C o m p a n y, L . P. was formed in 1987 and specializes in the property management ofofce,retailandindustrialfacilities,withmorethan12millionsquarefeetundermanagementatthistime.
B P G Ma n a g e me n t Co m p a ny - N C , LL Cis a full service property management and leasing company thatoversees the management, leasing and operations for more than four million square feet of industrial andexspaceinover60buildings,withdevelopmentpotentialof530,000squarefeet,plusthreeshoppingcenters,totaling500,000squarefeet.
oPeRaTInG CoMPanIes
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Property: Amtraks30StreetParkingGarage
Philadelphia, PA
Size: 1,525spaces
Type: Parking Garage
Relevance: Large,complex,inll,publictransit, public/privatepartnershipOverview:
InApril2004,BPGcompletedthedevelopmentofanine-story,1,525carparkinggarage,locatedadjacenttoAmtraks30thStreet Station in Philadelphia, Pennsylvania, for the National
RailroadPassengerCorporation(Amtrak).TheparkinggaragewasopenedtothepubliconMay3,2004.
BPG served as the developer of the parking garage. Aegis
Property Group, Ltd. was the development manager for
Amtrak.ProjectarchitectsincludedbothUrbanEngineers/STVArchitects and Bower Lewis Thrower Architects. Shoemaker
ConstructionCompanyservedastheconstructionmanagerfor
the project.
ConstructionoftheparkinggaragebeganinFebruary2003,followingtheJanuary2003closingof$50millionintax-exemptbonds issued by the Pennsylvania Economic Development
FinancingAuthority(PEDFA),whichwasusedtonance100%of the project cost.
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Project: 300FourFalls
Conshohocken,PA
Sq. Ft: 290,0000
Type: Ofce(NewConstruction)
Overview:
Inthefallof2004,BPGcompletedthedevelopmentof300FourFalls,a290,000squarefootofcebuildingprominentlylocatedbetweentheSchuylkillRiverandSchuylkillExpressway(I-76)
inWestConshohocken,Pennsylvania.Thebuildingcontainsseven-storiesofpremierofcespacesituatedatopasix-levelparking garage. It was developed on a speculative basis by the
rmduetothelimitedamountofspaceinthemarket.
300FourFallshasastunningexterior,comprisedofapolishedgranite wall system with a continuous ribbon window system that
allowsforoor-to-ceilingglassontheeastandwestelevations.Thebuildingsinteriorfeatures30x30structuralbaysthroughitscenterwith30x45perimeterbays,allowingforefcient
planning.
Priortosellingthepropertyin2005,BPGleasedmorethan90percentofthepropertytotenantsincludingEMC,CSFB,TheJohnTempletonFoundation,TakedaPharmaceuticals,Miller&Chevalier,ECBM,SmithBarney,AmericanCapitalandTheJudge Group.
...we moved into our impressive new facility on time and withinbudget. I am delighted to be able to strongly recommend BPGfor their thoroughness, attention to detail and professional ex-
cellence.JohnTempleton,Jr.,MD,JohnTempletonFoundation
..we have been incredibly pleased at the quality of the build-ing and the level of the service from the staff here.
KennethE.Jones,AmericanCapital
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Property: 1000ContinentalDrive
King of Prussia, PA
Sq. Ft: 200,000SF(Existing)
Type: Ofce
Overview:
BPGbegantheconstructionof1000Continental,asix-storyeliteofcebuildinginthespringof2006.Thebuildingwascompleted in October 2007.
Prominently situated at the intersection of Routes 202, 422 and
theSchuylkillExpressway(I-76),1000ContinentalDriveofferslandmark visibility and superior access to the regions major
highways, retail and dining centers and far reaching suburban
labor pool. The buildings proximity to the regional highway
system is enhanced by its location on the local road network,
offering exceptional access from Philadelphia, The Main Line
and Suburban growth communities. Each and everyday more
than 170,000 cars will drive by this prestigious building.
The building features environmentally responsible design,
construction and management that has earned LEED Silver
CerticationandincludesIntelligentbuildingdesigntosupportintegrated building controls and advanced IT solutions. 1000
Continentalalsohasanon-sitetnessfacility,wirelesscafeandcomplimentary concierge services.
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Property: EastGateShoppingCenter
Moorestown, NJ
Sq. Ft: 855,000SF
Type: Retail Development
Relevance: Large, complex, transit oriented
Overview:
BPG created this Trophy Retail Powercenter in six phasesbetween1993and2001.Thedevelopmentprocessincludedbuying over 100 acres of land, changing the zoning from
ofcetoretailuse,buildinga$13millionrampsystemoffofInterstate-295,andattractingsomeofthenationsbiggestretailnames.
Today,EastGateisleasedtobrand-nametenantsincluding:HomeDepot,ShopRite,OfceMax,Barnes&Noble,DicksSporting Goods, Old Navy, and many others. The shopping
center is regarded as the most successful in South Jersey and
has been recognized as a trophy class retail development.
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Property: Ellis Preserve
Newtown Square, PA
Sq. Ft: 850,000SF(Existing) 1,000,000SF(Planned)
Type: Ofce/R&D/Retail
Overview:
Originally developed as a corporate headquarters in the 1980s,
EllisPreserveoffers850,000squarefeetofexistingofceandresearch/developmentspaceonabeautiful200-acrecampus,locatedattheintersectionofRoutes252and202intheheartofNewtown Square, Pennsylvania.
Since acquiring the property, BPG has completed the
redevelopmentofa240,000squarefootofce/researchanddevelopment facility as well as three stone cottages, totaling
30,000squarefeet.Presently,thermisdevelopinga130,000squarefootmedicalofcebuildingforMainLineHealthonthecampus.
Additionally, BPG is completing the approval process for up
to450,000squarefeetofretailspacewithinamasterplannedretailtowncenterdevelopment.Whencompleted,thetownsquare will offer speciality retail, open air cafes, upscale dining
and hotel accommodations, all designed around a beautifully
landscaped, central courtyard and pedestrian walkways.
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Property: Philadelphia Zoon Intermodal
Transportation Improvement ProjectPhiladelphia, PA
Type: Masterplanning,design,nancial feasibility,nancing
Relevance: Large,variousstakeholders,inlltransit oriented
Overview:
BPG was selected in 2009 by the Philadelphia Zoo to act as
consultantforthefollowing:
Identify ways to create an intermodal transportationsystemat35thandGirardthatwouldincorporaterail,bus, and vehicular access.
Design a 1,000 car parking garage
Designnearly25,000squarefeetofretailspacealongGirard Avenue
Make highway and road improvements along GirardAvenue,34thStreet,andtheoff-rampsfromI-76
Improvewayndingandlightingexperienceinthearealeading up to the Zoo entrance
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Property: TheBarbizon63Condominiums
63rdandLexingtonAvenueNew York, NY
Size: 67units
Type: Multi-FamilyRedevelopment
Relevance: Large,complex,inll
Overview:
BPGcreatedthishighlysuccessfulmulti-familycondominiumin one of the worlds toughest construction environments, New
YorkCity.ThedevelopmentrequiredcoordinationwithallNYCjurisdictions, marketing tours with residential brokers under
construction, building logisitics , and remaining within budget
ona$70millionlandmarkre-constructionofthefamousBarbi-zon Hotel.
ThequalityoftheBarbizon63issecondtonone.Itistherstbuildinginthecitytosuccessfullyincorporateintegratedintelligentbuildingsystemsthatutilizefullberbackbonetechnologyforallserviceswhileprovidingtopightconciergeservice, security, and comfort with unfettered views of the
Upper East Side of Manhattan
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Property: Madison at Montgomery
2701 Elroy Road Hateld,PA
Size: 264units
Year Built: 1969
Redevelopmnet: $16Million
Highlights
Locatedon18acresinHateldTownship
Required the vacating of all residents of the complex
The buildings dated brick veneer facades, many of whichwere exhibiting structural failure at the time of acquisition,were removed and replaced with durable masonry siding andeldstonekneewalls
New larger Energy Star rated windows were added for greaternatural light
New steeper pitched roof trusses were added along with dormerwindows to improve and modernize the overall aesthetic
The interiors were rebuilt and rewired
NewenergyefcientandprogrammablecentralHVACpackageunits were added
Theinteriorsweredesignedasopenoorplanswithgreaterfunctional space
NewWhirlpoolEnergyStarapplianceswereinstalledintheunitsalongwithnewwatersavingxtures,extensiveaddedinsulation,newcabinetry,countertops,ooring,andlightingthroughout.
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Property: Madison at Dogwood
2920 Hannah AvenueEast Norriton, PA
Size: 144 units
Year Built: 1968
Highlights
LocatedinMontgomeryCounty
Each building was thoroughly updated with new Hardie Planksiding, shutters and gable style accents
Therenovationtransformedthelookofthe40-yearoldcommunity, which was originally constructed with mansardroofsextendingdowntotherstoor.Themansardroofswereremovedentirelyandreplacedwithatwo-storydesigncomprisedof low maintenance cementitious siding and new multiple gable
roofs.
Brick columns were added around the balconies to increase theirsize and to interrupt the linear appearance of the buildings.
The windows and sliding doors were replaced with new LEED
rated insulated glass while the balcony and patio lighting waschangedtonewenergyefcientlightingxtures.
Interior improvements included renovations to the common areasof the eight buildings. Each building received new ceramic tileooringinthefoyerentrancesalongwithnewcarpeting,paintingand new upgraded lighting throughout and new railings andhandrailsonthesecondoors.
The doors to each apartment unit were also upgraded andreplaced.
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Property: MadisonatWillowyck
1 Marlborough LaneUpper Gwynedd, PA
Size: 308units
Year Built: 1972-1975
Highlights
$4millionrenovationaClassAmulti-familycommunitylocatedinUpper Gwynedd Township.
Interior renovations were designed to add a lot of natural light tothe apartments and enhanced the sense of spaciousness in what
were already considered large units. The dividing wall betweenthe kitchen and dining room was replaced with a knee wall and abreakfast bar was added to the wall abutting the living room. The
kitchen space was expanded by relocating the washer and dryerto a hall closet.
Extensive upgrades to the kitchens were done with the originalcabinetry and countertops being replaced with modern maple
cabinetry and attractive granite countertops. New stainless steelappliancesandnewcontemporaryplumbingandlightingxtureswere also added.
Additional upgrades included new interior doors and millworkand new neutral carpeting throughout the apartments as well asnewvanitiesandplumbingxturesinthebathrooms.
The exterior of the buildings were renovated with new roofs,windows, doors, painting and landscaping improvements.
In 2009, the property received the Best in Apartment Living
Award from the Apartment Association of Greater Philadelphia
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Property: MadisonatHuntClub
10HuntClubTrailLower Gwynedd, PA
Size: 324units
Year Built: 1986
Highlights
$3.4millionrenovation40-acrecommunityinLowerGwynedd Township
Theexteriorrenovationsincludednewenergy-efcientwindows, full exterior wood repair and replacement, new
signage, upgrades to the pool and clubhouse as well as
site lighting and landscaping improvements throughout the
community.
Renovations of the interiors included new doors, hardwareandtrim,newooringinthebathroomsandkitchensalongwith new carpet and lighting throughout.
Kitchen countertops were replaced and new plumbing
xtureswereinstalled. Renovations began during the second quarter 2009; all
exterior renovations are complete and the interior upgrade
programcontinueswith93unitscompletedasofNovember30,2010.
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aRea PRoPeRTIes
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InTRoDuCTIon of PRojeCT TeaM
Parking Design
WorkedwithBPGindesignof30thStreetStation Garage in
Philadelphia
Project Architect
WorkedwithBPGindesign and construction
ofover1millionSFof local commercial
development
Project Advisor
WorkingwithBPGin design and
masterplanning of
over1,000multi-family
apartment units locally
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StreetscapeExperience
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RETAIL9,500sf
RETAIL11,000sf
RETAIL9,500sf
MADISON ST.
DSTREET
HOUSING
MULTI-LEVELGARAGE
approx 413
LOADING
TOWNHOUSES
LOBBY
ARCHWAY
PLAYFIELD
PLAYGROUND
COURT
YARD
PIAZZA
IN&OUT
IN-ONLY
E
SE
S
S
S
S
S
S
311 MAIN
ARCADE
NRICHARDSONSTREET
W 3RD STREETW 3RD STREET
W 2ND STREET
NEWST
REET:ONE-WAY
WOODST
GREENWAY
PLAYFIELD
GREENWAY
GREENWAY
E3- ZIPCARS
IN& OUT
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TRansIT oRIenTeD DeVeLoPMenT
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MIXeD use DeVeLoPMenT
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