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PHILADELPHIA-Following 10 months of fundraising, locally based Berwind Property Group closes BPG Investment Partnership VI, its sixth real estate fund, at $384 million, which is $84 million above goal. In line with BPG’s overall strategy, it will structure a wide spectrum of investment deals, including direct purchases, mezzanine equityinvestments, joint venture acquisitions and development projects, and target an equally broad range of property types, including office, multifamily, industrial, retail and hotel.

It seeks a portfolio that is diverse in product, geography and risk profile, according to a statement by Arthur P. Pasquarella, BPG’s executive vice president and chief operating officer. “In today’s environment,” Pasquarella says, “we believe there are a great deal of opportunities.”

In a statement, Daniel M. DiLella, Berwind’s president and chief executive officer, says 11 new institutional investors joined investors in previous BPGfunds in this sixth fund. Among them are public and private pension plans, endowments, foundations, financial institutions and high-net worth individuals. Berwind itself committed $30 million to the fund.

Since 1993, BPG has raised more than $1 billion of equity capital through the formation of six commingled funds and one co-investment fund.

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