GPX Realty Partners, L.P. Appoints CB Richard Ellis to Exclusively Manage and Lease The Woods Office Complex

The Woods Office Complex is a 17 Building, 570,000-square-foot Office Portfolio Located in Chester and Montgomery Counties

Philadelphia, Pa.-April 30, 2007- GPX Realty Partners, L.P. ("GPX Realty Partners") announced today that it has retained the nation’s leading commercial real estate services provider, CB Richard Ellis (CBRE), to jointly manage, market and lease The Woods Office Complex ("The Woods"), as well as help implement $9 million in capital improvements to the properties.

The Woods consists of 17 buildings with a total of 570,000 square feet of office space, and is located on 77 acres in Pennsylvania’s Chester and Montgomery Counties. GPX Realty Partners acquired The Woods last month in one of the largest commercial real estate transactions in suburban Philadelphia in the past year.

"The Woods has all the key ingredients to be a tremendous success," said Thomas J. Gravina, Executive Chairman and Co-Founder of GPX Realty Partners. "The Woods offers a desirable location off the Pennsylvania Turnpike; quality office space, which is currently in high demand in the Philadelphia suburbs; and now we have enlisted help from CBRE’s office team, which brings more than 25 years of experience and local market expertise. When we are finished modernizing and upgrading The Woods through significant capital investment, there will be very few comparable sites in the region that offer such high-tech, high-quality amenities, competitive market rents and easy accessibility."

The CB Richard Ellis team of Richard Schleicher, Managing Director of Asset Services, and Carl Gersbach, Managing Director of the brokerage division in the Wayne, Pa. office, will oversee the management and leasing of the property.

"We have aggressively pursued this opportunity and are extremely excited about working with GPX Realty Partners to improve The Woods for current and prospective tenants," said Robert Walters, Senior Managing Director of CB Richard Ellis. "The convenient location, planned capital improvements, close proximity to Center City Philadelphia, and access to a skilled labor pool position The Woods as an appealing option for office tenants within the Delaware Valley."

The Woods portfolio is located on two land parcels, one in Plymouth Meeting at 521 - 531 Plymouth Road, and the other in Wayne, Pa. at 983 - 999 Old Eagle School Road. The Woods properties can accommodate tenants from 1,000 to 40,000 square feet. GPX plans to embark on a $9-million renovation plan to upgrade the property, including, fresh landscaping, new common area finishes, parking lot upgrades and updates to exterior lighting. GPX is also reviewing tenant services technology and amenities with an eye to add some new and exciting features in the near future, all while maintaining competitive market rates. The Woods is easily accessible to all major arteries and destinations within the Delaware Valley and offers easy access to the Pennsylvania Turnpike (Rt 276), Route 202, the Blue Route (Rt 476), Route 422 and the Schuylkill Expressway.

For more information or to arrange a tour of the property, please contact Steve Gersbach or Jennifer Galbally of CB Richard Ellis at (610) 251-0820.

About GPX Realty Partners, L.P.
GPX Realty Partners, L.P. is a private real estate investment and advisory firm, focused on the sponsorship, development and management of a diversified portfolio of real estate investments.

Learn more about GPX Realty Partners at GPX Realty's website or contact Joseph Conwell, Managing Director, at (215) 259-2500.

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