THOMAS PROPERTIES GROUP, INC.

THOMAS PROPERTIES GROUP, INC.

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Company Overview
Thomas Properties Group Inc. (TPG) is a full-service real estate company that owns, acquires, develops and manages office, retail and multi-family properties throughout the United States. TPG maintains offices in Los Angeles and Sacramento, CA, Houston and Austin, TX, and Philadelphia, PA. The company has four integrated areas of business focus: property operations, property acquisitions, property development and redevelopment, and investment management.
TPG began its operations in late 1996; at that time, it owned and managed approximately 2.0 million square feet of commercial space and was in the process of planning the 950,000 sq. ft. California Environmental Protection Agency (CalEPA) headquarters in Sacramento, California.
Since its founding in 1996, TPG has developed, restructured and acquired properties in the West Coast, Southwest and Mid-Atlantic regions of the US. Some of the company’s properties are located in Southern California and Sacramento, California; Philadelphia, Pennsylvania; Northern Virginia; Houston, Texas, and Austin, Texas. TPG conducts its business through its operating partnership, Thomas Properties Group LP, of which it owns about 46%.
During the fiscal year ended December 2006, TPG owned interests in and asset managed 14 operating properties with 9.2 million rentable square feet and provided asset and/or property management services on behalf of third parties for an additional five operating properties with 2.6 million rentable square feet.
Business Summary
Thomas Properties Group, Inc. (Thomas Properties Group) is a real estate company that owns, acquires, develops and manages primarily office, as well as mixed-use and residential properties. The Company’s properties are located in Southern California and Sacramento, California; Philadelphia, Pennsylvania; Northern Virginia; Houston, Texas and Austin, Texas. As of December 31, 2009, Thomas Properties Group owned interests in and asset managed 27 operating properties with 13.2 million rentable square feet and provided asset and/or property management services on behalf of third parties for an additional four operating properties with 2.2 million rentable square feet. It also has a development pipeline of approximately 10 million square feet of primarily office development and 2,937 residential units. The Company’s operations are carried on through, Thomas Properties Group, L.P. (the Operating Partnership).
Description and history
Thomas Properties Group, Inc. (Thomas Properties Group), incorporated on March 9, 2004, is a real estate company that owns, acquires, develops and manages primarily office, as well as mixed-use and residential properties. The Company’s properties are located in Southern California and Sacramento, California; Philadelphia, Pennsylvania; Northern Virginia; Houston, Texas and Austin, Texas. As of December 31, 2009, Thomas Properties Group owned interests in and asset managed 27 operating properties with 13.2 million rentable square feet and provided asset and/or property management services on behalf of third parties for an additional four operating properties with 2.2 million rentable square feet. It also has a development pipeline of approximately 10 million square feet of primarily office development and 2,937 residential units. The Company’s operations are carried on through, Thomas Properties Group, L.P. (the Operating Partnership). The Company’s office portfolio generates revenues from the rental of office space to tenants, parking, rental of storage space and other tenant services. Its management activities generate revenues from third parties and joint ventures, in which the Operating Partnership is a partner from property and asset management fees, acquisition fees and disposition fees.

Ownership Interest Properties

The Company’s properties are located in the West Coast, Southwest, and Mid-Atlantic regions of the United States, consisting primarily of office space and also including mixed-use, multi-family and retail properties. The Company holds 100% ownership interest in Two Commerce Square and One Commerce Square. It holds a 50% interest in 2121 Market Street; the other 50% interest is held by an entity owned by Philadelphia Management, an unaffiliated Philadelphia-based real estate developer. As of December 31, 2009, it provides asset and/or property management services for three properties on behalf of California State Teachers Retirement System (CalSTRS) under a separate account relationship, and one property on behalf of the City of Sacramento. The Company has an ownership interest of 25% in TPG/CalSTRS, LLC (TPG/CalSTRS), which holds a 100% ownership interest in 12 properties and a 25% interest in 10 properties in Austin, Texas. Thomas Properties Group’s indirect interest in the 10 properties in Austin is 6.25%.

Managed Properties

The Company provides asset and/or property management services for four properties as a fee service for third parties. Thomas Properties Group’s asset and property manages three properties through, its separate account relationship with CalSTRS. It has developed and continues to property manage the California Environmental Protection Agency (CalEPA) headquarters building. In addition, it provides asset and/or property management services for 12 properties held by TPG/CalSTRS and 10 properties held by the Austin Portfolio Joint Venture as of December 31, 2009. Properties managed by the Company for third parties include 800 South Hope Street, Pacific Financial Plaza, 1835 Market Street and CalEPA headquarters.

Business Line
Owns, acquires, develops and manages office, retail and multi-family properties throughout the United States
Subsidiary
TPG-BH/ICC, L.P.
Advisor
ERNST & YOUNG LLP
IPO date
10/13/2004
US SIC Code
6531
Company Address
ARCO Plaza
515, South Flower Street
City province or state postal code
90071, LOS ANGELES, CA
Phone: +1 213 613 1900
Fax: +1 213 633 4760
Country address: UNITED STATES OF AMERICA
Website url: www.tpgre.com