Item 8.01 Other Events

On November 17, 2008, Thomas Properties Group, Inc. (TPGI) issued a press release announcing that its affiliate, TPG-Austin Portfolio Holdings LLC (TPG-Austin), for which TPGI serves as the manager, has filed a motion with the U.S. Bankruptcy Court for the Southern District of New York (the Court) in the bankruptcy case of Lehman Brothers Holdings, Inc., et al. (Lehman Brothers).

TPG-Austin owns a portfolio of ten properties in Austin, Texas. TPGI, indirectly through its joint venture with the California State Teachers Retirement System (CalSTRS), holds a 6.25% interest in TPG-Austin. An affiliate of Lehman Brothers currently owns 50% of the equity in the Austin portfolio. Lehman Commercial Paper, Inc. is the loan syndication agent on a $292.5 million Credit Agreement under which TPG-Austin is the borrower. Under the Credit Agreement, a $192.5 million term loan was fully funded, and a $100 million revolving credit facility remains unfunded. TPGI issued a borrowing notice for the full $100 million revolving loan under the Credit Agreement and subsequently issued a notice of default. TPG-Austin filed a motion with the Court to ask for authority to allow it to seek alternative financing, secured by liens superior to the existing liens in favor of Lehman Brothers. TPGI has not yet determined if alternative debt financing or additional equity investment is available to TPG- Austin or what the terms of such debt or equity capital will be.

Item 9.01 Financial Statements and Exhibits.

(a) Not applicable.

(b) Not applicable.

(c) Exhibits

Exhibit No. Description
99.1 - Press Release of Thomas Properties Group, Inc. dated November 17, 2008

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