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  IN THE FIRST QUARTER, MEPT SOLD HUDSON, A 40,000 SQUARE FOOT INDUSTRIAL BUILDING, FOR TOTAL GROSS PROCEEDS OF $4.0 MILLION..
MEPT acquired Hudson, located in the Los Angeles market, in 2003 as part of a 17 asset portfolio. When the sole tenant vacated the property in 2008, MEPT marketed the property for sale to local owner/users and the City of Industry’s Urban Development Agency purchased the property in February 2009..


IN MARCH, MEPT SOLD NETWAY CENTER AT ASHBURN, AN UNDEVELOPED 32-ACRE PARCEL OF LAND, FOR TOTAL GROSS PROCEEDS OF $5.8 MILLION.
 MEPT purchased the land in 2000 with plans to develop the site. Over the years, MEPT explored several potential strategies for the site. However, with expected slower demand for commercial real estate in the Northern Virginia submarket of Washington DC, MEPT opted to seek a buyer for the property instead of developing the land. The Temple Baptist Church of Herndon purchased the property.


The Yale Effect Spreads Out
Bruce Becker, the president of Becker & Becker, a development firm in Fairfield, was among nine developers that competed for rights to the Chapel Street block. "I realized it was a once-in-a-lifetime opportunity to do a large transit-oriented development," he said. "There weren't any other sites like this in the state." The all-equity project represents the first major new residential construction in the city center in at least 20 years, Mr. Becker said. The majority owner is the Multi-Employer Property Trust, a real estate equity fund representing union pension plan investors.

MEPT, Craft Unions Push for New Development at Corporate Pointe
As construction comes to a close on a three-year, $41 million capital improvement project at the Corporate Pointe property in West Hills, owner Multi-Employer Pension Trust (MEPT) and the Los Angeles Building Trades Council (BTC) are seeking approval for a new development at the same site - which would generate hundreds of additional jobs for craft union workers.


 

 

as of 3/31/09		 Net of Fees Trailing 4 Quarters (compounded) Gross of Fees Trailing 4 Quarters (compounded)
Total -15.90% -25.79% -15.71% -25.14%
Income 1.14% 4.12% 1.33% 4.96%
Appreciation -17.04% -29.01% -17.04% -29.01%
 

Multi-Employer Property Trust (MEPT) is an open-end commingled real estate equity fund that invests in a diversified portfolio of institutional-quality real estate assets in the United States. Founded in 1982, MEPT now has over $4.94 billion in net assets and has become one of the largest real estate equity funds in the US.

MEPT's portfolio consists of 187 properties in 26 major metropolitan markets across the US. MEPT’s seasoned management team has created a diversified portfolio of top-quality, core, income-producing assets through acquisition, development, rehabilitation, or repositioning of undervalued assets. The Fund invests in office buildings, warehouses, flex/research and development facilities, apartments, retail centers, and hotels.

For over 26 years, MEPT has consistently delivered competitive and stable returns for its investor base—now 332 pension plans— through an investment vehicle that offers strong governance and liquidity. In addition, MEPT is recognized as a pioneer in responsible property investing—it is the largest commingled real estate fund in the US that is signatory to the UN Principals for Responsible Investment (UN PRI). MEPT is an acknowledged leader in the LEED and Energy Star green building programs and has, since inception, required that all contractors and subcontractors working on its portfolio properties be signatory to collective bargaining agreements with legitimate trade unions.



   
 
 
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