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IN JULY, PACIFIC PLACE, A RETAIL ASSET IN SEATTLE, WAS SOLD FOR A TOTAL GROSS SALE PRICE OF $271 MILLION.
For its joint venture interest, MEPT received $77.4 million in net sale price. The five-story, 323,000 square foot upscale shopping center located in downtown Seattle was developed by MEPT in 1998 and generated approximately 1.8 million job hours for the Building Trades. Anchored by an AMC Movie Theatre, Barnes and Noble, and Barney’s, Pacific Place was built at a time when downtown Seattle was in decline. In 2008, it was recognized by Seattle as one of the most important advances in the downtown corridor...

DURING THE QUARTER, MEPT RECEIVED $66.3 MILLION IN GROSS PROCEEDS FROM THE PAYOFF OF A MEZZANINE LOAN ON THE VERMONT.
In December of 2011, MEPT provided an $49.9 million mezzanine loan for the development of a $194.4 million 464-unit, multi-family project located on Wilshire Boulevard in downtown Los Angeles. During construction and initial lease up, MEPT earned 9.0 percent interest...



MEPT Ranks 1st Among U.S. Diversified Funds For Sustainability And Environmental Performance In Commercial Real Estate

Multi-Employer Property Trust (MEPT)...announced today that it has been ranked number one in two categories of the Global Real Estate Sustainability Benchmark (GRESB):

  • #1 ranking in the U.S. Diversified peer group among 36 funds;
  • #1 ranking among the 28 funds, recognized as funds in the NCREIF Fund Index - Open End Diversified Core Equity (NFI-ODCE) that participated in the GRESB survey...
Pacific Place mall sold for $271M
Seattle shopping center Pacific Place was sold Monday for $271 million, or more than $774 a square foot, believed to be a record price per square foot for large malls in this area...



 

 

as of
9/30/14
Net of Fees Trailing 4 Quarters (compounded) Gross of Fees Trailing 4 Quarters (compounded)
Total 3.31% 12.22% 3.54% 13.23%
Income 1.13% 4.58% 1.36% 5.53%
Appreciation 2.18% 7.39% 2.18% 7.39%
 

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 $5.4 billion in net assets and has become one of the largest real estate equity funds in the US.

MEPT's portfolio consists of 94 investments in 25 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, and retail centers.

For over 30 years, MEPT has consistently delivered competitive and stable returns for its investor base—now 320 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 Principles for Responsible Investment (UN PRI). MEPT is an acknowledged leader in the USGBC's® LEED® green building and the EPA's ENERGY STAR programs and has, since inception, maintained a Responsible Contractor Policy that requires that all contractors working on its portfolio properties be signatory to collective bargaining agreements with legitimate trade unions.



   
 
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