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  DURING THE QUARTER, MEPT EXECUTED A FORWARD COMMITMENT OF $120 MILLION TO PURCHASE, UPON COMPLETION IN 2011, ONE FRANKLIN-LE MERIDIEN,
a planned 250-room, four-star hotel property in Boston. The hotel will be part of a 1.4 million square foot, mixed-use development that will incorporate the former historic Filenes Basement clothing store into space for retail, hotel, residential, and office.


IN SEPTEMBER, MEPT PURCHASED AN ADDITIONAL OWNERSHIP INTEREST IN ARBORETUM LAKES WEST FOR $1.7 MILLION.
The purchase of the outstanding 5 percent interest brings the total MEPT ownership to 100 percent. Arboretum Lakes West is a Class A, 190,361 square foot, mid-rise suburban office building located in Chicago.


Procter & Gamble Co.
Procter & Gamble Co. - maker of Tide laundry detergent, Charmin bathroom tissue and Crest toothpaste - leased 1.2 million square feet of space at Gateway Commerce Center in Edwardsville. P&G has moved into nearly 580,000 square feet at the Gateway Commerce Center's Westway III building at 3101 Westway Drive under the $17 million deal.

Symantec Expands in Downtown San Francisco
Firm Takes Additional 17,000 SF at 303 2nd Street Symantec leased 16,966 square feet on the fifth and eighth floors for six years at 303 2nd St. in San Francisco, where it already occupies 38,734 square feet.

Ozburn-Hessey Expands Operations in Dallas
Ozburn-Hessey Logistics signed a 15-month lease for an additional 148,000 square feet at the Pinnacle Park I building at 3700 Pinnacle Point Drive in Dallas, TX. The firm moved into this new space on July 1.

 

Philosophy

Since its inception in 1982, MEPT's philosophy has been to create a diversified portfolio of institutional-quality, income-producing real estate to provide competitive long-term risk-adjusted investment returns, an investment vehicle with flexibility and liquidity so that investors can easily increase or decrease participation in the Fund, and the collateral benefit of job creation.

The result of this commitment is a diversified portfolio of primarily new construction, 100% union-built, high-quality real estate properties in major metropolitan markets around the country that produce strong and stable current income and superior returns for investors. The development of this portfolio has created over 52.7 million job hours and more than $9.9 billion of economic activity in investor communities. Moreover, investors have enjoyed the opportunity to redeem their investment without ever experiencing a withdrawal queue.

 

$6.82
BILLION
in net assets

190
TOTAL
number of assets

335
TOTAL
participating
pension plans



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