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In March, MEPT acquired Two Rector Street, a 473,975 square foot office building in the Financial District of Manhattan for a gross price and redevelopment commitment of $323.8 million.
The Art Deco aesthetics and unique layout make Two Rector Street a truly unique 26-story office tower in one of the most renowned and resurgent office submarkets in the world…

In the first quarter, MEPT committed $77 million to finance the construction of 9th & Thomas, a planned 12-story, 165,000 square foot boutique, multi-tenant office building in Seattle.
Through a shared-appreciation mortgage, MEPT will help finance the construction and participate in the cash flow and appreciation of the asset once it is stabilized…



JV Closes on Acquisition of Two Rector Street
Multi-Employer Property Trust (MEPT), advised by Bentall Kennedy U.S. LP, in a joint-venture with Cove Property Group LLC have acquired the office building at 2 Rector St. in New York, NY from Kushner Companies and CIM Group LP…

First look: ‘Transformative’ 710-unit residential project planned in South End
Leggat McCall Properties on Monday submitted an expanded project notification form to the Boston Redevelopment Authority that highlights in greater detail the firm’s plans for a "transformative, contemporary development" spanning a full city block in the South End. The project team has named the project the "Harrison Albany Block" and proposed 710 residential units, a 40,100-square-foot office and 14,100 square feet of retail space for a 3.1-acre site in the South End formerly owned by Boston Medical Center…


Latest look at Trammell Crow’s updated Diridon project
A lot has changed in the years since downtown San Jose’s last office tower was built about six years ago. Tech&rsquos influence on workspace design has completely transformed the look and feel of new projects. Wide-open floors are in. So is proximity to housing, services and transit…



 

Management Team

Multi-Employer Property Trust (MEPT) is managed by NewTower Company (NewTower) of Bethesda, Maryland, a Maryland limited purpose, non-depository, state-chartered trust company which serves as trustee and fiduciary. Bentall Kennedy (U.S.) Limited Partnership (Bentall Kennedy) with U.S. headquarters in Seattle, Washington, serves as the real estate investment advisor and investor relations provider to the Fund.

Bentall Kennedy is a member of the Sun Life Investment Management group of companies which is owned by Sun Life Financial Inc. (NYSE: SLF). NewTower is a subsidiary of Bentall Kennedy.

Bentall Kennedy co-founded MEPT in 1982. NewTower became the fiduciary and trustee in 2005.

NewTower provides MEPT with expertise in the areas of accounting and financial reporting, valuation, performance reporting, and trust custody. NewTower is responsible for all investments including the approval to purchase, and sell assets. NewTower manages the Fund’s valuation process which occurs quarterly. In addition, NewTower oversees portfolio financial reporting, preparing investor account statements, safeguarding of assets and the adequacy of internal controls. NewTower has a majority independent Board of Directors which provides oversight and direction to NewTower’s activities and oversight of the MEPT strategy. The Board consists of one inside directors and five independent directors. The independent directors have been selected based on their integrity, technical competence, character and experience in the financial services industry.

Bentall Kennedy provides its clients with access to institutional-quality real estate investment opportunities in both the U.S. and Canada through an integrated platform that is supported by the depth of real estate knowledge of its senior real estate professionals. Bentall Kennedy’s goal is to deliver strong, consistent investment performance through: strategic and timely property acquisitions and dispositions; thoroughly researched and underwritten investments; comprehensive analysis of downside risks; clear definition of exit strategy and liquidity; compliance with Fund criteria and risk/reward profile; and independent investment committee review.

Bentall Kennedy has U.S. headquarters in Seattle, Canadian headquarters in Vancouver and Toronto, and regional offices in Chicago, Boston, San Francisco and Washington, D.C. as well as Montreal, Calgary, Ottawa, Winnipeg and Edmonton. Bentall Kennedy serves the interests of more than 500 investors across 132 million square feet of office, retail, industrial, residential and hotel properties.

 

 


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