MEPT is organized as a bank collective investment trust, which
is maintained by NewTower Trust Company. The Fund is managed by three entities:
Kennedy Associates Real Estate Counsel, LP, (Kennedy) of Seattle, Washington,
serves as the real estate investment advisor, Landon Butler & Company, LP
(LBC) provides investor relations and marketing services to MEPT, and NewTower
Trust Company (NewTower), of Bethesda, Maryland, serves as the trustee and fiduciary
of the Fund.
MEPT's management team has a unique combination of capabilities since the team
is made of three organizations with distinct areas of expertise, and more than
109 professionals with a broad range of real estate and investment management
acumen. NewTower, Kennedy and LBC work together on MEPT to offer participating
pension plans an attractive and direct way to invest in equity real estate.
Kennedy, the real estate investment advisor to MEPT, was founded in 1978. LBC
became a full service investor relations firm in 1981. Together, Kennedy and
LBC founded MEPT in 1981. NewTower became the fiduciary and trustee of MEPT
on June 14, 2005.
MEPT uses a Policy Board to perform oversight and risk analysis for the Fund.
Principals of NewTower, Kennedy, and LBC serve together on MEPT's Policy Board.
The Policy Board determines MEPT's strategic direction, including investment
policy and portfolio strategy. The Policy Board meets at least twice a year
to review the performance and management of the Fund. The current members of
the Policy Board are Landon Butler (LBC), Patrick Mayberry (NewTower), John
Parker (Kennedy) and Gary Whitelaw (Bentall Capital).
Kennedy serves as the real estate advisor to MEPT. Kennedy, headquartered in
Seattle, Washington, with offices in Chicago, Illinois, Dallas, Texas, Los Angeles
and San Francisco, California and Washington, D.C., manages real estate assets
of more than $7.5 billion.
Landon Butler & Company, LP (LBC), headquartered in Washington,
D.C., sponsors and provides services to real estate investment vehicles developed
to meet the needs of U.S. and foreign multi-employer, public employee, and corporate
pension plans.
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