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The AFL-CIO Building Investment Trust 

2013 Annual Report Released


The mission of the AFL-CIO Building Investment Trust (BIT), a bank collective trust for which PNC Bank serves as trustee, is to provide competitive risk-adjusted returns for qualified union pension plans through investments in institutional quality commercial real estate. The BIT also provides collateral benefits such as union job creation and economic development.  As of June 30, 2014, the BIT had a net asset value of $3.15 billion. 

The BIT invests exclusively in US markets and has developed and implemented one of the most comprehensive written union labor policies in the industry.  In its 26 year history, the BIT has invested over $5.5 billion for the development and acquisition of more than 180 office, retail, multifamily, hotel, warehouse, and mixed use properties across the country.  These investments have generated approximately 68 million hours in union construction work and created thousands of permanent union jobs in the service, maintenance and operations of facilities owned by the BIT.  

As a fund carrying the AFL-CIO name, the BIT strives to meet the highest expectations both as a prudent steward of pension capital and as a fund dedicated to creating American jobs and building American communities. Learn More

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BIT News

BIT Breaks Ground at Lloyd District Commons in Portland, OR Portland Honors Workers’ Memorial Day by Breaking Ground on a $43.2 Million New Residential Development Creating Hundreds of Safe, Skilled Local Construction Jobs
BIT Breaks Ground at Playhouse Plaza in Pasadena, CA BIT Breaks Ground at Playhouse Plaza in Pasadena, CA

Commercial Real-Estate News
Wall Street Journal Online

Many Visitors but Few Tenants Governors Island attracts many seasonal visitors but also faces many stumbling blocks in luring year-round tenants to the 172-acre off the southern tip of Manhattan.
Tue, 19 Aug 2014 21:27:11 EDT

Unions, Activists Align on Affordable Housing A group of New York City construction unions have forged a coalition with affordable housing activists to ratchet up pressure on Mayor Bill de Blasio to require organized labor in the building of 80,000 lower-cost apartment units over the next decade.
Tue, 19 Aug 2014 21:12:38 EDT