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About the AFL-CIO Building Investment Trust
As of March 31, 2013 the AFL-CIO Building Investment Trust (BIT) is a $2.59 billion pooled real estate fund serving pension plans with union beneficiaries. The mission of the BIT is to provide competitive risk-adjusted returns for its pension plan participants through investments nationwide in institutional quality commercial real estate while promoting economic development and creating union jobs for America’s working men and women.
The BIT invests exclusively in US markets and has developed and implemented the investment industry's most comprehensive written union labor policies. In its 25 year history, the BIT has invested over $5.2 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.
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BIT News
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BIT Announces New Investment in Riverside Place
The AFL-CIO Building Investment Trust, in a joint-venture with The Dermot Company, acquires development site to build Riverside Place, the newest luxury rental building on Manhattan's Upper West Side.
BIT Apartment Project Breaks Ground in St. Louis
Groundbreaking for $42 Million Cortona Apartments at Forest Park Celebrates Reinvestment in St. Louis to Create Construction Jobs
Multifamily For-Rent Development to Bring Union Construction Jobs to Minneapolis
The AFL-CIO Building Investment Trust (BIT), in partnership with Hines, breaks ground on the Dock Street Multifamily Complex in Minneapolis
Commercial Real-Estate News
Wall Street Journal Online
Toll Brothers Offers Some Home Protection
Heard on the Street: This year hasn't been nearly as good to Toll Brothers' stock as it has been for most other home builders. Investors are missing out.
Tue, 18 Jun 2013 19:36:14 EDT
China's Wanda to Expand Overseas
Chinese property conglomerate Dalian Wanda Group plans to expand its luxury real-estate and hotel business overseas, as it builds the world's first Chinese luxury hotel outside of China's mainland.
Wed, 19 Jun 2013 00:18:12 EDT