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The AFL-CIO Building Investment Trust
Celebrates 25 Years of Achievement

2013 Annual Report Released

For 25 years, the mission of the AFL-CIO Building Investment Trust (BIT), a bank collective trust for which PNC Bank serves as trustee, has been 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 December 31, 2013 the BIT has a net asset value of $2.96 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 25 year history, the BIT has invested over $5.3 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 Playhouse Plaza in Pasadena, CA BIT Breaks Ground at Playhouse Plaza in Pasadena, CA
500 Lake Shore Drive Wins 2013 Pride in Construction Award for Residential Construction CISCO has awarded its residential construction award to the $158 million development 500 Lake Shore Drive in Chicago, IL.
BIT Hosts Worker Appreciation in St. Louis BIT Thanks Union Workers with Luncheon at Cortona Apartments Project in St. Louis

Commercial Real-Estate News
Wall Street Journal Online

Plots & Ploys Colorado's Oakwood Homes is purchasing Henry Walker Homes in a deal valued at over $75 million. The deal is a sign that home builders are deciding the best way to expand into a new market is to buy your way in.
Wed, 23 Apr 2014 00:06:09 EDT

Ruling Bodes Well for REIT Converts News that advertising company CBS Outdoor has received a green light from the IRS to convert into a real-estate investment trust is a positive sign for other companies awaiting similar rulings.
Tue, 22 Apr 2014 21:08:02 EDT