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The AFL-CIO Building Investment Trust 

2014 BIT Brochure 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 Holds Appreciation Luncheon in New York September 26, 2014 New York, NY

Commercial Real-Estate News
Wall Street Journal Online

Mortgage Lending Falls New figures released by the Federal Reserve Bank of New York show mortgage lending is running at its lowest level in 13 years, with 2014 on pace to be the weakest for new loans since 2000.
Tue, 25 Nov 2014 22:10:27 EST

Rebirth for Harlem Renaissance Site A plan to tear down the Renaissance Casino and Ballroom and turn it into a luxury apartment building could help complete the transformation of a pocket of northern Harlem that has lagged behind the rapid redevelopment of the surrounding area.
Mon, 24 Nov 2014 23:37:45 EST