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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 March 31, 2014, the BIT had a net asset value of $3.10 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 $5.4 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
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.

Commercial Real-Estate News
Wall Street Journal Online

Condo Builders Fuel Land Rush in Miami Cash-paying buyers from abroad are moving to snap up what remains of the city's dwindling supply of prime unbuilt sites, driving values of undeveloped plots to record levels.
Tue, 22 Jul 2014 20:48:28 EDT

Maine Hotel Raises the Bar From the 15th floor of the new Westin hotel in Portland, Maine, the highest point in the city, the view looks pretty good for a pair of hotel investors who completely remade the nearly century-old property.
Tue, 22 Jul 2014 22:06:26 EDT