Recent Study Finds Total Economic Impacts Attributed to MEPT Investments Equates to $18.1 billion Over Last 34 Years

MEPT Receives Top Ranking in GRESB Benchmark

During the first quarter of 2017, MEPT acquired Kedron Village II, an 157,185 square foot retail center for a total gross purchase price of $30.9 million.
Kedron Village II is located 30 miles southwest of downtown Atlanta in Peachtree City and is adjacent to an existing Fund-owned asset, Kedron Village I, a 93,356 square foot, grocery-anchored retail center acquired in 2011.


JV Closes on Acquisition of Two Rector Street

Multi-Employer Property Trust (MEPT), advised by Bentall Kennedy U.S. LP, in a joint-venture with Cove Property Group LLC have acquired the office building at 2 Rector St. in New York, NY from Kushner Companies and CIM Group LP…

First look: ‘Transformative’ 710-unit residential project planned in South End
Leggat McCall Properties on Monday submitted an expanded project notification form to the Boston Redevelopment Authority that highlights in greater detail the firm’s plans for a "transformative, contemporary development" spanning a full city block in the South End. The project team has named the project the "Harrison Albany Block" and proposed 710 residential units, a 40,100-square-foot office and 14,100 square feet of retail space for a 3.1-acre site in the South End formerly owned by Boston Medical Center…


Latest look at Trammell Crow’s updated Diridon project
A lot has changed in the years since downtown San Jose’s last office tower was built about six years ago. Tech&rsquos influence on workspace design has completely transformed the look and feel of new projects. Wide-open floors are in. So is proximity to housing, services and transit…



 

Trust News - 2018
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First Quarter 2018:

In the first quarter of 2018, MEPT acquired: Sojourn Lake Boone ($68.1 M), a garden and mid-rise multifamily asset in Raleigh, NC, Stony Creek Outlots ($7.5 M), a retail outparcel in the Chicago metro market adjacent to an existing MEPT asset, and approved a multifamily development at MEPT’s Harrison/Albany site. Sojourn Lake Boone presented the opportunity to acquire a brand-new Class A transit-oriented multifamily property in the Lake Boone submarket at an attractive basis and in line with MEPT’s strategy of diversifying the multifamily portfolio. Additionally, the acquisition of Stony Creek Outlots offered the opportunity to secure an adjacent retail asset at an accretive basis and enhance the value of MEPT’s Stony Creek Promenade.

While the Fund maintains a disciplined and measured approach to acquisitions, MEPT continues to source attractive opportunities both on and off-market. The Fund currently has one multifamily portfolio, two retail assets, and two structured debt investments under contract or LOI, all of which are expected to close in 2018.

Additionally, MEPT continued to take advantage of aggressive market pricing to realize value and exit non-strategic assets. During the quarter, the Fund sold five assets: two office assets in San Francisco (Oyster Point I and II), one multifamily asset in Minneapolis (Elan Uptown), and two land parcels in San Jose, CA and Reno, NV (Diridon Station and Reno Industrial Center), generating $403.5 million in net proceeds at share. As always, the Fund continues to evaluate its portfolio and pursue opportunities to maximize asset value through accretive disposition activity.


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