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 - 2017
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Second Quarter 2017:

THERE WERE NO ACQUISITIONS DURING THE SECOND QUARTER OF 2017. However, MEPT currently has $405.8 million of acquisitions that are currently under contract and expected to close in 3Q and 4Q 2017.   In the second quarter of 2017, MEPT sold Trimble Distribution Center, a 206,642 square foot industrial warehouse in San Jose, CA, for a total gross sale price of $62.0 million. Trimble Distribution Center is located in the Golden Triangle area of North San Jose, an area with a high concentration of large technology companies. The asset was originally built in 1968, renovated in 2003, and was acquired by MEPT in September 2012. At the time of acquisition, Trimble Distribution Center was leased to multiple tenants with varying credit, but through diligent asset management, Bentall Kennedy was able to sign a 10-year lease with FedEx for the entire space. The sale represented a $10.5 million gain over the first quarter value.   Additionally, MEPT has $110.5 million of dispositions that are currently under contract and expected to close in 3Q 20

"This acquisition aligns with the Fund’s strategic goal of acquiring core retail properties in primary, knowledge-based markets throughout the U.S.," stated David Antonelli, Executive Vice President and Portfolio Manager at Bentall Kennedy. "Investing in necessity-based retail centers in areas surrounded by large, educated and affluent populations provide stable income for the Fund."

Additionally, the Fund acquired a JV partnership interest in one of the Boston assets, Doctor’s Office Building, a 97,289 square foot medical office building, for $4.9 million.

First Quarter 2017:

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. Peachtree City, the largest city in Fayette County, Georgia, has strong demographics with average and median household incomes within a 3-mile radius of the Property of $120,000 and $95,000, respectively. Built in 2006, Kedron Village II is 90 percent leased to a mix of national, regional, and local tenants. The center is anchored by Ross Dress for Less, Bed Bath & Beyond, and Petco.

"This acquisition aligns with the Fund’s strategic goal of acquiring core retail properties in primary, knowledge-based markets throughout the U.S.," stated David Antonelli, Executive Vice President and Portfolio Manager at Bentall Kennedy. "Investing in necessity-based retail centers in areas surrounded by large, educated and affluent populations provide stable income for the Fund."

Additionally, the Fund acquired a JV partnership interest in one of the Boston assets, Doctor’s Office Building, a 97,289 square foot medical office building, for $4.9 million.


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