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 third quarter, MEPT committed $7.0 million toward pre-development costs associated with Capitol Hill Station in Seattle.
Capitol Hill Station, located at the site of the Capitol Hill Link Light Rail station, is anticipated to be a LEED Platinum, 332-unit multi-family asset with 33,024 square feet of retail space. Capitol Hill Station is structured as a joint venture with Portland, Oregon-based Gerding Edlen Development, and the transaction is aligned with the Fund’s focus on responsible investment in transit-oriented locations within knowledge-driven Primary Markets.…



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…



 

Target Markets

The Fund targets stable geographic markets with attractive long-term demand and supply characteristics, but its diversification strategy can evolve based upon changing market conditions, the point in the real estate cycle, and investment opportunities in a given market. Primary Target Markets were selected based on top-down research, which incorporates market fundamentals (supply, demand, vacancy and rent growth), relative pricing and required returns, in conjunction with bottom-up market knowledge from Bentall Kennedy's acquisitions and asset management teams. Within each Primary Target Market, submarket and asset selection are critical success drivers. The Fund prioritizes submarkets that have high barriers to new supply (geographic, political, cost structure, etc.) and demand drivers that are both sustainable and expected to recover from the current downturn more quickly than the overall economy.

The Management Team believes there are Additional Target Markets that are generally more susceptible to supply imbalances but frequently have solid demand characteristics. Investments in these markets will be considered using the same top-down/bottom-up paradigm used to identify and assess Primary Target Market investment opportunities, but with added consideration of supply risks as well as the timing of the local real estate cycle. Furthermore, the Fund may investigate investments in markets beyond the Primary and Additional Target markets should market conditions warrant.

In addition, MEPT evaluates opportunities based on the merits of each individual asset. In order to insure that each asset will create value, MEPT seeks investments where:

  • Development of new assets at costs below current market values
  • Acquisition of existing properties at or below replacement cost
  • Building rehab and/or expansion, where appropriate
  • Identifying opportunities to lease the asset at higher rents

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