Recent Study Finds Total Economic Impacts Attributed to MEPT Investments Equates to $18.1 billion Over Last 34 Years
In a recently completed study, The Economic and Fiscal Impacts of Multi-Employer Property Trust Investments Across the United States, by Pinnacle Economics, Inc., it was shown that MEPT has directly generated $8.5 billion in economic activity in 41 markets throughout the United States since 1982. Additionally, construction activity created by MEPT investments has generated $6.8 billion in output and 47,428 construction jobs with 91.7 million hours of work for members of the local Building Trades. Furthermore, MEPT investment spending has a multiplier effect on communities. Between 1982 and 2015, the total economic impacts attributed to MEPT investment spending amount to $18.1 billion in total economic activity. Additional details or a copy of the full Report is available by request to Vanessa Parrish at

MEPT Receives Top Ranking in GRESB Benchmark
MEPT once again ranked 1st globally among its peer group on the Global Real Estate Sustainability Benchmark (GRESB) and has been a top tier ranked fund with GRESB for the last six years.  MEPT earned five green stars, the highest possible, which reflects upper quintile performance compared with the entire universe of participants. Although participation and benchmark performance continues to increase and improve, MEPT remains significantly ahead of its peer group in all seven of the GRESB Aspects or scoring categories. Each GRESB Aspect is scored on a 0 to 100 scale and MEPT’s average score was 23 points ahead of its Peer Group.

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…



NewTower, on behalf of MEPT, maintains a valuation process that is thorough and objective.Each asset in the Fund’s portfolio is appraised quarterly by an independent MAI-designated member who must be selected and engaged by NewTower. In addition, NewTower has a comprehensive list of content and analytical requirements that must be included in every appraisal submitted and it is the general practice of NewTower to engage an appraiser for no more than three consecutive years on the same MEPT asset.

As an additional safeguard, NewTower retains independent valuation firms, such as The Altus Group, to verify the accuracy of the appraisal process by thoroughly reviewing appraisal reports to determine regulatory and professional standards (USPAP) compliance, completeness of documentation, reasonableness of methodology, accuracy of calculations, and adequacy, relevance, and appropriateness of conclusions. The independent review firm then indicates whether each MAI appraisal is recommended, based on the scope of their review, for acceptance by NewTower on behalf of MEPT. In addition, both Altus and other independent consultants provide ongoing advice that helps ensure the internal and external appraisal and review procedures employed by NewTower reflect professional best practices. The Altus Group real estate valuation practice is comprised of a team of MAI-designated professionals that have provided appraisal review services to MEPT for many years.

As NewTower operates in a heavily regulated environment, independent advisors and auditors are retained to perform a variety of services including annual audits of financial statements and reviews of internal controls. Additionally, NewTower undergoes a review every 12-18 months by its regulator, the Maryland Commissioner of Financial Regulation.

Debt Valuations

Further, MEPT currently engages either The Altus Group or National Valuation Consultants to independently value both portfolio and property level debt quarterly. NewTower oversees the Fund’s valuation policies and procedures, including oversight of leverage valuations independently prepared by The Altus Group or National Valuation Consultants.