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…



 

Responsible Contractor Policy

The Fund management team’s objective is to generate competitive long term performance while maintaining an industry-leading commitment to Environmental, Social and Governance (ESG) principles, including responsible contracting.

New Construction, Renovation and Tenant Improvements
The Fund uses responsible contractors for new construction, renovation, tenant improvements or other capital projects as follows:

On-site construction work controlled and paid for by the Fund shall be performed by contractors that:

    a. are party to, or bound by, a collective bargaining agreement applicable to the geographic area in which the project is located, is applicable to the trade or trades in which the work under the contract is to be performed, and is entered into with one or more labor organizations affiliated with the Building and Construction Trade Department of the AFL-CIO, or with an independent, nationally recognized labor organization, or one of its affiliated local unions;

    b. employ members of such labor organizations to perform work within their respective jurisdictions; and

    c. require each subcontractor performing work on the project to comply with a) and b).

Property Operations
The Fund shall, to the extent practicable, engage signatory contractors for building operations services including janitorial, security and stationary engineering controlled and paid for by the Fund.

Fiduciary Commitment
Notwithstanding the above, consistent with its fiduciary obligation to all investors in the Fund, management maintains commercially reasonable and competitive bidding practices. To that end, as relates to any construction or building operations services, management will endeavor to obtain not fewer than three bids from qualified contractors for a given scope of work.

In situations where the Fund is unable to obtain three bids from qualified contractors, it will use contractors that provide fair wages and fair benefits and that demonstrate a respect for labor, local, and national laws.

Pre-existing conditions/Specialized fit-out
Pre-existing leases and/or contracts for capital improvements or tenant improvements relating to existing assets acquired by the Fund are exempted from the requirements above. Furthermore, specialized tenant fit-out or original equipment manufacturer (OEM) installation work may be exempted in certain circumstances.

Transparency
The Fund will make its Responsible Contractor Policy known to its development, construction, property management and leasing service providers.


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