Portfolio Commentary*†

The AFL-CIO Building Investment Trust (“BIT”) reported gross and net returns of 0.77% and 0.54%, respectively for the first quarter of 2017. Gross and net returns for the one-year period ended March 31, 2017 were 6.05% and 5.11%, respectively.

During the first quarter 2017, the BIT acquired Logistics Crossing, an industrial property in suburban Dallas 100% leased to an investment grade tenant. Also in the first quarter, the BIT and its joint venture partner closed on the acquisition of One Federal, an office tower in downtown Boston. In March, the BIT sold the National Square office property in Washington, DC.

Construction started during the first quarter on both MacArthur Commons, a planned 395-unit multifamily development in Oakland, and Miller Cypress, a planned 260-unit multifamily development in South San Francisco. Construction continued on Culver City Office, Los Feliz, and Encore at Forest Park during the first quarter.

*Opinions or statements herein by participants in the BIT or third parties are not representations, warranties, or opinions of PNC Bank, National Association, trustee for the BIT. The inclusion or listing of these third parties or participants in the BIT also should not be considered an endorsement by these third parties or participants.

†Transactions listed here are not a complete list of transactions but contain a sampling of transactions in the portfolio. A complete list of transactions may be provided on request.  

Performance data shown represents past performance.  Past Performance does not guarantee future results.  For more information regarding the investments, risks, and expenses of the BIT, copies of the latest Investment Memorandum and the applicable plan documents for the BIT, including the trust agreement and a form of participation agreement, may be obtained by contacting 855-530-0640 or BITTrustOfficer@pnc.com  Please read the Investment Memorandum carefully before investing in the BIT.

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BIT News

AFL-CIO Building Investment Trust Announce Two New Developments in California The AFL-CIO Building Investment Trust ("BIT"),along with its joint venture partners, recently closed on two projects that are intended to generate hundreds of union construction jobs.
AFL-CIO Building Investment Trust Announces New Job Creating Development With Exciting New Video Wolf Point East is to be a 66-story, 750-foot tall mixed-use skyscraper that will generate nearly 300,000 hours of union construction work.
AFL-CIO Building Investment Trust & Joint Venture Partner Break Ground In St.Louis Missouri's labor community joined politicians, and real-estate developers to celebrate the groundbreaking of the second BIT multifamily residential project in St. Louis, Encore.