Portfolio Commentary*†

The AFL-CIO Building Investment Trust (“BIT”) reported gross and net returns of 1.62% and 1.39%, respectively for the second quarter of 2017. Gross and net returns for the one-year period ended June 30, 2017 were 5.92% and 4.98%, respectively.

During the second quarter, the BIT and a joint venture partner closed on the site acquistion of Wolf Point East, a multifamily development in downtown Chicago. In early June, the BIT sold the National Archives industrial property in Philadelphia.

In the second quarter active construction started on The National Apartments, a multifamily development in Philadelphia, while construction continued on five additional development investments.

*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.

**The Net Asset Value or "NAV" is the value of all investments owned, plus cash, receivables, and other assets minus the sum of BIT's debt on wholly-owned investments and BIT's proportionate share of debt on joint venture investments.

†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.