WELCOME TO THE AFL-CIO
BUILDING INVESTMENT TRUST (BIT)
The ONLY commercial real estate fund licensed to use the AFL-CIO brand.
AT A GLANCE
Since 1988, the BIT has directly or indirectly invested more than $7.4 BILLION for the development and
acquisition of more than 200 office, retail, multifamily, hotel, warehouse, and mixed-use properties across the country.
The BIT invests in assets located in the communities where union families live and work.
learn how to
INVEST IN THE BIT
Competitive risk-adjusted returns for qualified union pension plans.
RICHARD L. TRUMKA
The BIT’s investments have helped to generate more than 80 million union construction hours since the Fund’s inception.
labor relations services
The AFL-CIO Investment Trust Corporation has been retained by PNC Bank to provide to the BIT labor relations services to assist with the implementation of, and compliance with, the union labor requirements for the BIT.
The labor relations staff is also available to:
Assist in identification of general contractors or construction managers who meet the requirements set forth in union labor policies;
Provide in-depth assistance on labor relations issues.
Projects in which the BIT invests must first and foremost meet financial and economic criteria and any specific underwriting criteria, which may be established from time to time by the Trustee. From among those investments that satisfy the BIT’s investment objectives and criteria, the Trustee selects investments that advance the Labor Policy.
In connection with debt and equity investment, all on-site construction work and tenant improvement work shall be performed by workers who are represented by unions affiliated with the Building and Construction Trades Department, AFL-CIO, and all such work shall conform to traditional craft jurisdictions as established in the area.
In connection with equity and equity-like investments, certain types of facilities, including but not limited to hotels, grocery stores, and parking facilities, shall be serviced by a workforce that is already organized by a union or unions affiliated with the AFL-CIO or be subject to appropriate neutrality and card check recognition arrangements.
In connection with equity and equity-like investments, the operation, repair and maintenance of facilities shall be serviced by contractors whose employees are represented by AFL-CIO affiliated unions, so long as such contractors are reasonably available in the market or, in the event that the manager chooses to provide such services directly (exclusive of building trades work), and its employees providing such services are not within a collective bargaining unit represented by an AFL-CIO affiliated union, then the manager shall enter into with applicable union the appropriate neutrality and card check recognition agreements.
Please contact the AFL-CIO Investment Trust Corporation for further information regarding the BIT’s union labor policies.