WASHINGTON, DC-Multi-Employer Property Trust is clearly an investor that does not shun many asset classes. Does it have the currently ill favored office in its portfolio? Check. The much beloved, depending on the location retail? Yes. The ever hot multifamily? Ditto. Industrial? Ibid. “Since 2009, the fund has acquired existing assets and made commitments to development projects totaling more than $2.1 billion in investment in order to achieve strategic goals of diversifying the portfolio and increasing MEPT’s presence in major US cities,” says David Antonelli, EVP and MEPT portfolio manager at Bentall Kennedy, real estate advisor to MEPT, in a prepared statement.

If the mission statement of the locally-based $5.6 billion, open-end commingled real estate equity fund were not enough, a recent acquisition spree by the fund also makes clear it is open to all flavors of asset categories. It just snapped up assets in Boston, Denver, New Jersey and Philadelphia in the multifamily, industrial and retail categories, respectively. These assets traded for a total of $192 million. Separately, the company acquired a 218-unit apartment community it acquired in Dallas last month for an undisclosed amount.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt. Multifamily Fall 2024Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.