AFL-CIO fund to invest $1B in apartment development.(AFL-CIO Building Investment Trust )

From: Real Estate Weekly | Date: July 9, 2003 | Copyright information

The AFL-CIO Building Investment Trust (BIT), a $1.5 billion pooled real estate fund serving pension plans with union beneficiaries, has announced a new investment program that is expected to generate up to $1 billion in investment in apartment development by 2005.

The National Apartment Initiative (NAI) will seek to finance 25-30 projects, creating up to 4,000 multifamily housing units and millions of hours of union construction work nationwide.

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