|By PR Newswire||
|December 11, 2012 02:46 PM EST||
WASHINGTON, Dec. 11, 2012 /PRNewswire/ -- Multi-Employer Property Trust (MEPT) (www.mept.com) and Bentall Kennedy, real estate advisor to MEPT, announce the Fund's recent purchase of 475 Sansome Street, a 21-story, 353,269 square foot, office tower in downtown San Francisco, California. The transaction was brokered by the San Francisco office of Holiday Fenoglio Fowler (HFF).
"On behalf of MEPT, we have strategically focused on acquiring a select number of high-quality CBD office buildings in U.S. primary markets over the past eighteen months. 475 Sansome Street was particularly appealing since it is in a market with high barriers to entry, supply constraints and solid fundamentals driven by a diverse economic base. We believe market conditions in San Francisco suggest that office rents in the North Financial District submarket will continue to improve over the next few years," noted David Antonelli, Executive Vice President and MEPT Portfolio Manager at Bentall Kennedy. "Furthermore, 475 Sansome's sustainable features and energy-efficient operations are a complement to MEPT's existing office portfolio and consistent with the Fund's global leadership in environmental performance."
475 Sansome Street is more than 90% leased to tenants with strong credit quality, including high-profile technology companies and national and regional professional services firms. The property is attractive to tenants due to its convenient location, large and efficient floor plates, and above-average parking. 475 Sansome was awarded the Leadership in Energy and Environmental Design for Existing Buildings (LEED®-EB) Gold certification in 2010 by the U.S. Green Building Council® (USGBC) and has the E.P.A.'s ENERGY STAR designation. The location of the property is at the corner of Sansome Street and Clay Street in the North Financial District, which is immediately adjacent to the landmark Transamerica Pyramid Center, and two blocks from Embarcadero Center.
"With the acquisition of 475 Sansome, MEPT has successfully made investments of approximately $2.5 billion over the last three years to further its strategic plan," stated Jim Howard, Senior Vice President, Acquisitions, Bentall Kennedy. "We continue to seek attractive investment opportunities for the Fund. Our focus remains on identifying high-quality CBD office properties, grocery-anchored retail centers in urban infill or established suburban neighborhoods, and multi-family assets in urban markets serving the Echo-Boom generation."
MEPT is a $5.6 billion, open-end commingled real estate equity fund that invests in a diversified portfolio of institutional-quality real estate assets in 30 major metropolitan markets across the U.S. Founded in 1982, MEPT is owned by approximately 360 multi-employer, public employee and corporate pension plans. MEPT is recognized as a pioneer in Responsible Property Investing (RPI) and is one of the largest U.S. real estate funds that is signatory to the UN Principals for Responsible Investment (UN PRI) and the top-ranked diversified fund in the U.S. for sustainability and environmental performance by the Global Real Estate Sustainability Benchmark (GRESB). Please visit www.mept.com to learn more.
MEPT is managed by NewTower Trust Company which serves as trustee, fiduciary and investment manager. Bentall Kennedy serves as the real estate investment advisor. Landon Butler & Company, LP® provides investor relations services.
About Bentall Kennedy
Bentall Kennedy is one of North America's largest real estate investment advisors and one of its foremost providers of real estate services. Bentall Kennedy serves the interests of more than 500 clients across 140 million square feet of office, retail, industrial, residential and hotel properties totaling $29.8 billion throughout North America. Bentall Kennedy has a 100-year track record of delivering superior returns and a reputation for integrity, innovation and creating value. Bentall Kennedy is a member of UN PRI and is a recognized global leader in Responsible Property Investing. Bentall Kennedy includes Bentall Kennedy (Canada) Limited Partnership and Bentall Kennedy (U.S.) Limited Partnership. For more information, please visit www.bentallkennedy.com.
Pamela Silberman, SVP, Landon Butler & Company, MEPT Investor Relations/Media
Forward looking statements are subject to change due to market conditions or investment strategy execution, and past performance is not indicative of future results. Any assumptions should not be construed to be indicative of the actual events that will occur
SOURCE Multi-Employer Property Trust
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry’s single source for the cloud. Fusion’s advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including clou...
Dec. 7, 2016 10:03 AM EST
Unsecured IoT devices were used to launch crippling DDOS attacks in October 2016, targeting services such as Twitter, Spotify, and GitHub. Subsequent testimony to Congress about potential attacks on office buildings, schools, and hospitals raised the possibility for the IoT to harm and even kill people. What should be done? Does the government need to intervene? This panel at @ThingExpo New York brings together leading IoT and security experts to discuss this very serious topic.
Dec. 7, 2016 10:00 AM EST Reads: 372
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
Dec. 7, 2016 09:30 AM EST Reads: 830
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
Dec. 7, 2016 09:21 AM EST Reads: 149
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, sha...
Dec. 7, 2016 09:15 AM EST Reads: 1,068
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Dec. 7, 2016 09:15 AM EST Reads: 7,238
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, showed how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningful f...
Dec. 7, 2016 09:15 AM EST Reads: 4,601
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Dec. 7, 2016 08:30 AM EST Reads: 1,860
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Dec. 7, 2016 08:15 AM EST Reads: 484
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for ...
Dec. 7, 2016 08:00 AM EST Reads: 429
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Dec. 7, 2016 07:45 AM EST Reads: 819
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Dec. 7, 2016 07:30 AM EST Reads: 823
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Dec. 7, 2016 06:45 AM EST Reads: 1,998
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Dec. 7, 2016 06:30 AM EST Reads: 1,812
Kubernetes is a new and revolutionary open-sourced system for managing containers across multiple hosts in a cluster. Ansible is a simple IT automation tool for just about any requirement for reproducible environments. In his session at @DevOpsSummit at 18th Cloud Expo, Patrick Galbraith, a principal engineer at HPE, discussed how to build a fully functional Kubernetes cluster on a number of virtual machines or bare-metal hosts. Also included will be a brief demonstration of running a Galera MyS...
Dec. 7, 2016 06:15 AM EST Reads: 5,332