MORE ABOUT THE ERECT FUNDS
BUILDING SOLID INVESTMENT RETURNS FOR TOMORROW, AND CREATING UNION JOBS TODAY
The Employee Real Estate Construction Trust Funds (“The ERECT Funds”) are commingled real estate investments that provide qualified retirement plans the opportunity to diversify their existing stock and bond portfolios with a range of solid commercial and industrial real estate. For over three decades, The ERECT Funds have provided secure investments with competitive rates of return in real estate projects.
The ERECT Funds invest in to-be-built projects or rehabilitation projects using only contractors or subcontractors that are signatories to a collective bargaining agreement recognized by the local Building and Construction Trades Council and the Area Regional District Council of Carpenters; therefore, increasing the construction market share for union labor.
The ERECT Funds have become highly visible as a catalyst for regional economic development in Western Pennsylvania, Eastern Ohio and West Virginia. The Funds’ objective is to participate in projects from the geographical areas represented by our investors, providing numerous and on-going benefits to all of our investors.
Finally, an Investment that's right for Union Funds
AmeriServ Trust and Financial Services Company is the trustee for The ERECT Funds and is one of the fastest growing providers of professional investment and trust administrative services in the tri-state area. The Trust Company provides personal, reliable service supported by a staff of experienced trust and investment professionals. Always mindful of each client's goal, AmeriServ Trust and Financial Services Company strives to achieve above-average results with the lowest possible exposure to risk.
PenTrust Real Estate Advisory Services, Inc. works on behalf of The ERECT Funds to structure potential transactions, analyze and underwrite each project, and monitor all investments once they have been committed by the Fund trustee. The firm was incorporated in October, 1987, and has been associated with The ERECT Funds since their inception.
To meet the needs of pension plans, The Employee Real Estate Construction Trust Funds have a number of features that provide maximum advantage to participants.
The program is structured as a collective trust fund with AmeriServ Trust and Financial Services Company as trustee. In this capacity, the Trustee is responsible for the daily administration and investment decision-making of the Trusts. This includes compliance with applicable laws and regulations relating to the Trusts and the Trust’s investors.
The Trusts provide excellent diversity to the portfolios of multi-employer, single employer or public pension plans at a reasonable cost. The collective trust fund structure provides for shared risk, and attractive feature for large and small investors alike.
The ERECT Funds also provide personalized service to its participants. The Funds work with pension fund trustees and managers, local unions, developers and governmental leaders to identify investment opportunities and promote development in communities in Western Pennsylvania, Eastern Ohio and West Virginia. Solid investment opportunity, diversification and union job creation are the trademarks that separate The ERECT Funds from other choices .
Creating new opportunities for union men and women
The ERECT Funds are dedicated to creating employment opportunities for union men and women by investing in commercial real estate projects in Western Pennsylvania, Eastern Ohio and West Virginia. In addition to providing solid rates of return, The ERECT Funds are a force for economic development because of its commitment to 100% union-built construction projects.
The Funds’ long-standing philosophy is to participate in projects from geographical areas represented by our investors.
Diversity of Investment
The ERECT Funds invest in all kinds of communities through a wide range of projects including retail, office, light manufacturing, research and development and multi-residential properties.
The ERECT Funds only work with quality commercial real estate developers that abide by the highest quality construction standards. To ensure those quality standards, all projects are fully constructed by the building and construction trade unions.
The ERECT Funds Advisory Board
The purpose of The ERECT Funds Advisory Board is to give advice on the appropriateness of investments in the Funds. This enhances the communications between the investors and the trustee bank. The ultimate responsibility of the investments, custody and accounting always remain with the bank trustee, AmeriServ Trust and Financial Services Company and the fund's professional real estate advisor, PenTrust Real Estate Advisory Services, Inc. Membership of The ERECT Funds Advisory Board consists of labor and management representatives from a number of investor boards and pension trustees.
The Trust Specialty Real Estate Investment Committee
Established by the Funds’ trustee, AmeriServ Trust and Financial Services Company, The Trust Specialty Real Estate Investment Committee plays an important role in the approval and administration of debt or equity real estate investments being considered as an investment in the funds. They carefully review each potential investment for adherence to the underwriting criteria established for the funds, review project documentation and consider the geographic and project diversification effects to the funds’ portfolio. If approved by the committee, the ERECT Funds proceed with an investment in the project.
For more information on the Funds Trustee, click here:
For more information on the Funds Trustee, click here: