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
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.