CONNECTING DEVELOPERS AND UNION LABOR SINCE 1987
CONNECTING DEVELOPERSAND UNION LABORSINCE 1987
Founded in 1987, The ERECT Funds were conceived by PenTrust and the Building Trade Unions to provide financing for commercial real estate projects to be built using 100% union labor. For over thirty years, The ERECT Funds have been committed to investing in high quality projects in prime locations that promote job creation, generate investment returns, and stimulate economic growth by attracting new businesses and revitalizing neighborhoods in the geographical areas represented by our investors. The Funds’ investor base includes local union building trades pension funds as well as state, county and corporate investors. The ERECT Funds bring together developers, contractors, union construction professionals and local officials to align interests towards the betterment of our region.
PenTrust serves as the exclusive investment advisor and servicer to The ERECT Funds alongside AmeriServ Trust and Financial Services as trustee and asset manager. The ERECT Funds have provided over $617 million of debt and equity for the development of 120 properties in Pennsylvania, Ohio and West Virginia with an aggregate cost of $2.3 billion.