Pnc Realty Investors, Inc.

PNC Realty Investors, Inc. is a registered investment adviser specializing in real estate investment advisory and management services for institutional clients, primarily commercial real estate. Established as a wholly owned subsidiary of PNC Holding, LLC, PRI advises PNC Bank, National Association, as trustee to the AFL-CIO Building Investment Trust (BIT). The BIT invests in real estate equity through joint ventures or wholly owned entities, with PRI responsible for transaction evaluation, due diligence, investment recommendations, and asset management. PRI also provides non-discretionary investment advice on cash investments. The firm's investment philosophy focuses on diversified, well-leased assets. PRI has limited discretion in BIT investments, with PNC Bank retaining ultimate responsibility. As of December 31, 2022, PRI managed approximately $4.6 billion in BIT real estate assets. The firm earns a .60% annual fee based on net asset value, with fees prorated for asset transactions. PRI does not charge performance-based fees, engages in side-by-side management, or accept compensation for securities sales. The firm has no disciplinary history and maintains a Code of Ethics to prevent conflicts of interest. Affiliated with PNC entities, PRI does not provide custodial services but is deemed to have "custody" due to PNC Bank holding client funds and securities.