Board reviews private real estate history; InterContinental redemptions remain outstanding Investment consultant presented the timeline and performance of the pension’s private real estate allocation (Principal and InterContinental), noting strong earlier returns but liquidity limits after 2022; trustees asked about outstanding InterContinental redemptions (roughly $350,000 requested as of 09/30/2025).

Trustees are grappling with outstanding redemption requests and liquidity challenges in their private real estate investments, raising questions about the strategy's long-term viability.

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