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Intercontinental says urban rebound and life‑science holdings support REIF returns
Summary
Intercontinental managers told the Danvers Retirement Board their U.S. REIF aims to preserve capital and outperform NFI‑ODCE, citing city repopulation and limited exposure to life‑science property as a potential source of stability and future returns.
Andrew Brett, Senior Director of Portfolio Management at Intercontinental, reviewed the U.S. REIF strategy with the Board and restated the fund’s objectives: "Preserve and protect investor’s capital, Provide potential for capital appreciation and Outperform the NCREIF Fund Index Open-End Diversified Core Equity (the NFI-ODCE)." He said the fund is slightly overweight in real estate compared with NCREIF but expects an uptick as population returns to cities.
Kristin Phalen, Director of Client Services & Institutional Services, emphasized that Intercontinental is a private company and that their advisory board is not a fiduciary board. The presenters said a modest allocation to life‑science properties is viewed as solid for medical facility use and that roughly 20% of their investments are in long‑term leasing positions.
