Ohio Bureau of Workers Compensation (BWC) has, in the current quarter, filed for $200.3m (€173m) worth of new redemptions out of its core open-ended real estate fund portfolio, according to the insurer’s meeting document.

The move is part of Ohio BWC’s plan to redeem up to $875m capital out of core and core-plus open-ended real estate funds to be used as part of payments being made to workers adversely impacted by the coronavirus pandemic.

In the latest redemptions, the provider of workers’ compensation insurance is taking $53.6m from the $376.5m it holds in the Invesco Core Real Estate USA fund and has requested to redeem $56.4m out of its $250.2m held in the ASB Allegiance Real Estate Fund.

Both Invesco Real Estate and ASB Real Estate Investments declined a request for comment.

Ohio BWC has also requested $44.8m from the AEW Core Property Trust and $32.6m from the Heitman America Real Estate Trust.

Back in August, IPE Real Assets reported that Ohio BWC had filed for $398.8m worth of redemptions.

NEPC, Ohio BWC’s real estate consultant, said in the meeting document that in light of improving market conditions and the receipt of significant redemptions since June of this year, Ohio BWC is considering terminating the remaining redemption requests.

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