At the end of the 7-year period, the real estate holdings within the fund remain as part of the fund's assets. They are not distributed to investors upon redemption. Instead, when an investor redeems their interest in the exchange fund, they typically receive a diversified basket of securities that represents their share of the fund's total assets, excluding the real estate investments.

The value derived from the real estate investments is reflected in the overall value of the fund and, consequently, in the value of the securities distributed to the investor. The real estate investments continue to be managed by the fund or its designated real estate managers to contribute to the fund's performance and objectives.

See more about how redemptions from an exchange fund work.