Intercontinental Real Estate Corporation
| Industry | real estate |
|---|---|
| Founded | 1959 |
| Founder | Petros A. Palandjian |
| Headquarters | Boston, Massachusetts |
The Intercontinental Real Estate Corporation is a SEC Registered Investment Adviser that manages private equity real estate investments and provides real estate services for domestic and international clients.[1] Established in Boston, Massachusetts in 1959 as a construction firm by Petros A. Palandjian, an Armenian immigrant from Iran,[2] the corporation has acquired, developed, managed, and owned over US$10 billion of real estate assets of all real property types. [3] Petros Palandjian died in 1996[4] of gastric cancer.[5] His son, Peter Palandjian, is the CEO [6] of Intercontinental Real Estate Corporation.
Today[when?], Intercontinental manages a portfolio of over $4 billion for its clients. The Intercontinental portfolio is diversified both by robust property mix and by geography. Fund strategies actively seek opportunities to invest in both Core and Core-Plus properties, as well as in Value-Add operating properties and development projects.[citation needed]
In December 2019, Intercontinental Real Estate Corporation bought its first commercial office asset at the Roosevelt Commons, Seattle for $157m, on behalf of one of its controlled funds.[7]
References
[edit]- ^ Intercontinental Real Estate Corporation Website Archived 2014-02-08 at the Wayback Machine. About Us. Access Date: 2014-02-05.
- ^ The Fifty Families, Part Two. Boston Magazine, 15 May 2006. Access date: 2014-02-05
- ^ Intercontinental website. History. Access date:2014-02-05.
- ^ Petros Palandjian, 59 Real estate developer, investor. Boston Globe. 15 August 1996. Access date:2014-02-05.
- ^ Peter Palandjian, executor, & another v. Gerald S. Foster. 446 Mass.100 5 Dec 2005 - 21 Feb 2006 Middlesex County. Access date:2014-02-05.
- ^ Fitzgerald, Jay. Peter Palandjian: Holding court in real estate investment management. Boston Business Journal, 2011 June 24. BizJournals.com Access date:2014-02-05.
- ^ "Intercontinental Real Estate fund acquires first office asset in Seattle for $157m". IPE Real Assets. 17 December 2019. Retrieved 1 June 2020.
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