Intercontinental Real Estate Corporation

Last updated
Intercontinental Real Estate Corporation
Industry real estate
Founded1959
FounderPetros 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

  1. ↑ Intercontinental Real Estate Corporation Website Archived 2014-02-08 at the Wayback Machine . About Us. Access Date: 2014-02-05.
  2. ↑ The Fifty Families, Part Two. Boston Magazine, 15 May 2006. Access date: 2014-02-05
  3. ↑ Intercontinental website. History. Access date:2014-02-05.
  4. ↑ Petros Palandjian, 59 Real estate developer, investor. Boston Globe. 15 August 1996. Access date:2014-02-05.
  5. ↑ Peter Palandjian, executor, & another v. Gerald S. Foster. 446 Mass.100 5 Dec 2005 - 21 Feb 2006 Middlesex County. Access date:2014-02-05.
  6. ↑ Fitzgerald, Jay. Peter Palandjian: Holding court in real estate investment management. Boston Business Journal, 2011 June 24. BizJournals.com Access date:2014-02-05.
  7. ↑ "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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