Intercontinental Real Estate Corporation
From Wikipedia, the free encyclopedia
| 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 $157 million, on behalf of one of its controlled funds.[7]
