News

Boston, MA June 30, 2014

Intercontinental Acquires Eurus Office Portfolio in Austin, Texas on Behalf of U.S. Real Estate Investment Fund, LLC

Intercontinental Real Estate Corporation (“Intercontinental”) a national real estate investment, development, and management firm headquartered in Boston, MA announced the acquisition of Eurus Office Portfolio in Austin, Texas. The acquisition, made on behalf of Intercontinental’s U.S. Real Estate Investment Fund, LLC (“US REIF”), was led by Steve Centrella and Chris LaFrance of Intercontinental.

Eurus Office Portfolio consists of eight (8) Class A/B office properties located in Austin, Texas. The eight buildings were built between 1980 and 2002 and are located within a 5-mile radius of one another within the Northwest submarket, just 7 miles outside of downtown Austin. Most of the buildings benefit from excellent freeway visibility and accessibility, from both the MoPac Expressway and the North Capital of Texas Highway. Current tenants hail from industries such as Healthcare, Energy, Information Technology, Telecommunications, Legal/Accounting/Finance, and professional staffing. Notable tenants include Capital One Financial Corp, Girling Healthcare inc, and Harden Healthcare Services LLC.This asset was purchased in a joint venture with Eurus Capital.

Going forward The Kucera Companies will perform property management and leasing services. Chris Tully and Nicole Griffin from Intercontinental will be the asset manager and assistant asset manager respectively.  

Intercontinental Real Estate Corporation is an SEC registered investment adviser with expertise in real estate investment, development, asset management, and construction management. Since inception in 1959, Intercontinental has managed, developed, and owned over $8 billion in real estate property. Today, Intercontinental owns and manages a portfolio in excess of $3.2 billion for its clients. Intercontinental balances its portfolio both by robust property mix and by geographic diversification, while actively seeking opportunities to invest in both core and core plus, as well as value-add development projects. Visit www.Intercontinental.net or call (617) 782-2600 for more information.