Finance/Accounting

David S. Carella,Director, Corporate Finance

David S. Carella is the Director of Corporate Finance. He has primary responsibility for non-fund accounting, bank reconciliation, accounts payables/receivables, payroll and benefits.

Mr. Carella has been a member of the Intercontinental team since 1993.  Prior to his current role at Intercontinental, Mr. Carella directed Performance Measurement and Investor Reporting and was responsible for producing financial statements for fund reporting, computing real estate investment fund returns, maintaining development budgets, preparing year-end work papers for third party audits and tax returns, designing and implementing accounting software, maintaining and reconciling general ledgers and supervising the accounting staff.

Mr. Carella earned his Associate in Science Degree from Quincy College and Bachelor of Science Degree in Accounting and Finance from Bridgewater State University.

davidc@intercontinental.net

Michael J. Munroe,Fund Controller

Michael J. Munroe is the Controller for Intercontinental Real Estate Investment Fund IV, LLC. He is responsible for producing financial statements for fund reporting, providing financial support of key transactions, overseeing external audit services and implementing and maintaining proper internal controls.

Prior to joining Intercontinental in 1997, Mr. Munroe formed The Munroe Company, Certified Public Accountants, specializing in accounting and tax consultation for real estate development, construction and property management firms. Prior to forming The Munroe Company, Mr. Munroe was a partner of Cullen, Murphy & Co., P.C., a Boston based CPA firm.

Mr. Munroe earned his BA from Middlebury College in 1976, his MBA from Suffolk University and his MST from Bentley College. He is a long standing member of the American Institute of Certified Public Accountants and the Massachusetts Society of CPAs.

mikem@intercontinental.net

Gregory D. Spencer,Fund Controller

Gregory D. Spencer is the Controller for Intercontinental Real Estate Investment Fund I and Fund III, Intercontinental Build Real Estate Investment Fund and U.S. Real Estate Investment Fund. Mr. Spencer is responsible for producing financial statements for fund reporting, overseeing external audit and tax services, and managing portfolio capital planning. Mr. Spencer also provides financial support for all facets of the Funds’ activities, including acquisition and disposition due diligence, financing reviews, lender compliance reporting, and investor performance and NAV reporting.

Prior to joining Intercontinental, Mr. Spencer was a supervisor at Braver & Co., a regional public accounting firm, where he provided a broad array of services including auditing, fund accounting, tax preparation, estate planning, management consulting and business valuation, with a particular emphasis in real estate.

Mr. Spencer graduated from Hartwick College, receiving a BS in Accounting and Management and a minor in Finance. 

gregs@intercontinental.net

Matthew Panos,Director of Human Resources

Matthew Panos is a founding member of the Intercontinental Companies and has served in various capacities within the Finance Division and Human Resources for over 50 years. Mr. Panos assists in planning, directing and coordinating all accounting functions with the organization. He also administers all human resources and benefit plans for Intercontinental.

Prior to joining Intercontinental in 1964, Mr. Panos served as the accounting leader to the Product Service Department for General Electric Company. He supervised all accounting functions, including generation and assembly of statistical data and preparation of financial statements. In addition, Mr. Panos served as junior accountant for the Rapids Furniture Company.

Mr. Panos is involved with numerous civic organizations. Mr. Panos received his Accounting & Finance degree from Bentley College in 1960.

Judy Chien,Fund Controller

Judy Chien is the Controller for Intercontinental’s U.S. Real Estate Investment Fund, LLC.  Ms. Chien is responsible for producing financial statements for fund reporting, providing financial support of key transactions, overseeing external audit services, and implementing and maintaining proper internal controls.

Prior to joining Intercontinental in 2005, Ms. Chien was Vice President for VEF Advisors, LLC in Atlanta, Georgia, where she provided an array of services including oversight for accounting functions, annual audit and tax coordination and financial reporting services for several closed-end opportunistic real estate funds.

Ms. Chien is a Certified Public Accountant and graduated from University of Georgia where she received a BBA in Accounting. 

judyc@intercontinental.net

William Bonina,Assistant Fund Controller

Mr. Bonina is responsible for assisting the IREIF III Fund Controller in preparing quarterly and year-end Fund financial statements and supporting work papers in addition to assisting in the supervision of the accounting department. Mr. Bonina assists in the preparation and completion of annual Fund audits as well as handling the day-to-day accounting for development projects in Intercontinental's Build Real Estate Investment Fund, LLC.

Prior to joining Intercontinental in 2005, Mr. Bonina was a Senior Accountant with Hospitality Properties Trust, where he was responsible for the accounting activities of 189 hotels. Previously, Mr. Bonina was a Senior Property Accountant for over ten years at Hines, a national real estate development firm headquartered in Houston, Texas. At Hines, Mr. Bonina performed all accounting activities for two mixed-use buildings with over 1 million square feet of net rentable space.

Mr. Bonina earned a BS in accounting from Fitchburg State University.

williamb@intercontinental.net

Tracy A. Stewart,Senior Application Specialist

Ms. Stewart is responsible for assisting the Fund Controller for U.S. Real Estate Investment Fund, LLC in preparing quarterly and year-end Fund financial statements and supporting work papers. In this role, Ms. Stewart is responsible for maintaining and reconciling general ledgers; conducting routine internal audits; and acting as a liaison between third party independent auditors.

Ms. Stewart has been with Intercontinental since 2000. Previously, Ms. Stewart worked as Intercontinental’s Accounts Payable Supervisor where she was responsible for the accounts payable for all Intercontinental related companies.

tracys@intercontinental.net

Richard D. Greve,Senior Property Accountant

Mr. Greve is responsible for assisting the IREIF III and US REIF Fund Controller’s in preparing quarterly and year-end Fund financial statements and supporting work papers.

Prior to joining Intercontinental in 2010, Mr. Greve was a Senior Property Accountant with Sawyer Realty Holdings, where he was responsible for the accounting functions of twelve multi-family properties. Previously, Mr. Greve was a Senior Accountant with IPC Midwest Management, a commercial real estate firm headquartered in Louisville, KY. He was responsible for the accounting functions of the corporate office and thirteen commercial properties located in the Midwest and Northeast.

Mr. Greve earned a BBA in accounting from Georgia State University.

May Yi,Senior Accountant

Ms. Yi's primary responsibility is to assist the Director of Finance in preparing financial statements for the four operating companies and the Palandjian Family's investments.   More specifically,  Ms. Yi is responsible for maintaining and reconciling monthly, quarterly and year-end general ledgers; generating financial reports; and acting as a liaison between third party independent auditors and the company.  Ms. Yi also supports the Director of Finance, Fund Controllers and Asset Management Teams to make executive financial decisions for the organization on an ad-hoc basis. Prior to her new role, Ms. Yi was the designated Senior Property Accountant for Intercontinental Real Estate Investment Fund III, LLC (IREIF III), assisting the Fund Controller in preparing year-end fund reporting for third party audits and tax returns, maintaining and reconciling general ledgers and financial reports.

Prior to joining Intercontinental, Ms. Yi was a Senior Property Accountant at CB Richard Ellis / NE Partner where she was responsible for analyzing monthly and quarterly GAAP financial statement packages for over 800,000 square feet of third party commercial properties. She monitored leasing status and ensured all operational, security deposits, and TI allowance charges were applied appropriately. Previously, Ms. Yi was a Property Accountant at Boston Properties, Inc. where she was responsible for auditing and preparing GAAP financial statements, and oversaw monthly tenant rental and additional charges.

Ms. Yi earned her BS in Accounting at Bentley College. She is a candidate at Boston University for a Certificate in Commercial Real Estate and a Certificate in Real Estate Finance.

mayy@intercontinental.net

Jorge Molina,Accounts Payable Manager

Mr. Molina is responsible for managing all matters pertaining to the Accounts Payable Department.

Oversees all AP Internal controls and procedures. He implements and maintains the Payscan electronic invoice system, handles all check disbursements, resolves vendor issues, and provides accounting assistance to the Asset Management and Accounting Department.

Prior to joining Intercontinental, Mr. Molina worked at Boston Properties as an Accounts Payable Coordinator. He was responsible for administering the accounts payable system, posting invoices and statements, and preparing and processing payments. Mr. Molina worked as a Senior Telecommunication Specialist at HQ Global Workplaces, Inc., the world’s largest provider of outsourced workplaces. He was responsible for overseeing the maintenance of networks and telephone/voicemail systems.

Mr. Molina holds a business certificate in Bookkeeping & Accounting and is currently working towards his B.A in Business Management with a concentration in Accounting at Umass Amherst.

jorgem@intercontinental.net

Lindsie Tosca,Assistant Controller

Ms. Tosca is responsible for assisting the US REIF Fund Controller in preparing quarterly and year-end Fund financial statements and supporting work papers in addition to assisting in the supervision of the accounting department. More specifically, Ms. Tosca is responsible for maintaining and reconciling general ledgers; managing fixed asset procedure, conducting routine internal audits and acting as a liaison between third party independent auditors.

Prior to joining Intercontinental in 2011, Ms. Tosca worked as an Accounting Manager at REIT Management and Research LLC. In this role, she was responsible for the accounting functions of a portfolio consisting of approximately 92 properties in over 6 states. She was responsible for the full month end close, including balance sheet, cash flow and income statement evaluation and analysis. Also responsible for the weekly check run, cash, GAAP accrual financial reports, monthly and annual CAM escalation billings and budgets. Ms. Tosca previously worked as a Financial Analyst for MTV Networks.

Ms. Tosca earned a BS in Finance with a minor in Management from The University of Rhode Island.

lindsiet@intercontinental.net

Jazmin Tabares,Property Accountant

Ms. Tabares is responsible for assisting the Fund Controller for U.S. Real Estate Investment Fund, LLC in preparing quarterly and year-end Fund Financial Statements. In this role, Ms. Tabares is responsible for maintaining and reconciling general ledgers; conducting routine internal audits; and acting as a liaison between third party independent auditors.

Prior to joining Intercontinental in 2009, Ms. Tabares worked as an Internal Auditor for Accume Partners based in Boston, MA. In this role, she conducted operational, finance and compliance audits for community and regional banks located in the US New England Area. Previously, Ms. Tabares worked as a Property Accountant for Colliers Meredith & Grew, Inc., where she was responsible for preparing monthly statements for a number of commercial and residential properties in addition to assisting property managers with the preparation of annual budgets and year end operating expense reconciliations. Ms. Tabares has also held positions at H&R Block, and Hacienda Realty.

Ms. Tabares was commissioned as a 2LT from the Officer Candidate School at Fort Benning, GA in 2012. She also graduated as a Federal Certified Chemical Officer in 2013 from the Military CBRN School at Fort Leonardwood, MO. In 2014, Ms. Tabares served in the Middle East in support of “Operation Enduring Freedom” and is currently working as the Executive Officer for a US ARMY Chemical Reserve Company based in Boston.

Ms. Tabares earned both her BS in Business Administration and her MS in Accounting from Northeastern University. She is also a licensed Real Estate Salesperson in Massachusetts. 

jazmint@intercontinental.net

Daniel George,Accounts Receivable Manager

Mr. George is responsible for all matters pertaining to Intercontinental’s Accounts Receivable Department. In this role, he maintains all leases and security deposits as well as inputting charges and researching tenant-related issues. Mr. George also processes all monthly billings and records cash transactions, including all lockbox deposits.

Prior to joining Intercontinental in 2012, Mr. George worked as a Lease Analyst at REIT Management and Research in Watertown, MA. During his tenure there he was responsible for all leases and billings for over 800 tenants in the Northeast and Southeast regions. He acted as a hub for all leasing information, updating multiple leasing databases, and was the point of contact for all leasing issues for the tenants and staff within his regions.

Mr. George earned his BA in Economics from Assumption College.

 

 

dang@intercontinental.net

Lily Luc,Payroll and Benefits Coordinator

Lily Luc is responsible for managing the day-to-day payroll operations and handles all benefit plans to include: medical, dental, 401(k), as well as group life and disability. Mrs. Luc's day-to-day activities include, but are not limited to, electronic and paper file maintenance, vendor bill payments and any other associated administrative work.

Prior to joining Intercontinental in 2012, Mrs. Luc worked at Boston Land Company as a Payroll and Benefits Administrator. In this role, she was responsible for administrating their self-funded health and dental plan for 100+ employees in 5 states and managed all weekly payroll functions.

Mrs. Luc earned her BS in Management and Marketing from Northeastern University.

lilyl@intercontinental.net

Brandon Millen,Associate Director, Investment Reporting and Performance Measurement

Brandon Millen is responsible for compiling, calculating, and producing investor-level returns for each of the six funds to track performance against industry accepted benchmarks. This includes Net Asset Value and Time Weighted Returns, in addition to IRR calculations. Mr. Millen also works closely with Institutional Services, Asset Management, and Accounting groups to manage and streamline all internal quarterly financial reporting, which includes property-level financials, fund statistics, and market updates. He is charged with coordinating and managing RFP’s, RFI’s, ad-hoc investor/consultant requests, as well as administering client extranet reporting. He also assists with property valuations.

Prior to joining Intercontinental in 2013, Mr. Millen worked with Senior Housing Properties Trust as a Financial Analyst and Senior Corporate Accountant where he maintained their five-year financial forecast, assisted with financial reporting, prepared quarterly debt covenants for multiple senior notes and a revolving credit facility, and assisted with accounting functions for a portfolio with over 390 properties and $5 billion in gross investment value.

Mr. Millen earned his BS in Finance from Lehigh University and his MBA with a concentration in Finance from UMass Boston.

brandonm@intercontinental.net

Carlos Webster,Senior Property Accountant

Mr. Webster is responsible for assisting the Fund Controller for U.S. Real Estate Investment Fund, LLC (“US REIF”) in preparing quarterly and year-end Fund financial statements and supporting work papers.  In this role, Mr. Webster is responsible for maintaining and reconciling general ledgers, providing budget to actual variance analysis, cash flow and distribution projections, lender compliance reports, reviewing financial statements prepared by third party management companies, assisting with budgets, managing construction equity and loan draws, preparing common area maintenance (CAM) reconciliations, and acting as a liaison between third party independent auditors.

Prior to joining Intercontinental in 2015, Mr. Webster worked as a Senior Property Accountant at Winn Residential. As part of his responsibilities, Mr. Webster prepared financial statements for 24 properties, annual and mid-year budgets, budget to actual variance analysis, cash flow projections, as well as reviewing monthly financial packages prepared by Property Accountants.  As an integral part of his job, Mr. Webster worked on new acquisitions and worked closely with external auditors to complete year-end audits.

Mr. Webster earned a BSBA in Accounting from New England College of Business. He also holds a Massachusetts Real Estate License. 

carlosw@intercontinental.net

Heather Fleishman,Property Accountant

Heather Fleishman, Property Accountant, is responsible for assisting the Fund Controller for U.S. Real Estate Investment Fund, LLC in preparing quarterly and year-end Fund financial statements and supporting work papers. Ms. Fleishman is also responsible for maintaining and reconciling general ledgers; conducting routine internal audits; and acting as a liaison between third party independent auditors.

Prior to joining Intercontinental in 2013, Ms. Fleishman worked as an auditor for KPMG with a primary focus on real estate clients.

Ms. Fleishman earned her BBA in Accounting from the University of Massachusetts, Isenberg School of Management. Ms. Fleishman is a Certified Public Accountant.

heatherf@intercontinental.net

Nick Celata,Property Accountant

Mr. Celata is responsible for assisting the Fund Controller for U.S. Real Estate Investment Fund, LLC (“US REIF”) in preparing quarterly and year-end Fund financial statements and supporting work papers. In this role, Mr. Celata is responsible for reviewing financials prepared by third party management companies, maintaining and reconciling general ledgers, lender compliance reports, cash flow and distribution projections, and preparing common area maintenance (CAM) reconciliations.

Prior to joining Intercontinental in 2015, Mr. Celata worked as a Property Accountant at The Dolben Company. At Dolben, Mr. Celata accounted for a portfolio consisting of 12 properties. As part of his responsibilities, Mr. Celata prepared financial statements and supporting work papers, calculated distributions, and provided explanations for budget to actual variances.

Mr. Celata earned a BBA in Accounting from The University of Massachusetts Boston.

nickc@intercontinental.net

Yvonne Deng,Property Accountant

Ms. Deng is responsible for assisting the Fund Controller for U.S. Real Estate investment Fund, LLC in preparing quarterly and year-end Fund Financial Statements. In this role, MS. Deng is responsible for maintaining and reconciling general ledgers; conducting routine internal audits; and acting as a liaison between third party independent auditors.

Prior to joining Intercontinental in 2015, Ms. Deng worked as a Property Accountant for Wingate Management. At Wingate, Ms. Deng was responsible for monitoring daily cash balances; preparing detailed year-end financial reconciliations and monitoring daily cash balances.

Ms. Deng earned her BS in Accounting from University of Phoenix. 

yvonned@intercontinental.net

Lisa Brindisi-Jones,Tax Manager

Lisa Brindisi-Jones is the Tax Manager for U.S. Real Estate Investment Fund, LLC and Intercontinental Build Real Estate Investment Fund. Ms. Brindisi-Jones oversees the tax planning, fixed asset procedures and federal and state compliance for both funds as well as their joint ventures.

Prior to joining Intercontinental in 2016, Ms. Brindisi-Jones specialized in taxation for alternative investment clients, specifically Real Estate Investment Trusts (REITs) and partnerships, at Brown Brothers Harriman and Deloitte Tax LLP.

Ms. Brindisi-Jones earned a MSA/MBA from Northeastern University. She is a Certified Public Accountant in Massachusetts and holds memberships in the American Institute of Certified Public Accountants and the Massachusetts Society of CPAs.

lisab@intercontinental.net

Jenna Brown,Performance Analyst

Jenna Brown assists with the calculation of the funds' investor-level returns to track performance against industry accepted benchmarks. This includes Net Asset Value and Time Weighted Returns, in addition to IRR calculations. Ms. Brown also works closely with Institutional Services, Asset Management, and Accounting groups to manage and streamline all internal quarterly financial reporting, which includes property-level financials, fund statistics, and market updates. Ms. Brown also provides investor specific performance for presentations and manages investor audit information.  

Prior to joining Intercontinental in 2016, Ms. Brown worked for Bank of New York Mellon as a Performance Analyst.  In this role, she was responsible for providing high quality monthly performance, attribution, and risk statistics services to external domestic clients.  This included maintaining complicated benchmarks, detailed performance reports, and reconciliations with portfolio managers.  Her experience at the bank extended to Global Income and Tax and client reconciliations. 

Ms. Brown was a varsity ice hockey player at St. Anselm College where she earned her BA in Criminal Justice and Forensic Science.  She also earned her MBA in Finance from Endicott College, Van Loan School of Business.  

jennab@intercontinental.net

Gail Oda,Property Accountant

Ms. Oda is responsible for assisting the Fund Controller for U.S. Real Estate Investment Fund, LLC in preparing quarterly and year-end Fund financial statements. In this role, Ms. Oda is responsible for reviewing financials prepared by third party management companies, maintaining and reconciling general ledgers, cash flow projections, lender compliance reporting, and preparing common area maintenance (CAM) reconciliations.

Prior to joining Intercontinental in 2017, Ms. Oda worked as a Property Accountant at The Wilder Companies. In this role she was responsible for assisting the Director of Accounting in training and reviewing work prepared by Property Accountants, preparing financial statements for commercial properties, budget to actual variance analysis, assisting with annual budgets, and preparing common area maintenance (CAM) reconciliations. Previously, Ms. Oda was a Property Accountant with WS Development, one of the largest privately-held retail development firms in the U.S. where she was responsible for preparing monthly and quarterly financial statements, cash flow projections, preparing the annual budget for the properties within her portfolio, and common area maintenance (CAM) reconciliations.

Ms. Oda earned a BS in Management from Emmanuel College. 

GailO@Intercontinental.net