Intercontinental Real Estate Corporation – a national real estate investment, development and management firm headquartered in Boston, Massachusetts has acquired 1000 Massachusetts Avenue in Cambridge, Massachusetts.
1000 Massachusetts Avenue is a 105,062 square foot office building centrally located in Cambridge, MA between Harvard and Kendall Square. Built in 1982, the Property has four stories leased to three tenants: Cambridge College, Symmes Maini & Mckee Associates and Marketing Science Institute. There are a total of 192 structured parking spaces located two levels below the building.
Peter Palandjian, Chairman and CEO of Intercontinental commented, “Cambridge has been a priority investment market for Intercontinental for over five decades. It is one of the most dynamic and at once safest investment markets in the United States. We are very pleased to add this ‘backyard’ asset to our US REIF portfolio.
Intercontinental Real Estate Corporation is an SEC Registered Investment Adviser with decades long experience in real estate investment, finance, development, construction management and asset management. Since 1959, Intercontinental and its affiliates have managed, developed, or owned collectively over $10 billion in real estate property. Today, Intercontinental manages a real estate portfolio of approximately $6 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 development projects.