Boston, MA, November 26, 2007

Intercontinental Announces the Promotion of Nicholas Haney to Project Manager

Intercontinental Real Estate Corporation (“Intercontinental”), a national real estate investment, development and management firm headquartered in Boston, MA, announced the promotion of Nicholas Haney to Project Manager in Intercontinental’s Development and Construction group.

As Project Manager, Mr. Haney will be responsible for assuming a lead role in opportunity identification, feasibility studies and participating in the entitlement process for Intercontinental’s Development team.  Mr. Haney will conduct and coordinate feasibility studies and due diligence for project proposals, including financial analysis, development scenarios and environmental impacts. 

Mr. Haney has been a member of the Intercontinental team for two years.  Prior to joining Intercontinental, Mr. Haney was a Senior Project Manager of Development Review and Economic Development at the Boston Redevelopment Authority.  Mr. Haney administered development review of the City of Boston Zoning Code for project proposals ranging in size from 20,000 square feet to over 50,000 square feet consisting of more than 1,800 units, 4,000,000 gross square feet and a total development cost of approximately $900 million.  He guided and coordinated the passage of proposals through the design and development review process.  Mr. Haney established and cultivated effective working relationships with community groups, elected officials and abutters to effectively analyze project proposals and their potential impact on surrounding communities.  Mr. Haney earned his Bachelor of Science from Northeastern University.  He is a member of the National Association of Office and Industrial Properties (NAIOP).

Intercontinental Real Estate Corporation is an SEC registered investment adviser and real estate operating company with expertise in real estate investment, development, construction management, and asset management. The company has developed, managed and owned over $4 billion in real property assets across all property types including commercial, mixed use, hotel, recreational and residential projects.  Presently, Intercontinental owns and manages a portfolio in excess of $1.8 billion for its clients and is actively seeking opportunities to invest in core, core plus as well as value oriented development projects.

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