Boston, MA, January 4, 2008

Intercontinental Announces the Promotion of Tracy Stewart to Property Accountant

Intercontinental Real Estate Corporation (“Intercontinental”), a national real estate investment, development and management firm headquartered in Boston, MA, announced the promotion of Tracy Stewart to Property Accountant in Intercontinental’s Finance and Accounting Group.

As Property Accountant, Ms. Stewart will be 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, Ms. Stewart will be responsible for maintaining and reconciling general ledgers; conducting routine internal audits; acting as a liaison between third party independent auditors; and calculating priority return distributions.

Ms. Stewart has been a member of the Intercontinental team for over 7 years.  Previously, Ms. Stewart worked as Intercontinental’s Accounts Payable Supervisor where she was responsible for the accounts payable for all Intercontinental related companies. 

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.