Boston, MA, September 21, 2007

Intercontinental Real Estate Corporation Announces Opening of Office in Los Angeles, California and Appointment of Jessica Levin to Director, Acquisitions

Intercontinental Real Estate Corporation (“Intercontinental”), a national real estate investment, development and management firm headquartered in Boston, MA, announced that it will be opening an office in Los Angeles California in the first weeks of October.  Intercontinental has hired Jessica Levin as a Director, Acquisitions and to open the new office.

Intercontinental’s recent launch of U.S. Real Estate Investment Fund, LLC precipitated the need for the LA office.  “With an increasing need to evaluate acquisition opportunities on the west coast, we no longer found it efficient to lead these searches from our corporate office in Boston.  Opening an office in LA will help streamline our acquisition efforts and is a reflection of our continued national expansion,” commented Peter Palandjian, Chairman & CEO of Intercontinental. 

Ms. Levin works in Intercontinental’s West Coast Office located in Los Angeles. Ms. Levin is responsible for evaluating acquisition opportunities for Intercontinental sponsored funds with a primary focus on Western United States.  She oversees the solicitation, analysis, underwriting and negotiation of all real estate acquisitions.  Ms. Levin also participates in the documentation, due diligence and reporting of these transactions.   Prior to joining Intercontinental, Ms. Levin worked in Acquisitions at Colony Realty Partners in Los Angeles.  In this role, she underwrote acquisitions totaling over $250 million (1.5 million square feet) of both office and industrial product on the West Coast.  Ms. Levin managed and coordinated all aspects of the due diligence process; data collection; and organization and analysis of potential property acquisitions.  Previously, Ms. Levin held positions at Arden Realty, Jones Lang LaSalle and Archon Group.  Ms. Levin earned her BA from the University of Wisconsin-Madison.

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 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.