Boston, MA, January 24, 2007

Intercontinental Real Estate Corporation Appoints Alissa Crafa to Portfolio Analyst

Intercontinental Real Estate Corporation (“Intercontinental”), a national real estate investment, development and management firm headquartered in Boston, MA, announced the appointment of Alissa Crafa to Portfolio Analyst.

Ms. Crafa assists in creating and maintaining pro forma financial models related to Intercontinental’s existing portfolio of assets.  She is responsible for performing financial analyses and valuations to help management in the budgeting, forecasting, leasing, and portfolio decision-making process.

Prior to joining Intercontinental, Ms. Crafa worked as an Acquisition Analyst and Asset Manager at The Broe Companies, a real estate investment company in Denver.   Ms. Crafa was responsible for evaluating potential commercial real estate investments and managing a national portfolio of 20 medical office properties.  Ms. Crafa also was Vice President of Corporate Real Estate at JP Morgan Chase in Chicago and a Research Associate in the Equity Research REIT Group at Smith Barney in New York City. 

Ms Crafa earned her Bachelors in Mathematics with a concentration in Business from the University of Connecticut.

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 $1.6 billion for its clients and is actively seeking opportunities to invest in core enhanced properties and value oriented development projects.