Boston, MA, January 11, 2007

Intercontinental Real Estate Corporation Appoints Jorge Molina to Accounts Payable Coordinator

Intercontinental Real Estate Corporation (“Intercontinental”), a national real estate investment, development and management firm headquartered in Boston, MA, announced the appointment of Jorge Molina to Accounts Payable Coordinator.

Mr. Molina is responsible for assisting in matters related to accounts payable for all Intercontinental related companies including posting invoices, processing payments, and resolving vendor issues.

Prior to joining Intercontinental, Mr. Molina worked at Boston Properties as an Accounts Payable Coordinator.  He was responsible for administering the accounts payable system, posting invoices and statements, and preparing and processing payments.  Previously, Mr. Molina worked as a Senior Telecommunication Specialist at HQ Global Workplaces, Inc., the world’s largest provider of outsourced workplaces.  He was responsible for overseeing the maintenance of networks and telephone/voicemail systems.

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 built, 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.