Boston, MA, November 29, 2005

Intercontinental Real Estate Corporation Appoints William Smith to Director, Development and Construction

Intercontinental Real Estate Corporation, a national real estate investment, development and management firm headquartered in Boston, MA, announced the appointment of William Smith to Director, Development and Construction.

Mr. Smith’s primary responsibilities for Intercontinental’s Development and Construction team include opportunity identification, due diligence, feasibility studies, permitting and entitlement approval procedures, and coordinating and managing project teams. Throughout his career, Mr. Smith has been directly involved with the development and construction of over two million square feet of real estate. These major projects were developed throughout the United States, Canada, and New Zealand and span several asset types. 

Prior to joining Intercontinental, Mr. Smith was a private development consultant, working on several projects including The Great Harbor Yacht Club, a 400 member equity club located on the waterfront of the historic district in the Town of Nantucket, MA.   Previously, Mr. Smith was Vice President at the Boston firm of Cabot, Cabot & Forbes of New England where he was responsible for all facets of the development process.  Mr. Smith also worked in the Advisory Services Group at Spaulding & Slye Colliers International in Boston where his projects included the management of the $100 million Corporate Headquarters and R&D campus for Parametric Technology Corporation (PTC) that included a sale lease-back transaction to Boston Properties. Mr. Smith is a native of Auckland, New Zealand, where he graduated with a degree in Construction Management from the Auckland University of Technology.  Mr. Smith was transferred with Fletcher Construction and Property Group to the United States in 1991.

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 over $3 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 billion for its clients and is actively seeking opportunities to invest in core enhanced properties and value oriented development projects.