Intercontinental Real Estate Corporation
| Industry | real estate |
|---|---|
| Founded | 1959 |
| Founder | Petros A. Palandjian |
| Headquarters | Boston, Massachusetts |
Intercontinental Real Estate Corporation is an American asset management firm. Registered as an investment adviser through the SEC, it manages on core, core-plus and value-add investments in commercial and residential properties across the United States.[1] As of 2020, the corporation has handled over US$10 billion of real estate assets of all real property types. [2]
The firm was founded in Boston, Massachusetts in 1959 as a construction firm by Petros A. Palandjian, an Armenian immigrant from Iran.[3][4][5] Palandjian's son, Peter Palandjian, is the CEO.[6]
Intercontinental acquired a 26,000-square-foot three-building office complex at Canal Park in Cambridge for $304 million in May 2016.[7] In December 2019, Intercontinental Real Estate Corporation bought its first Seattle-based commercial office asset at the Roosevelt Commons for $157 million, on behalf of one of its controlled funds.[8]
In July 2026, Intercontinental purchased the 125,233-square-foot Lakeland Town Center, a grocery-anchored retail center located approximately 20 miles south of Seattle.[9]
References
[edit]- ↑ "Intercontinental Real Estate Corporation overview". PEI. Retrieved July 16, 2026.
- ↑ Intercontinental website. History. Access date:2014-02-05.
- ↑ The Fifty Families, Part Two. Boston Magazine, 15 May 2006. Access date: 2014-02-05
- ↑ Petros Palandjian, 59 Real estate developer, investor. Boston Globe. 15 August 1996. Access date:2014-02-05.
- ↑ Peter Palandjian, executor, & another v. Gerald S. Foster. 446 Mass.100 5 Dec 2005 - 21 Feb 2006 Middlesex County. Access date:2014-02-05.
- ↑ Fitzgerald, Jay. Peter Palandjian: Holding court in real estate investment management. Boston Business Journal, 2011 June 24. BizJournals.com Access date:2014-02-05.
- ↑ Jon Chesto (May 10, 2016). "Intercontinental Real Estate acquires Cambridge office complex for $304m". Boston Globe. Retrieved July 16, 2026.
- ↑ "Intercontinental Real Estate fund acquires first office asset in Seattle for $157m". IPE Real Assets. 17 December 2019. Retrieved 1 June 2020.
- ↑ Shawna De La Rosa; Grant Welker (July 16, 2026). "Boston investor pays $70 million for West Coast shopping center". Boston Business Journal. Retrieved July 16, 2026.
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