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. As of 2020, the corporation has handled over US$10 billion of real estate assets of all real property types. Intercontinental website. History. Access date:2014-02-05.
The firm was founded in Boston, Massachusetts in 1959 as a construction firm by Petros A. Palandjian, an Armenian immigrant from Iran.The Fifty Families, Part Two. Boston Magazine, 15 May 2006. Access date: 2014-02-05Peter Palandjian, executor, & another v. Gerald S. Foster. 446 Mass.100 5 Dec 2005 - 21 Feb 2006 Middlesex County. Access date:2014-02-05. Palandjian's son, Peter Palandjian, is the CEO.Fitzgerald, Jay. Peter Palandjian: Holding court in real estate investment management. Boston Business Journal, 2011 June 24. BizJournals.com Access date:2014-02-05.
Intercontinental acquired a 26,000-square-foot three-building office complex at Canal Park in Cambridge for $304 million in May 2016. 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.
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.
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