Intercontinental Real Estate Corporation

What Intercontinental Real Estate Corporation does

Intercontinental Real Estate Corporation (IREC) is a privately held, SEC-registered investment adviser and Qualified Professional Asset Manager founded as a contractor in 1959 and operating as a real estate investment manager since the early 1970s. Headquartered in Boston with a West Coast office in Los Angeles, the firm manages, develops or owns approximately $11.5 billion in real estate property across 148 assets, 36.3 million square feet and 13,209 residential units as of late 2024/2025. It is family-controlled (Palandjian family) and operates with ~120 employees organized across a vertically integrated platform spanning investment management, development, construction management, asset management and portfolio management.

The firm invests across diversified property types — commercial office, residential, industrial, hotel, healthcare, retail and senior living — using Core, Core-Plus, Value-Add and development strategies. Its technology stack is built on industry-standard property and financial tools (Yardi for property management, ARGUS for financial modeling), supplemented by proprietary valuation and development models and in-house physical/financial/legal due diligence across asset management, development, research, engineering and legal functions. There is no indication of proprietary AI/ML or external-facing software products; the firm operates a Salesforce-based client extranet and a Yardi-powered investor reporting layer for institutional clients.

Revenue is generated through five primary streams: recurring asset management fees on managed capital, professional services fees for property management and supervision of third-party managers, development fees tied to projects, construction management fees for value-add projects, and transaction fees on acquisitions and dispositions. The customer base is almost entirely institutional — corporations, insurance companies, foreign governments, domestic and Taft-Hartley pension plans, university endowments, banks and high net-worth individuals — with distribution conducted through a dedicated Institutional Services team, a Consultant Relations Officer, and participation in industry conferences and associations (NAIOP, PREA, NAREIM, NCREIF). Pricing is bespoke and not publicly disclosed.

Name

Intercontinental Real Estate Corporation

Legal name

Intercontinental Real Estate Corporation

Website

https://intercontinental.net

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

51–100 employees

Short description

Intercontinental Real Estate Corporation is a privately held, SEC-registered investment adviser managing $11.5 billion in diversified U.S. real estate (office, residential, industrial, retail, senior living) for institutional clients including pension plans, Taft-Hartley funds, insurance companies, endowments and high net-worth individuals.

Ownership category

akta.pro rank

Product category

Institutional Real Estate Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Real Estate Property Managers (53131), Portfolio Management and Investment Advice (52394)

SIC

Real Estate Agents & Managers (For Others) (6531), Investment Advice (6282), Real Estate (6500)

akta.pro primary industry

Commercial Real Estate Asset Management (BPAJAMAB)

akta.pro secondary industries

Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA), Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG), Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE), Hospitality (Hotels & Resorts) Asset Management (BPAJAMAE)

Keywords

• Institutional real estate investment
• Real estate asset management
• Commercial property investment
• Real estate development services
• Construction management services

Headquarters

HQ city

Sherman Oaks

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Asset Management Fees: Ongoing fees for managing real estate investments across diversified property types including commercial office, residential, industrial, retail, and senior living.
2. Property Management: Property management services including supervision of third-party managers, property accounting, capital improvement planning, leasing, market analysis, and brokerage sales.
3. Development Fees: Fees for real estate development services including site selection, feasibility studies, entitlement and permits, architectural design and engineering, and project coordination.
4. Construction Management: Construction management services overseeing architects, consultants and contractors from start to finish for on-budget and on-time project delivery.
5. Acquisition and Disposition Transaction Fees: Fees generated from acquisition and disposition activities across the investment platform.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Intercontinental Real Estate Corporation is an SEC Registered Investment Adviser and Qualified Professional Asset Manager (QPAM) that provides institutional real estate investment management, asset management, real estate development, and construction management services. The firm invests in and manages diversified property types including commercial office, residential, industrial, retail, hotel, healthcare, and senior living assets across the United States on behalf of pension plans, insurance companies, Taft-Hartley Trust Funds, university endowments, banks, corporations, foreign governments, and high net-worth individuals.

Product overview

Intercontinental Real Estate Corporation is a SEC Registered Investment Adviser and Qualified Professional Asset Manager (QPAM) offering a comprehensive suite of real estate investment management services. The company operates as a platform combining Real Estate Investment Management, Real Estate Development, Construction Management, Asset Management, and Portfolio Management services. The portfolio spans diversified property types including office, residential, industrial, hotel, healthcare, retail, and senior living across Core, Core-Plus, Value-Add, and development strategies. Institutional Services provides dedicated client and consultant relationship management primarily serving Taft-Hartley and Public pension funds.

Differentiator

Problem solved

Functional benefit

Products and services

• Real Estate Investment Management An SEC Registered Investment Adviser service offering institutional real estate investment management solutions to corporations, insurance companies, pension plans, Taft-Hartley Trust Funds, banks, university endowments, and high net-worth individuals. The approach emphasizes capital preservation and value enhancement through risk-mitigated underwriting and portfolio construction.
• Real Estate Development Full-service development capability covering site selection, feasibility analysis, asset due diligence, acquisition, neighborhood meetings, entitlement and permitting, project coordination and management, architectural design and engineering, consulting, advisory services, and finance.
• Construction Management Construction oversight for value-add projects including pre-construction services, value engineering, estimating, environmental services, consulting, and project management, coordinating architects, consultants, and contractors from start to finish to deliver on-budget and on-time outcomes.
• Asset Management Comprehensive asset management services across diversified property types including property management, supervision of third-party managers, property accounting, capital improvement planning, leasing, market analysis, and brokerage sales.
• Portfolio Management Diversified real estate portfolio management across office, residential, industrial, hotel, healthcare, retail, senior living, and development projects targeting Core, Core-Plus, Value-Add, and development investment strategies.
• Institutional Services Client and consultant relationship management primarily focused on Taft-Hartley and Public pension funds, encompassing investor relations, marketing communications, consultant relations, and performance reporting.

Quantifiable outcome

• $11.5 billion in managed, developed, or owned real estate property
• +3 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Joint Venture Partners (Unspecified)coreStrategic or Co-development PartnerSouth Standard is described as a joint venture development for a mixed-use building. The specific JV partner entity is not named in the source material, but the arrangement involves collaborative development of the 214-unit residential project with ground floor retail in Boston, Massachusetts.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Heitman: Heitman is a global real estate investment management firm serving institutional investors including pension plans and endowments across private real estate equity and debt strategies. Heitman's institutional-only model and diversified property type exposure align closely with Intercontinental's positioning.
• TA Realty: TA Realty operates an open-end core real estate fund serving institutional investors with a similar diversified strategy and AUM range. Intercontinental's newly hired COO Sean Ruhmann was previously a Partner and Portfolio Manager at TA Realty, underscoring the direct comparability of business model and institutional client focus.
• AEW Capital Management: AEW is a global institutional real estate investment manager with core, value-add, and debt strategies serving pension funds and other institutions. Senior Director Steve Centrella previously worked at AEW, reflecting comparable product offerings and institutional client base.
• Clarion Partners: Clarion Partners is a dedicated U.S. real estate investment manager serving institutional clients with core, core-plus, value-add, and development strategies across property types. Its diversified institutional mandate set and AUM scale make it one of the closest comparables to Intercontinental's platform.
• Stockbridge Capital Group: Stockbridge is an institutional real estate investment manager focused on U.S. core, value-add, and development strategies for pension plans and other institutions. The comparable institutional-only distribution model and diversified property-type mandate structure make Stockbridge a close peer.
• Principal Real Estate Investors: Principal Real Estate Investors manages institutional separate accounts, commingled funds, and REITs across diversified property types and risk profiles. Its institutional client mix (pensions, insurance, endowments) and U.S.-centric diversified strategy mirror Intercontinental's core business.

Broad incumbents

• CBRE Investment Management: CBRE Investment Management is the global investment management arm of CBRE, managing hundreds of billions in real assets across direct equity, debt, and securities strategies. Senior Director Thomas Ball previously worked at CBRE Global Investors, evidencing comparable asset management capabilities, though CBRE IM operates at substantially larger scale.
• BentallGreenOak: BentallGreenOak (a Sun Life subsidiary) is a global real estate investment manager with institutional separate-account and fund offerings across property types. While operating at much larger scale and with broader geographic reach, it competes with Intercontinental for U.S. institutional mandates.
• PGIM Real Estate: PGIM Real Estate is the real estate investment business of Prudential's asset management arm, offering institutional debt and equity strategies across property types globally. While significantly larger and broader, PGIM Real Estate targets the same institutional LP base (pensions, insurance, sovereigns) as Intercontinental.

Emerging players

• Harrison Street: Harrison Street is an investment management firm focused on real estate and infrastructure across specialized sectors (education, healthcare, data centers). Its institutional client base and sector-diversified strategy overlap with Intercontinental's broader real estate platform, particularly senior living and healthcare.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/IntercontinentalREC
• LinkedInlinkedin.com/company/intercontinental-real-estate-corporation

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Intercontinental Real Estate Corporation