Intercontinental raises $877.7m for real estate fund
Intercontinental Real Estate Corp. has raised $877.7 million for its open-end U.S. Real Estate Investment Fund, according to a filing with the SEC. Diversified nationally, the foundation of the portfolio will be yield-driven assets consisting of all property types, including office, multifamily, industrial, retail and mixed-use. While the strategy is predominantly focused on core and core-plus properties, U.S. REIF also has the ability to invest on a select basis in value-add opportunities. Properties in its portfolio include Park Place, a retail center located in Palatine, Ill.; Capital Boulevard, a four-story office building in Rocky Hill, Conn.; and the Tucson Technology and Industrial Portfolio, six-building, multi-tenant industrial portfolio located in Tucson.