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$500m opportunity knocks for Intracorp: fund helps companies buy properties, hold them until market improves.

Publication: San Diego Business Journal
Publication Date: 26-MAY-08 		Format: Online
Delivery: Immediate Online Access
Full Article Title: $500m opportunity knocks for Intracorp: fund helps companies buy properties, hold them until market improves.(Intracorp Real Estate L.L.C.)

Article Excerpt
The developer-owner of the downtown Park Terrace condominiums is changing stripes in the middle of the market downturn.

Instead of new construction, the Intracorp Cos. will focus on acquiring properties through a third-party "Opportunity Fund" during the next two years and use its expertise to maximize the value of those properties.

Intracorp, which consists of five West Coast companies, recently unveiled a $500 million fund to acquire undeveloped, residential properties in the West.

The largest chunk--as much as 30 percent of the fund--will be spent on San...

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