After a full search process including some of the leading real estate investment firms, the Northeast Regional Council of Carpenters (NRCC) hired Intercontinental in 2010 to manage a portion of the union's pension investments in a strategic program that would invest in value-added and construction projects in New Jersey and the surrounding states, where they represent 30,000 members. "In these difficult economic times, I am glad that carpenters are investing capital funds to help finance this project," said Michael Capelli, Executive Secretary-Treasurer of the Northeast Regional Council of Carpenters. "Not only will this construction project create union jobs for NRCC members, the investment will strengthen our members' pension and annuity portfolios. It is good long-term financial strategy that provides excellent short-term benefits." To date, in addition to the Carpenters lead investment of $55 million, the New Jersey Laborers and the New Jersey Operating Engineers have also invested with Intercontinental for a combined amount of approximately $100 million.
Plainsboro Mayor Peter Cantu added, "We are delighted that Novo Nordisk has made the decision to remain and expand its presence in Plainsboro with a development project that will create jobs and deliver a high-quality building to our township. Novo Nordisk continues to be a great corporate citizen, and we thank them, as well as the ownership of this property, for investing in Plainsb
|SOURCE Ivy Equities|
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