"That would be correct," one source tells GlobeSt.com inacknowledging that Intercontinental has emerged victorious in aspirited bidding competition. The asset was marketed by the Bostoninvestment team at Cushman & Wakefield. Brokers there declinedcomment on the matter, and calls to Invesco and Intercontinentalofficials were not immediately returned. The sale is slated tosometime this week, according to sources.

Among the supposed pluses of Somerset Court are a location justoff Route 128 in suburban Boston's core office market. Sourcesfamiliar with the investment maintain the property was also covetedfor the lead tenant, Partners Home Care, a well-known player in theregional healthcare network.

Intercontinental is an SEC registered investment fund advisorthat manages a diverse real estate portfolio valued in excess of$1.6 billion. The firm has a national CRE platform, having justlast week closed on a shopping center in Colorado one month aftersecuring another retail property in Joliet, Illinois.Intercontinental has office, industrial and hospitality holdings aswell, and in Massachusetts presently has property in Boston,Norwood and Quincy. Intercontinental already has other Walthamproperty in its portfolio, owning 48 Woerd Ave. since 2003 andacquiring 830 Winter St. in 2005, a 180,000-sf Class A buildingthat serves as headquarters to Praecis Pharmaceuticals.