Sorgente Asset Management LLC, a US registered company, was established in 2010 and appointed to structure and manage real estate finance products with the objective of launching US-regulated funds and REITs to offer to North American investors the Sorgente asset management experience. Sorgente Asset Management reflects the excellence established by the Group in real estate management and value enhancement in Italy. The core competencies are centered around the significant quality of projects and assets, characterized as Trophy Buildings. In line with these key elements, Sorgente Group’s US track record comprises the Chrysler and Flatiron Buildings in New York.
The project which Sorgente Asset Management is currently committed to involves the assembly of a pipeline of investment assets for a total of $120 million focussed primarily on trophy buildings in the area of Manhattan in New York.
Following the assembly of the portfolio, Sorgente Asset Management will seek to qualify as a domestically controlled REIT with the fundraising of capital from US institutional investors.
The use of a REIT structure allows the real estate investment vehicle to benefit from specific regulatory provisions and incentives associated with investments of US savings capital.
