Sorgente Sgr | Results

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In 2001 Sorgente SGR, an Italian management company was the first to launch a closed-end real estate fund intended for qualified investors, the Michelangelo Fund, liquidated upon maturity on February 15th 2010, with an internal rate of return of 8.44%.


Michelangelo Fund
The Michelangelo Fund, launched in December 2001, was the first Italian real estate fund reserved for institutional investors. It was liquidated at maturity registering an Internal Rate of Return of 8.44% and with a Net Asset Value of € 204,000,000 which is almost the double of € 105,000,000 raised from investors at the end of 2001.

Type: Core Fund focused on investments in Italy (85%) and abroad (15%)
Duration: December 2001 – February 2010
Equity invested: € 105,000,000.00
Maximum number of real estate investments: 27 (year 2007)
Maximum volume of investments: € 456,000,000
Maximum Loan to Value: 52%

Michelangelo Fund graph

Strategy:

  • repositioning of the tenant
  • restoration projects intended for increasing the value of the building
  • sale on an opportunistic basis


Baglioni Fund
The Baglioni Fund, launched in July 2006, registered at liquidation an Internal Rate of Return of 7.69% and with a Net Asset Value of € 53,000,000 compared to the € 43,000,000 at the Fund’s launch.

Type: Core Fund focused on investments in Italy (89%) and abroad (11%)
Duration: June 2006 – December 2012
Equity invested: € 43,000,000.00
Maximum number of real estate investments: 6 (year 2010)
Maximum volume of investments: € 101,000,000
Maximum Loan to Value: 55%

Baglioni Fund graph

Strategy:

  • cooperative approach with the hotel management company which has made possible the restoration of the buildings increasing the value thereof and hence the economic yields of the hotels
  • sale on an opportunistic basis

SORGENTE SGR

Registered and Operational Office: Via del Tritone n, 132– 00187 ROME – Ph. (+39) 06.5833.2919/Fax (+39) 06.9029.2693
Web site: www.sorgentegroup.com  - e-mail address: segreteria@sorgentesgr.it
R.E.A. 935010 – VAT Code IT 05868181008 – SGR Register  n° 30
Issued and fully paid-up share capital: Euro 4.500.000
Company subject to management and coordination activity by Sorgente Group S.p.A.

© SORGENTE GROUP