Search
 

The Birth of a Fund

SAN DIEGO—The Heritage Group realized that it could be even more effective if it had discretionary capital available when good opportunities presented themselves, and the concept was well received by its clients, Rocco Cortese tells GlobeSt.com.

Rocco Cortese Cortese: “We found that, in many cases, those investors could really use help to understand the complexities of acquiring and managing a commercial property.”

SAN DIEGO—The Heritage Group realized that it could be even more effective if it had discretionary capital available when good opportunities presented themselves, and the concept was well received by its clients, managing director Rocco Cortese tells GlobeSt.com. The San Diego-based real estate firm recently launched its first fund product, the Heritage Core Value Fund, and is planning a $50-million equity raise for it.

With leverage in place, the company expects a total capitalization of the fund to be in the range of $100 million to $125 million. Target investors in the fund will include a mixture of high-net-worth individuals, family offices, trusts and registered investment advisors.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Carrie Rossenfeld

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

More from this author

Recommended Stories

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.