SAN DIEGO—The spread between value-and stabilized property returns is abnormally high, which is why the Heritage Group looks to add value for higher cap rates, managing directors Mark Hoekstra and Rocco Cortese tell exclusively. We sat down with the principals as the CRE and investment-advisory firm, which has deployed more than $300 million of investor capital in commercial real estate, its 10-year anniversary this year to discuss the types of investments the firm makes, remaining competitive in a market that’s on fire and how they envision the firm’s future. What do you look for in the commercial real estate properties in which you invest?

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