Sorgente Group

The Sorgente Group has origins dating back to 1919 in the USA and 1910 in Italy.

In Italy between 1910 and 1943 the business focuses on iron manufacture, keeping a handcraft division dedicated to artistic productions, which after the Second World War, shifted towards the construction of major engineering works such as the Frascati Synchrotron, the Alfa Romeo plant in Arese and steelworks at Terni and Taranto.

In the mid ‘70s a division for Social Housing was established in Italy and abroad. At the end of the 1990s, Sorgente was reorganized with its activities being directed towards the real estate financing sector, with the aim of carrying out investments and establishing real estate funds. Sorgente SGR was thus established: since 2001, the Group has launched 37 real estate funds.

After the crisis of 1929 there was a decline in industrial manufacturing, so the American branche was transformed into a real estate business, and as such operated until the end of the ‘90s.

In 1919, through several companies which are still part of the Group today, the American branch began to develop its entrepreneurial activities, distinguishing itself in the New York real estate market through a company specialized in multi-storey steel structures and by participating in the construction of several buildings, including the expansion of the N.Y. Stock Exchange building in 1923 (Trowbridge and Livingstone project) and the construction of Van Alen's Chrysler Building in 1928.

Significant real estate operations

In 2006, Michelangelo Real Estate Corporation acquired 17% of the Flatiron Building in New York.

Subsequently, in 2009, Sorgente Group of America acquired the majority of the shares of the skyscraper

In 2009, the Donatello Fund, Sub-fund David, acquired the Galleria Colonna of Rome, renamed Galleria Alberto Sordi.

In June 2012 The Sorgente Group acquired the Fine Arts Building of Los Angeles in the United States.