Veronica Mainetti
Veronica Mainetti (born 26 June 1978 in Rome) is an Italian entrepreneur who lives and works in the USA, President and shareholder of Sorgente Group of America and General Manager of Michelangelo Real Estate Corporation, the company through which Sorgente Group has conducted real estate investment operations in the United States for a total of $2 billion. She is also CEO of Sorgente Asset Management, a company engaged in real estate management, advisory and brokerage. In addition, she is President of the Sorgente Group Foundation in the USA(1), which focuses on charitable works. In July 2015, she has been named by the "New York Post" as one of the 20 most influential people in New York real estate(2).
Training and beginnings
After graduating in Design at European Institute of Design in Rome, she moved to New York in 2003 and attended Parsons Institute of Design. In the same year she takes the helm at Sorgente Group of America, with responsibility for real estate investment operations in the US. In particular, she takes part in negotiations for the acquisition of a significant stake in the Chrysler Building - then resold in 2008 - and for the acquisition of the majority of the Flatiron Building in New York(3).
History
The great-grandfather of Veronica, Luigi Binda, founded a company in New York in 1919, specialized in the assembly of iron structures (amongst the work carried out there are the Chrysler Building and the expansion of the New York Stock Exchange). Her great-grandfather’s company in Rome was also involved in the production of iron works since 1910. Subsequently, after World War II the Italian company,led by her grandfather Sergio, began the construction of large industrial mechanical plants, such as Synchrotron in Frascati, Alfa Romeo in Arese, the Steelworks in Terni and Taranto. In 1999 Veronica's father, Valter Mainetti, began a thorough restructuring of both businesses in Italy and in the US under the brand Sorgente Group, focusing on real estate finance and the acquisition of iconic buildings, accordingly launching the first real estate fund, named "Michelangelo", intended for institutional investors, with portfolio investments in iconic real estate(4).
Sorgente Group now operates with three holding: Sorgente Group of America Corp. (USA), Sorgente Group Spa (Italy), Sorgente Group International Holding Ltd (UK).
As of 31 December 2014, at the Group level, the total real estate assets owned by the funds and the underlying companies, together with the managed assets amounts to over $6 billion.
Veronica Mainetti represents the fifth generation of entrepreneurial activity.
Career
Since 2003 she has worked on conservation and redevelopment projects of historic buildings in the United States. Her interest is focused on the restructuring of "iconic" real estate, historically linked to the context in which they find themselves. These operations are carried out through studies conducted by the company "Sorgente Group of America Development", dedicated to sustainable environmentally responsible development practices that preserve the future as they preserve the past.
During 2012 in New York she completed the redevelopment of two iconic buildings in Greene Street in Soho, two loft conversions carried out according to standards of superior quality and Italian style.
In 2016 "60 White" will be operational, a historical building complex in Tribeca , which has been turned into prestigious loft apartments according to the most innovative standards of eco-sustainability and in consonance with the more stringent energy efficiency parameters(5). Her projects are proof that restructuring and developing high-profile real estate can go hand in hand with aesthetics and eco-sustainability. In 2015 she produced a documentary called "Giglio on White" to be released in 2016, chronicling the restoration of 60 White. With this project, Veronica Mainetti wants to preserve history and the environment. She is setting an example of the power that people holds in deciding how to live.
She has participated to increasing the Group's assets under management with the acquisition of the Fine Arts Building in Los Angeles in 2012 and the Clock Tower Building in Santa Monica in 2013.
Her strategy for the future is the expansion of the Group’s assets under management through the acquisition of further iconic buildings in North America.
Other interests
She is a photography enthusiast.
She fuels her passion for conservation and sustainability by documenting travel from Greenland to Vermont to witness the changes in the environment and to respond to problems of global warming and energy efficiency standards, then carrying out projects that are truly sustainable.
Sources
1Sorgente Group of America Corporation. (n.d.). Retrieved December 15, 2014, from http://www.sorgentegroup-usa.com
2http://nypost.com/2015/06/23/the-20-biggest-power-players-in-new-york-city-real-estate/
3Marino, Vivian. "A Conversation with Veronica Mainetti of Sorgente Group of America." The New York Times. N.p., 31 Mar. 2015. Retrieved 20 May 2015, from http://www.nytimes.com/2015/04/01/realestate/commercial/a-conversation-with-veronica-mainetti-of-the-sorgente-group-of-america.html?_r=0
4 Athavaley, A., & Weiss, J. (2013, June 13). Mainettis family building blocks in Manhattan. Retrieved from http://www.wsj.com/articles/SB10001424127887323949904578535621435119046