CORE Immobilier, through local knowledge, cultural sensitivity and decades of high-profile deal experience, acquires and manages prime and value-add commercial assets in markets overlooked by large real estate funds and investors in key western Mediterranean markets of the Eurozone.  We provide our partners with cross-border expertise ensuring smooth and efficient asset and transaction management.

 

Core Immobilier

OBJECTIVE

CORE partners with opportunistic U.S. and European investors targeting niche office and industrial investments in important Mediterranean metropolitan areas with strong transportation and industry infrastructure - Marseille, Lyon, Nice, Barcelona, Madrid, Lisbon and Milan. Our principals guide our investors into institutional quality commercial real estate assets, producing higher yields in prime and value-add properties located in niche markets through expertise in acquisition, leasing, renovation, use conversion, property management and financing strategies.

MARKET

CORE is confident that the market is ripe to invest in commercial real estate in defensible niche European markets based on solid fundamentals. Investors looking for higher yields are starting to research smaller, economically important markets with established infrastructure since prominent markets have already been picked over as a result of strong investment activity by major international funds. Slow development over the last 5 years has resulted in low vacancy rates, putting upward pressure on lease rates.

YIELD

CORE’s research uncovers quality assets in key Mediterranean markets that yield strong returns with inherent safety of product and tenant credit. Cap rates on non-obsolete older warehouse and suburban office product with quality European tenants trade at 8%+. Yields in prime logistic markets range from 6% to 7% with rated credit and long term leases. Office product remains consistent from 6.5% to 7.5% in submarkets, with Central Business District and prime high-profile properties yielding as low as 5%.

EXPERIENCE

CORE is led by seasoned American professionals with extensive experience in local as well as high-profile international projects. From conception and strategy through implementation, CORE principals employ a nimble, “hands-on” entrepreneurial perspective in seeking opportunities, executing deals and managing assets. CORE principals have created businesses, structured financings, managed public regulatory procedures, relying on a vast local and international network of brokers, real estate professionals as well as financial and legal advisors.
CORE’s local office is situated near Marseille, France’s largest port, in addition to one of the European continent’s important transportation centers. With the Marseille-Provence Airport and the TGV (fast train), CORE’s team is within 2 hours of our real estate investments.

RICK HARRISON  MANAGING PARTNER

Rick has 30+ years of commercial real estate experience, including portfolio accountability totaling over €1 billion across multiple real estate sectors in over 40 cities worldwide. During his career with The Walt Disney Company, Trammell Crow Company and Lincoln Property Company, Rick initiated and executed high-profile projects in Europe, U.S. and Asia.

A 15 year resident of France and a native of Los Angeles, Rick is fluent in English and French.

Rick graduated with a Master of Business Administration from the Kellogg School of Management, Northwestern University.

ANNE LEDERER PARTNER

Anne has 20+ years experience in finance, M&A and private equity worldwide. Anne has advised, structured and negotiated on large-scale cross-border transactions ($1+ billion) for the law firm of White & Case, Nomura International’s Principal Finance Group, Cargill’s Financial Investments team and Credit Suisse’s structured product’s subsidiary.

Anne is a 15 year resident of France, fluent in English and French, and has worked in Los Angeles, New York, London, Stockholm and Istanbul.

Anne graduated with a Juris Doctorate from the UCLA School of Law.

SCOTT MESECK   MANAGING MEMBER - USA

Scott has 25+ years experience providing institutional finance and capital structuring expertise for all income producing property classes in North American and in Europe. Scott has originated more than $3 billion in debt and equity financings representing both institutional and individual investors during his real estate banking career with Walker & Dunlop, Johnson Capital, HFF and CBRE. Scott works from our Southern California office, and has considerable project experience in Europe. Scott graduated with a Master of Arts degree from UCLA and a Juris Doctorate from Southwestern University School of Law.

ALAN DIBARTOLOMEO   MANAGING MEMBER - USA

Alan has 30+ years of institutional grade acquisition, development and management expertise in assembling, entitling and building dense, urban multifamily properties, producing livable communities with high per square foot revenues with some of the most highly regarded U.S. developers including Legacy Partners, Trammell Crow Company and Spieker Properties. Working from our Southern California office, Alan has been a guest lecturer at the USC Master of Real Estate Development program and the Urban Land Institute. Alan graduated with a Master of Business Administration from Harvard University.