MCore, Experts in the active management of distressed real estate assets.
MCo is a highly specialized Investment & Management Company focused on the acquisition and management of companies and real estate assets in highly complex situations. MCo stands out for its ability to maximize the value of real estate portfolios under financial distress, operating primarily in secondary markets across Central and Northern Italy.
MCore, Partners
MCore, Partners
Our expertise lies in transforming illiquid assets into market ready solutions, creating value even in scenarios where others perceive only obstacles.
Mission
Active Management of distressed real estate portfolios, guided by strategic vision, analytical precision, technical rigor, and creativity. Our goal is to provide clear direction in unstable contexts, turning perceived failure into tangible value. Where others hesitate, MCo steps in with method, intuition, and resilience.
Vision
To become the leading reference in Italy for enhancing complex real estate portfolios in secondary markets. We aim to promote the strategic recovery of distressed assets, generating sustainable value and contributing to the revitalization of the urban and economic context of the areas in which we operate.
Team
MANAGING PARTNER E FOUNDER
Juan Pablo Mariňo
He brings over 20 years of international experience in real estate investments across Europe, North, Central, and South America. He has held senior management roles at Sansedoni (Monte dei Paschi Group) and Coima Survey, leading transactions in Europe exceeding €10 billion. A specialist in the investment and management of distressed assets, he played a key role in the creation of one of Italy’s leading platforms dedicated to distressed real estate portfolios. An architect with an MBA, he is fluent in Italian, English, and Spanish.
PARTNER & SALES MANAGER
Andrea Ricci
An expert in commercial strategy and real estate value creation, with a career that began in the construction sector and evolved through roles as Technical Director and later as Commercial Manager at leading companies in the construction industry, including Bertozzini SpA. He currently leads the group’s marketing and sales operations, overseeing the agency network and managing the commercialization of both owned and third-party portfolios.
TECHNICAL MANAGER
Ioan Claudiu Baias
Technical specialist in the distressed asset sector, he has extensive experience in technical and legal due diligence for large-scale NPL acquisitions. He plays a key role as Head of Technical Coordination for the group, acting as the essential link between the various managers operating across the entire area. He is a registered surveyor and speaks fluent Italian, English, Romanian, and Ukrainian.
Rely on expert partners to manage distressed real estate portfolios or projects.
Our growth strategy focuses on investing in complementary companies to enable fast and efficient asset sale through vertically integrated services.
Investments
Activities
Real Estate
Services
Real Estate
Vehicle
Agency
Services
Optimizing and Unlocking Value in Real Estate Porfolios
Investment
Acquisition of distressed real estate companies and assets with strong potential for transformation and value enhancement, focused on high-opportunity secondary markets.
Asset Management
Management of complex real estate portfolios—both proprietary and third-party—leveraging strategic, technical, and legal expertise. Our multidisciplinary team excels in unlocking value from high-complexity assets through a fully integrated management approach.
Active Management of Distressed Assets
We design customized management strategies for real estate portfolios in crisis. Our approach targets financially and commercially distressed situations, enhancing asset performance and driving transformation and urban regeneration.
Sales Management
We design and implement tailor-made sales strategies for each portfolio and property, structuring effective distribution channels through MCo Agency and its selected network of local agencies and partners.
Representative Transactions
Investment
- Costruzioni Edili Srl (ex Bertozzini SpA)
Acquisition of 100% of the shares of a company in financial distress. Strategic activity focused on debt restructuring and negotiation of agreements with creditors. Crisis management carried out through the transformation and sales of a real estate portfolio located in Central and Northern Italy. Asset Under Management (AUM): circa €20 million.
- Value Creation Operations in Complex Contexts
Targeted acquisition of selected opportunities sourced from distressed funds managed by SGRs and other asset managers, as well as from the open market. These initiatives are transformed into highly liquid assets, followed by strategic disposal. Asset Under Management (AUM): circa €5 millions.
Asset Management
- Port Authority of New York and New Jersey (PANYNJ) – Promontory SpA
Strategic advisory in the portfolio rationalization process of the Port Authority of New York and New Jersey (PANYNJ). Management and development assessment of high-profile assets, including the World Trade Center, New York and New Jersey airports, the Port Authority Bus Terminal, and the Times Square area. Asset Under Management (AUM): n.a.
- Stato Vaticano – Amministrazione Patrimonio Sede Apostolica
Asset and strategic valuation. Definition of a new investment and real estate portfolio management plan. The activities contributed to the reorganization of the economic and administrative structure of the Holy See, with a focus on operational efficiency and asset value enhancement. Asset Under Management (AUM): n.a.
Active Management of Distressed Immobiliare
- Blue Sgr – Alba Funds
Management of four funds composed of distressed assets originated from bank loans. Activities include post-closing due diligence, market appraisals, asset transformation into saleable properties, and sales coordination. Asset Under Management (AUM): approximately €60 million, primarily distributed across Lombardy, Piedmont, Tuscany, Marche, Umbria, and Sardinia.
- York Capital Management - Faenza Shopping Park
Comprehensive management of the turnaround operation of an outlet center acquired from a distressed banking situation. Activities included corporate restructuring, business plan development, creation of a new commercial concept, project management, and coordination of leasing activities. The activity also involved securing new financing.
Region: Emilia-Romagna. Asset Under Management (AUM): approximately €20 million.
Sales Management
- Alba Funds
Sales management of a portfolio of assets originated from NPLs, through strategic value enhancement and active management. The assets, primarily located in Abruzzo, Liguria, and Marche, were subject to a specific value creation and commercialization plan, including market analysis, pricing strategy, activation of dedicated sales channels, and direct negotiation management. Asset Under Management (AUM): approximately €20 million.
- Solution Bank - UTP Positions – Rebumping Activities
Monitoring of rebumping operations on UTP portfolios, where the bank approved the injection of new financing aimed to asset liquidation. Performed duties as Chief Restructuring Officer (CRO) and watchdog, with responsibility for coordinating the sales of real estate units and the divestment of various portfolios.
