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The Corcoran Group is making its first foray into Europe with the addition of a new affiliate coming soon in Lake Garda, Italy, the brokerage has exclusively informed Inman.
The firm, previously known as Immobiliare Magri, will officially launch as Corcoran Magri Properties sometime in the next several weeks led by majority owner Maddalena Magri.
“As we continue to grow our global footprint and network of exceptional affiliates, I’m thrilled to make our way into the European market, especially into Italy,” President and CEO Pamela Liebman said in a statement. “The Magri team has always prided themselves on turning every client’s dream of Lake Garda into a reality. Their dedication to client service is exactly what we look for when partnering with affiliates; it perfectly aligns with Corcoran’s established culture and core values.”
Immobiliare Magri was founded in 1987 by Luigi Magri as a family business. Since 1993, Luigi’s daughter Maddalena Magri has led the company’s operations, growth and presence in the local community. The brokerage opened its current office in 2000 in Lake Garda as a central location along the east coast of the lake, accessible to both agents and clients.
Maddalena Magri took majority control of the firm in 2013 and continues to co-own with Francesco Visentin, a long-time agent and owner of the firm.
Lake Garda is Italy’s largest lake, located in Northern Italy, roughly midway between Brescia and Verona. Milan is located a roughly two-hour drive west and Venice is about a two-and-a-half-hour drive east. The crystal-clear watered lake is a vacation destination for urbanites, expats and international vacationers because of its quaint towns, delectable cuisine and water activities.
“We are excited to introduce the Corcoran brand to our business, our clients and the entire Lake Garda real estate market,” Francesco Visentin, co-owner of Corcoran Magri Properties, said in a statement. “Through the elevated marketing, dedicated support, international network and educational opportunities provided by Corcoran, we are confident that this partnership will take our business to the next level.”
Corcoran Magri Properties is also active in the local community through volunteer work and donations to Mission Bambini, a foundation that provides health services, primary education and emergency support to underprivileged children across Italy and abroad.
Corcoran has recently expanded its affiliate network through a new location launched in Georgia, a substantial team addition to Corcoran Icon Properties in Northern California and the acquisition of Renwick Real Estate by Corcoran Legends Realty in Westchester County.