Brickbro raises the stakes: Offices and logistics to launch proptech platform

November 2, 2019
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This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The propetch plans to allocate the assets it has in its portfolio to one sector or another depending on the specific needs of each neighborhood

Brickbro launches for the logistics and office market. The propech specialized in the rehabilitation of empty commercial premises finalizes its leap to these two segments of the real estate market, according to its CEO, Guillermo Preckler. The company looks to continue to allocate part of the assets it has in its portfolio to lofts and residential studios.

One of the niches that the company is studying with more interest is that of coworkings, a booming market that has absorbed more than 60,000 square meters in Barcelona and more than 56,000 square meters in Madrid until September, according to a report published by the consultancy Cushman & Wakefield.

The manager explains that the company "knows the needs of each neighborhood" and, therefore, will reform its portfolio assets to allocate them to one segment or another depending on the demands of each market. In this sense, Preckler says that "there is no need to make any changes in legal use, just recondition the space."

The head of the company maintains that they want to “be leaders in the logistics and office segment”, two markets in which “only 16% of proptech operate” despite the fact that “they offer higher returns and move more money than the residential”.

On the other hand, Brickbro has created several companies to start operations with own funds with the aim of "diversifying and reducing the risk to the company". In this regard, Preckler has assured that it plans to close the first operation of this type in the near future.

In addition, the company plans to invest between 200,000 and 250,000 euros in improving its technology. In this regard, the executive says they will expand their staff of developers with up to five hires in the coming months. Currently, the company has ten professionals in Barcelona and two more in Madrid.

So far this year, Brickbro has closed around thirty individual operations and its portfolio accumulates a value of five million euros. In addition, it is analyzing lots of assets, so it expects to close the year with a portfolio of 7.5 million euros and a turnover of between 1.5 million and 1.7 million euros.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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November 2, 2019

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