- KKR firm to internalize part of real estate sales teams
- It has a portfolio for sale of 1.8 billion in residential and 800 million in tertiary product.
22/06/2023 – 6:00
Domus, the real estate marketer owned by KKR, will increase its size with an injection of 1 billion euros in assets before the end of the year. This was explained by Jorge Pérez-Curto, CEO of Domus in an interview with elEconomista.es, in which he pointed out that the company is currently in negotiations with two large developers in this country to internalize part of its marketing team.
“The talks are very advanced and we expect to reach agreements even in the next quarter,” explains Pérez- Curto, who details that the company currently manages a portfolio worth 1.8 billion euros in new residential construction product. In addition, in the tertiary sector, it has assets under management of around 800 million.
The manager points out that these two operations will involve the incorporation of a team of some 30 people to Domus, which currently has its own staff of more than 85 employees.
“We have already closed a team internalization transaction with one of the large listed developers and in fact this is the trend that is going to be seen in the next few months in the sector, as we In this way, companies can lighten their workforce and at the same time be more demanding when dealing with a supplier,” the manager points out, noting that in all cases, the incorporation of is made by specific geographic areas.
These agreements include projects in the start-up, construction and delivery phases. “By incorporating promotions at different stages of life we have secured product for many years to come,” stresses Domus’ CEO.
The company works in the marketing of assets of the main developers in this country, such as Aedas Homes, Metrovacesa, Habitat, Kronos, Vía Célere and Aelca, among others. These large firms account for 75%-80% of the current portfolio managed by Domus, while the rest comes from servicers such as Hipoges, Anticipa or Altamira, among others.
“In addition to residential developments , we also manage the sale of non-demolished REO and NPL with real estate collateral, so we handle land, hotels, commercial premises, warehouses or medium-sized parks,” Pérez-Curto points out.
In the residential part of new construction,“right now we have around 100 developments spread throughout the country. We only lack presence in Extremadura and Aragón, but with the two agreements we are negotiating, we will surely enter these markets as well”, says the executive.
Regarding the current situation of the residential market, Pérez-Curto highlights the “solidity and solvency of the new housing market”.
“With the current housing production, which does not reach 100,000 homes, and a sustained demand of 150,000, we believe that the market will weather the temporary potential in a positive way,” explains the manager, who stresses that the rise in interest rates is affecting the market and that it will continue to grow. potential buyersespecially for the most economical tickets. “Now we have fewer visits, it takes longer to make decisions, but the client who comes is more solvent and qualified, he comes with his homework done,” concludes Pérez-Curto.
