(Information sent by the signatory company)
Madrid, February 1, 2024.- HOMES by Gestilar, a company founded in mid-2022 as a result of the participation of Gestilar and Latitud 40 Management, ended 2023 with a major purchase operation, acquiring a set of 66 homes in the neighborhood from Salamanca in Madrid; an operation that consolidates it as one of the most active agents in the House flipping sector, with a privileged positioning obtained in a very short space of time.
A unique operation in the Salamanca neighborhood
The block purchase operation of these 66 homes takes place in the heart of the Salamanca neighborhood, the prime area of Madrid par excellence and constitutes, due to volume and quality of the units acquired, the most unique operation of the year 2023 in the market of the house flipping in Spain and consolidates Homes by Gestilar as a protagonist in this segment of the real estate sector.
The investment volume of the operation exceeds 50 million euros and has been carried out with the company's own funds, although it will count throughout the process of transformation and sale of the assets with bank financing from BBVA, facilitating access to the financing to the end customer of the finished product. The transaction has also had the advice of JLL, a financial and professional services company specialized in the real estate sector.
The homes that Homes by Gestilar will market will be completely renovated and will have all the characteristics and product details in accordance with customer demand in this exclusive area of Madrid, as if it were a new construction. In this case, after the renovation of the homes, a product mix will be made available to the market that will cover a typology of homes with 2 to 5 bedrooms, with surfaces between 100 m2 and 280 m2, all of them with their own exclusivity. which grants the location in the Salamanca neighborhood and with prices starting at 550,000 euros.
Homes by Gestilar closes the year with this operation, consolidating the company in the house flipping market, having carried out more than 200 transactions during the year, with a total investment volume of more than 100 million euros. With this operation, Homes has demonstrated its ability to respond to large projects, without affecting the “floor-by-floor” purchasing activity, which makes it one of the most dynamic companies in the sector.
Likewise, its geographical expansion has been consolidated, opening new places throughout 2023, already having formalized transactions in Madrid, Barcelona, Palma, Seville, Bilbao, Vigo, Málaga, Córdoba or Pamplona, with Levante and Portugal.
In its operations, Homes by Gestilar maintains the objective parameters of its business model, with an asset rotation of 120 days and home renovations in 60. As of today, the proptech has an extensive pipeline of more than 500 possible operations, with assets under study spread throughout Spain and Lisbon.
Miguel Silmi, general manager of Homes by Gestilar
In the words of Miguel Silmi, General Director of Homes by Gestilar, “This is a truly important operation, firstly, due to its volume, both in units and investment, very unusual in the House flipping business, and secondly. , due to the location of the project, in the prime area par excellence of Madrid. Without a doubt, it is an excellent final touch to a year with more than 200 transactions and that consolidates our company as one of the leaders in the sector.”
“Homes is the best example of the adaptability of a proptech when it comes to responding to market demands and trends through technology, also contributing to the recovery and sustainability of city centers. We work both for the institutional client, an investor in search of assets with a high underlying value and attractive returns, and for the end user whose profile focuses on the purchase of assets in the heart of the main capitals in search of the best locations and short delivery times.”
Technology at the service of Real Estate
The proptech business Homes by Gestilar is based on what is known as House flipping, a real estate transaction formula that consists of the purchase, renovation and sale of already built homes in a very short period of time, with great technological support behind it. of the entire operation.
The Homes by Gestilar proposal is differential in the Spanish market, given that, having its origin in a developer, it has allowed it to integrate additional capabilities that represent great competitive advantages, being able to offer a completely renewed product that stands out for having all the qualities of the new work.
“The introduction of technology in real estate management, both for the control of the process and for the management of the purchase and sale of homes, makes us differentiate ourselves from the traditional home sales market. The success of closing this operation is due, in large part, to the agility and reliability provided by the technology we apply in proptech.” Miguel Silmi states that a good part of the company's success is due to the use of the most cutting-edge big data technology in acquiring real estate, through an algorithm, designed specifically for proptech, that tracks all sources of real estate information available through 90 different fields and analyzing multiple variables. This tool performs a daily analysis and has the ability to launch offers automatically. Thus, Homes by Gestilar can detect properties that are great opportunities before anyone else.
On the other hand, the important IT infrastructure on which Homes by Gestilar is based is prepared for the real-time management of a large number of assets and, therefore, a high and rapid production of units, helped by a Business platform. Own intelligence for decision making. All this enables enormous efficiency in the processes, shortening the acquisition, renovation and sale periods.
Issuer: Homes by Gestilar
COMMERCIAL CONTACT
info@homesbygestilar.com
Press Contact:
Stylized
Virginia Chicharro Martinez
Marketing Manager
Email: vcm@gestilar.com
About Men by Gestilar
Homes by Gestilar is the proptech division of the Gestilar Group, dedicated to the purchase, renovation and sale of homes in a short period of time. Created in 2022, it is the first house flipping company with origin and support in a developer and, therefore, has the enormous experience of the group, present in the real estate sector since 2009 and with more than 6,000 homes planned. and delivered in Spain and Portugal. Homes by Gestilar operates in all major Spanish cities and Lisbon. www.homesbygestilar.com
