Berkshire Hathaway HomeServices Spain, the real estate company of the magnate Warren Buffett controlled in Spain by the Rabassa family, has integrated the company GTS Barcelona Real Estate, founded by Pere Barcons and Débora Escoda.
Luis Rabassa, CEO of the Berkshire office in Barcelona, details that the integration has materialized through an agreement between the two companies that does not contemplate the outlay of capital. As of this August, GTS will be part of the Berkshire operating network, its brand will disappear, but the management and ownership of the business will remain in the hands of Pere Barcons and Débora Escoda.
"We had collaborated before and now we are strengthening ties because our markets are very aligned," says Rabassa, who estimates that the Berkshire office in Barcelona will increase its real estate portfolio by 20% as a result of this operation.
Since its birth in 2011, GTS has been dedicated to luxury housing in Barcelona and the Costa Brava. According to the latest accounts available online in the Mercantile Registry, it had a turnover of 6.3 million euros in the 2019 financial year. With this operation, the company hopes to increase its growth because it will have access to the network and marketing tools of the American multinational .
On the part of Berkshire, the integration will allow it to strengthen its business in Catalonia, which to date was focused on luxury homes in Barcelona, valued from 800,000 euros, especially in the "upper Diagonal, Eixample Dret and Passeig de Gràcia" area. , according to the CEO.
The Rabassa family has a long history in the sector. He began in 1964 with the foundation of Petrus Grupo Inmobiliario and later, in 2012, he created the real estate consultancy firm Larvia. Through the latter company, it forged a strategic alliance with Berkshire Hathaway to boost business in Spain. It was 2019 and from then on, Rabassa expanded its presence in the country through delegations in Madrid and Marbella.
Rabassa comments that now the business is going from strength to strength. “In Barcelona, we are growing 70% and in Madrid, around 50%. We see that there is a lot of demand for luxury housing. We have launched a ten-year expansion plan to gain a presence in the Balearic Islands and the Canary Islands. We want to be leaders in luxury housing in the country”, points out the owner of the real estate company, who recently announced the sale of a development of 28 luxury homes in Sitges valued at 60 million euros.
