The pandemic arrived in early 2020 at a time of change for BR Properties (BRPR3). The rental income commercial property company had decided to radically change its portfolio to focus on A+ assets, the most valuable in the real estate market, offering services and public transport in the vicinity. This significant change stopped right at the end of 2019 with the sale of many smaller offices in decentralized category B regions. The move left the company prepared to face the test of the crisis that would come a few months later, caused by the pandemic. As a result, its corporate properties already recorded higher occupancy than at the start of the crisis, unlike assets in B regions, which continue to suffer from higher vacancy rates, BR Properties CEO Martin Jaco told EXAME Invest.
"We pay more for assets, but I serve my tenants, and I'm better positioned now. This niche market is more absorbable. Tenants realize they can't leave because the day they want to return, there may not be any buildings available.
"In light of the good results, the company is preparing to set foot once again in the logistics segment and strengthen the operation with the first real estate fund open to the market.