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10/12/18
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Biproxi, an online platform for middle-market commercial real estate sales and leasing, was just launched by industry veterans Gordon Smith, Yan Khamish, Carrington Guy and Thatcher Milholland. The site, which has secured seed funding from prominent real estate professionals and private equity investors, caters to the largest and most underserved segment of commercial real estate – the middle market. Defined by Biproxi, the middle market represents sales transactions under $25 mil and leases under 50k sf, which accounts for roughly 70% of annual U.S. CRE transaction volume.
“While a lot of attention is paid to the top brokerage firms and trophy properties in gateway cities, the reality is that the majority of CRE professionals are focused on the middle market,” said Gordon Smith, Biproxi’s CEO. “Middle-market deals are generally conducted offline, and the prospective buyer pool is large and diverse, which makes it difficult to identify all qualified buyers through traditional marketing and networking methods alone. Biproxi’s platform ensures deals are exposed to the widest possible buyer audience.”
Biproxi’s key differentiators are:
● A listing and discovery process that is free, with superior analytics and no subscription fees;
● A marketing services platform with fees that are 75% lower than the nearest competitor;
● Primary focus on the market with highest need – the middle-market CRE broker;
● Proprietary technology to verify listings, buyers, sellers and tenants
Industry organizations already partnering with Biproxi include AREAA, CCIM, NAIOP, NAR, and SIOR. The company’s national brokerage partners — those that are placing all their listings on Biproxi — include Capital Pacific, Coldwell Banker Commercial, CORFAC International, The Kase Group, Lee & Associates, Paramount Lodging Advisors, RE/MAX Commercial, Sperry Commercial, SVN Commercial Real Estate Advisors and TCN Worldwide as well as mid-size and smaller firms throughout the U.S. Carrington Title Services will be Biproxi’s title partner.
Biproxi also has a Broker Council comprised of leading individual investment sales and leasing professionals, who are also seed investors in Biproxi. Brokers on the council hail from Biproxi’s aforementioned national brokerage partners as well as international real estate brokerages Newmark Knight Frank, Marcus and Millichap, Colliers and Avison Young.
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