Sareb sells its stake in Tempore TPG

Sareb sells its stake in Tempore TPG
Témpore building in Avda. Ensanche de Vallecas, Madrid

According to Cinco Días, the operation will be closed before the end of the year. Sareb's stake is worth 32.65 million euros.

The Tempore portfolio is made up of 3,000 homes, with a value of 377 million. The Socimi is one of the largest homeowners in Spain, along with Blackstone, CaixaBank, CBRE IM, Axa, and APG and Aware.

In the first semester of 2021, Témpore received 7.12 million from the operation of its houses, about 400,000 euros more than in the same period of 2020. Some operating expenses, the amortization of the properties and the debt catapulted the final result to losses of 1.26 million. The total debt amounts to 237.44 million, almost 7.5 million more than at the end of fiscal year of 2020.

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