Sareb Negotiates the Sale of Part of its Stake in Témpore with TPG

30 April 2019 – La Vanguardia

Sareb is holding formal negotiations with the US fund TPG Real Estate Partners III regarding the sale of part of its stake in the rental home Socimi Témpore Properties, of which it controls 98.38%.

Témpore owns 2,268 rental homes, making it the third largest operator in the Spanish rental home market. It closed last year with a loss of €384,394, but is expected to generate profits from 2020.

Sareb opened a process on 7 March to receive binding offers for Témpore. At least four funds expressed their interest, but it is understood that TPG is the only candidate left in the running.

The operation is expected to close during the month of May.

Original story: La Vanguardia

Translation: Carmel Drake

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