Sareb’s Sale of Témpore Enters Final Phase with TPG as the Favourite
28 March 2019 – Cinco Días
Sareb’s sale of its rental home Socimi Témpore Properties is entering the home stretch. The bad bank has selected three candidates to pass through to the final round, all of which are US funds, namely, TPG (Texas Pacific Group), Ares and Round Hill, with the former currently the favourite.
Témpore, which is listed on the MAB, has a market capitalisation of €305 million and, according to the most recent assessment performed by Savills Aguirre Newman, an asset portfolio worth €338 million.
In just over a month, Sareb will announce the name of the winning investor, which will take ownership of the Socimi and its 2,249 residential properties.
Original story: Cinco Días (by A. Simón & P.M. Simón)
Translation/Summary: Carmel Drake