Sareb’s Socimi Témpore Changes its Manager after Suffering Larger Losses than Expected

27 January 2020 – Voz Pópuli

Témpore, the Socimi created by Sareb for its rental homes, in which TPG acquired a majority stake in 2019, has changed its manager after suffering losses of €1.2 million during H1 2019, compared with forecast losses for the whole of 2019 of €936,000.

As of December, Azora is no longer responsible for the property or asset management of Témpore’s 1,500 homes. Instead, Basico, a company founded by Rafael Valderrabano in 2009, which advised TPG on its investment in Témpore last year, has taken over the property management activity, whilst TPG is performing the asset management tasks in-house.

Original Story: Voz Pópuli

Translation/Summary: Carmel Drake