Témpore Properties: Sareb’s new socimi

The socimi (Sociedad Cotizada Anónima de Inversión en el Mercado Inmobiliario – listed real estate investment company) created by Sareb in order to put some of its rental housing portfolio on the market will be called Témpore Properties.

The socimi is due to be listed before the end of the year, once it has completed the formal procedures set out by the MAB (Alternative Stock Exchange).

Sareb has already made some headway into creating the new company and has hired the consultants that will advise them throughout the entire process; appointing Renta 4 as its corporate financial advisor for the process and Clifford Chance as its legal and fiscal advisor.

The real estate consultant CBRE has also recently joined the consultancy team, and is working on valuing the properties that will be associated with this new divestment vehicle and that form part of Sareb’s rental portfolio in regions such as Madrid, Catalonia, Andalusia and the Region of Valencia. The valuation of each asset will be carried out in accordance with RICS (Royal Institution of Chartered Surveyors) standards, in line with institutional investor requirements.