Sareb launches a competitive process to sell its stake in Témpore Properties

11/30/2018

Sareb launches a competitive process to sell its stake in Témpore Properties

Sareb launches a competitive process to sell its stake in Témpore Properties

Sareb has launched a competitive process to sell its stake in the REIT Témpore Properties, which currently equates to 98.38% of the company’s share capital.

In December, the REIT will carry out a €150 million share capital increase to acquire a total of 1,769 properties from Sareb, including 850 rental properties.

The acquisition of these properties will increase the value of the REIT’s portfolio to €325 million and take the total number of units to 3,357  (2,268 of which are residential apartments).

The acquisition of this rental property portfolio – which forms part of a Right of First Offer (ROFO) agreement signed by Sareb and Témpore Properties when the REIT was first created – will allow the REIT to double in size.