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Témpore increases its portfolio investing €41M
11 March 2020 | Vanessa Sousa

REIT Témpore Properties increased its portfolio for the first time this year with the purchase of several assets located in Spain, for a total investment of 40.8 million euro.

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One of the buildings is located at Calle Honori Gacía in Castellón. According to the release sent to the Mercado Alternativo Bursátil, this asset consists of 173 dwellings and 186 garages. The same document further mentions that this acquisition will occur in two different stages: the first stage occurred at the end of February and concerned the purchase of 153 dwellings and 165 garages and the second stage should be concluded by the end of March and will include the purchase of the remaining units in the portfolio.

Besides this operation, the REIT also acquired several buildings this Monday, which in total, represent 184 dwellings and 194 parking spots. These assets are spread across several Spanish municipalities such as Almazora, Villarreal, Madrid and Leganés.

The same document does not disclose any information concerning the sellers or the amounts of these transactions.

It is known that with these operations, Témpore’s portfolio will include more than 2.500 dwellings. It should be noted that the REIT’s intent «is mainly focused on buying and managing residential assets by renting them in areas under great demand and with the expectation of obtaining good returns for its shareholders».

These operations take place months after Sareb (Sociedad de Gestión de Activos procedentes de la Reestructuración Bancaria) closed the deal to sell 75% of its share in the REIT to fund TPG Real Estate for 247 million euro.