Amongst the Azora’s representatives who left the REIT’s board are founding partners Concha Osácar and Fernando Gamuzio, financial director Mar González, CEO Aitor García Bilbao and operations manager Miguel Fernández, as revealed by the company in a document published on the Spanish Company Register (Registro Mercantil), to which Spanish daily newspaper Eje Prime had access.
This divorce occurs after almost two years working together. Azora took over the management of Témpore’s assets, at the time estimated at 175 million euro, in February 2018.
At the time the REIT was controlled by Sareb, which closed the sale of its 75% share of the company last Summer to fund TPG Real Estate Partners for 247 million euro, keeping only 24.1% of the company.
