Latin Counsel | TPG Real Estate Partners to Acquire 75% of Tempore Properties from Sareb

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Spain

TPG Real Estate Partners to Acquire 75% of Tempore Properties from Sareb

July 18, 2019

Sareb and TPG Real Estate Partners, the real estate equity investment platform of alternative asset firm TPG, announced today that they have reached an agreement for TREP to acquire 75% of Témpore Properties ("Témpore"), a Spanish Real Estate Investment Trust ("Socimi") listed on Madrid’s Alternative Stock Exchange (MAB).

Under the terms of the agreement, TREP will pay an indicative price of 12.17 euros per share of the Socimi.

Témpore manages a portfolio of more than 2,200 residential rental units located in major cities across Spain. Sareb will retain a 24.12% stake in the Socimi.

Uría Menéndez advised TPG Real Estate Partners through partners Diego Armero, Javier Ruiz-Cámara, Victor Viana and Blanca Arlaban.

www.uria.com

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