Témpore Properties is launched with a portfolio of 1,383 homes

Témpore Properties, the Socimi created by the Management Company for Assets Arising from the Banking Sector Reorganisation (Sareb), has been launched with a portfolio of 1,554 properties; 1,383 corresponding to homes and the rest to storage units and garages. The total value of the transferred assets amounts to EUR175 million.

80% of the property portfolio transferred by Sareb is located in metropolitan areas of major cities, whilst the remaining 20% is located in areas that benefit from high rental demand, such as the provinces of Valencia, Seville, Zaragoza, Malaga and Almeria. The homes have an average size of 93 sqm and are two or three-bed properties.

Azora has been assigned the management contract for this portfolio and will be directly responsible for all the administrative duties and sales marketing relating to the properties. Sareb also continues to work with its advisors Renta 4 and Clifford Chance on the stock market listing of Témpore on the Alternative Stock Exchange (MAB), due to take place in the coming weeks once all the necessary procedures have been completed.

Diaz Saldaña named Head of the Socimi

The completion of the asset transfer also coincides with the naming of Tempore Properties’ management team, which will be headed up by Sareb’s Director of Leasing, Nicolás Díaz Saldaña.

Diaz Saldaña boasts extensive experience, having occupied several senior management positions in the real estate and finance sectors, with a particular focus on the international market. Between 1991 and 1997, he was an analyst at the IEE (Institute of Economic Research). Saldaña then went on to hold various positions at BBVA between 1997 and 2008, including Director of the Benelux and German subsidiaries. Before joining Sareb, Saldaña was Head of the International Area at Metrovacesa, steering it through the toughest years of the real estate crisis.