Spanish REIT buys two high-quality residential portfolios
Témpore Properties, a Spanish REIT, has acquired, through separate transactions, two high-quality residential portfolios.
The combined purchase price of the two acquisitions is approximately €40.8 million ($46.3 million). Additional terms of the transactions were not disclosed.
Témpore has signed a definitive agreement to acquire a residential property in Castellón, located in the Valencia area, from entities controlled by Cerberus Capital Management and Banco Santander.
The property comprises 173 residential dwellings and associated parking and storage units. The transaction is occurring in two stages, the first of which is already completed, and is expected to close in full at the end of March.
In addition, Témpore has acquired a portfolio of 184 residential dwellings and associated parking and storage units from Sareb, pursuant to the terms of the Right of First Offer (ROFO) agreement in place between the Spanish REIT and Sareb. The assets are p