9/28/2018

Témpore meets forecasts for revenue and financial results in H1 2018

Madrid, 28th September 2018. Témpore Properties, the REIT (Real Estate
Investment Trust) created by the Management Company for Assets Arising from the
Banking Sector Reorganisation (Sareb) closed H1 2018 with €3.3 million of
revenues and losses of €201,000. These results are in line with the company’s
strategic plan and with the forecasts set out in the Information Document for
Listings on the MAB (Documento Informativo de Incorporación al Mercado - DIIM),
despite the fact that some properties started to produce income later than initially
expected.
 
During the first half of the year, Témpore signed 154 new leases and renewed a
further 39, allowing it to raise its occupancy levels by 5%. Portfolio management
improvements were also seen in the rental portfolio debt ratio, which dropped half
a percentage point, down from 5.5% when the company was created to the current
5%.

After listing in April, the REIT’s share price on the MAB (Mercado Alternativo
Bursátil) has remained stable at around €10.40 per share. 

Témpore Properties’ portfolio features 1,383 homes, primarily located in Madrid
(59%) and Barcelona (24%), with the remainder located across Zaragoza, Valencia,
Almería, Malaga, Seville, Toledo and Guadalajara. 

The Socimi benefits from a three-year framework agreement that gives it a first right
of offer to buy assets owned by Sareb. This agreement is one of Témpore Properties’
main growth drivers, with the company aiming to increase its asset portfolio to
€500 million between 2018 and 2020. The Socimi is currently finalising the terms
for the purchase of Sareb assets valued at close to the amount detailed in the DIMM,
and which it plans to purchase via a share capital increase and before the end of the
year. 

The company also plans to continue increasing its occupancy rates of the current
portfolio and expects the new acquisition to help diversify its property portfolio,
entering new markets with strong rental demand.  
 
 
 

About Témpore Properties

Témpore Properties is a REIT (Real Estate Investment Trust) specialising in residential renting.
Formed by the Management Company for Assets Arising from the Banking Sector Reorganisation
(Sareb), the company’s initial portfolio comprises 1,554 properties, valued at €175 million. Eighty per
cent of the properties are located in metropolitan areas of major cities, whilst the remaining 20% are
located in areas that benefit from strong rental demand.
 
For further information, please contact Témpore’s Communications Department:
comunicacion@sareb.es; +34 91 276 36 55