Sponda Plc Stock Exchange Release 31 July 2012, 2:00 p.m.
Sponda’s logistics properties transaction finalised
On 10 July 2012, real estate investment company Sponda Plc announced the signing of an agreement to sell logistics properties for altogether EUR 32.5 million to the Sponda Real Estate Fund III. Closing of the transaction took place today.
Property sales will reduce the share of logistics properties in the company’s property portfolio in accordance with Sponda’s strategy. The transaction will also serve to finance the investments of the company.
Sponda Fund III invests primarily in logistics and industrial properties in Finland’s growth centres. The new fund is aimed at domestic institutional investors. Sponda is responsible for the management of the fund as well as the properties it owns. Sponda’s holding in the fund is approximately 38%.
Sponda Plc
Further information: Kari Inkinen, President and CEO, tel. +358 400-402 653
Sponda Plc is a property investment company specializing in commercial properties in the largest cities in Finland and Russia. Sponda's business concept is to own, lease and develop office, retail and logistics properties into environments that promote the business success of its clients. The fair value of Sponda's investment properties is approximately EUR 3.2 billion and the leasable area is around 1.5 million m².