Sponda Plc and JER Europe Fund II Holdings S.Á.R.L. have signed an agreement for the establishment of a real estate fund. The fund will invest principally in office and retail properties in Finland's mid-sized towns and cities.
Sponda holds a 20% stake in the fund, which has a target size of 150-400 million. Sponda will be responsible for providing management services both to the fund and the properties it acquires.