Sponda party to logistics property fund (FI)

Sponda Plc and seven institutional investors have signed an agreement to establish a logistics property fund, Sponda Real Estate Fund I Ky. The target size of the fund's real estate investments is in the region of €200 million. Under the terms of agreement, the fund is to purchase logistics properties valued at approximately €80 million from Sponda and the institutional investors involved.

The institutional investors involved in establishing the fund are Mutual Insurance Company Pension Fennia, Fennia Mutual Insurance Company, Fennia Life Insurance Company Ltd, Veritas Pension Insurance Company Ltd, Veritas Life Insurance Company Ltd, Assai Oy and Etera Mutual Pension Insurance Company. Sponda's contribution to the fund at the time of setting it up comes to 47%. Sponda will be responsible for providing management services both to the fund and the properties. ICECAPITAL Securities Ltd is acting as the financial advisor in setting up the fund and arranging financing.
The fund's properties are located in different parts of Finland, such as in Vantaa, Turku, Tampere and Nastola, and its objective is to invest in logistics properties throughout the country.

Source: Sponda

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